WITSIDE has won the Gold award at the DEI BITE Awards 2023 in the category of "Digital Transformation of Business Operations" for its project on Demand Forecasting for Hellenic Dairies S.A. 

The goal of the project was to improve customer service with the minimum product inventory. To achieve this, a solution was developed that provides more accurate demand forecasts for each product, reducing both cost and forecasting time. 

Special algorithms were utilized for the implementation of the solution, processing a wealth of data from the company's internal and external environment (sales, weather, etc.) and continually improving predictive capabilities. 

The project achieved the following: 

• A 35%+ improvement in the average prediction accuracy for the Greek market.
• The ability to simulate scenarios with what-if scenarios. 
• More efficient management and control of product demand. 
• Real-time prediction capabilities. 

Mr. Andreas Maninakis, Demand Planning Manager at Greek Dairies, stated, "Through the digital transformation we undertook with WITSIDE, we harnessed the benefits of advanced demand forecasting technologies. The integration of digital solutions reduced inventory and storage costs, improved flexibility in production and material supply, and gave us a competitive edge in the demanding and ever-changing dairy products market." 

Mr. Amin Rakhshani, Lead Data Scientist at WITSIDE, added, "This success is the result of exceptional collaboration between the two companies and demonstrates that when progressive organizations like Greek Dairies embrace cutting-edge technologies, their potential grows exponentially. Additionally, this recognition highlights the shared vision of the two companies for innovation and the significant impact it can have on the digital space, creating a more promising future in the food and beverage industry." 

The Greek Dairies S.A. group has been continuously active since 1985 in the production of dairy products, with a presence in both the Greek market and 47 foreign countries, expanding its activities into the soft drinks and ready-made beverage sector. The company's portfolio includes well-known brands such as Olympus, Rodopi, Tyra, Kliafa, Doumpia, and the recently acquired Cypriot company Kouroushis.