Snowflake Extends Relationship with AWS to Improve Demand Forecasting and Delivery for the Consumer Packaged Goods Industry

Rhea-AI Summary

Snowflake (NYSE: SNOW) has extended its partnership with Amazon Web Services (AWS) to enhance demand forecasting for retail and consumer packaged goods (CPG) sectors. This collaboration allows customers to import Amazon purchase order data and utilize Amazon Forecast for improved time-series forecasting. Key benefits include seamless data integration, enhanced forecast accuracy, and reduced penalties related to on-time delivery metrics. This initiative aims to facilitate better inventory management and operational efficiency for businesses selling on Amazon.

Positive

• Extended partnership with AWS for enhanced demand forecasting.
• Ability to import Amazon purchase order data directly into Snowflake.
• Improved forecast accuracy using Amazon Forecast's machine learning models.
• Streamlined data collaboration leading to enhanced inventory management.

Negative

• None.

New offering delivers Amazon purchase order data directly within the Snowflake Data Cloud for seamless inventory management

No-Headquarters/BOZEMAN, Mont.--(BUSINESS WIRE)-- Snowflake (NYSE: SNOW), the Data Cloud company, today announced an extension of its relationship with Amazon Web Services (AWS), to improve demand forecasting and delivery for the retail and consumer packaged goods (CPG) industries. This latest development will offer customers the ability to receive Amazon purchase order (PO) data and leverage product demand forecast data generated by Amazon Forecast within Snowflake’s Retail Data Cloud.

Snowflake Extends Relationship with AWS to Improve Demand Forecasting and Delivery for the Consumer Packaged Goods Industry (Graphic: Business Wire)

Retail and CPG businesses that sell on Amazon.com need to accurately forecast and anticipate variances of demand for their products, while also planning for manufacturing and delivery lead times to Amazon fulfillment centers.

Snowflake’s Retail Data Cloud, which unites Snowflake’s data platform, Snowflake- and partner-delivered solutions, and industry-specific datasets, breaks down data silos across the retail industry. With this announcement, retail brands and CPGs that sell on Amazon will now be able to receive their Amazon PO data natively in Snowflake, leverage brand-level and fulfillment center-level forecasts, and access new data from third-party data providers within the Retail Data Cloud, all on Snowflake’s single, integrated platform. The AWS and Snowflake relationship will empower retail businesses to process, analyze, act on, and syndicate data from a multitude of sources without the delays of traditional methods which require copying and moving data.

The Snowflake and AWS offering will enable retail and CPG customers to:

• Import Amazon purchase order data: More easily import Amazon PO data into Snowflake to better access, govern, and share data seamlessly across the organization.
• Increase forecast accuracy: Improve forecast accuracy using machine learning models from Amazon Forecast to create accurate time-series forecasts to predict demand for variable vendor purchase orders weeks ahead of time.
• Track product change impacts: Track product weight or dimension changes to ensure they adhere to manufacturer standards.
• Reduce OTIF penalties: Improve on-time in-full (OTIF) metrics to enhance organic ranking on Amazon.com, reduce chargeback expenses, and help ensure products are in-stock for consumers to buy.
• Ensure high velocity SKUs in stock: Match correct probabilistic forecasts with SKU sales velocity to help ensure key products will stay in stock and improve revenue.

“Today’s retail and CPG businesses are looking for accurate, efficient, and timely technology solutions to help deliver on their promises to consumers and positively impact their bottom lines,” said Rosemary Hua, Global Head of Retail & CPG at Snowflake. “Amazon.com has revolutionized how retail and CPG businesses sell and deliver to consumers and, similarly, Snowflake has had a profound impact on empowering businesses to optimize their operations and seamlessly collaborate on data. Together, Snowflake and AWS can streamline data-driven inventory management for items sold on Amazon.”

Learn More:

• See the latest Snowflake Retail Data Cloud announcement.
• Learn more about Snowflake for Retail and CPG businesses.
• Read more about the benefits of Snowflake and AWS.
• Stay on top of the latest news and announcements from Snowflake on LinkedIn and Twitter.

About Snowflake

Snowflake enables every organization to mobilize their data with Snowflake’s Data Cloud. Customers use the Data Cloud to unite siloed data, discover and securely share data, and execute diverse analytic workloads. Wherever data or users live, Snowflake delivers a single data experience that spans multiple clouds and geographies. Thousands of customers across many industries, including 241 of the 2021 Fortune 500 and 488 of the 2021 Forbes Global 2000 (G2K) as of January 31, 2022, use Snowflake Data Cloud to power their businesses. Learn more at snowflake.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220329005420/en/

Danica Stanczak

Sr. PR Manager, Snowflake

press@snowflake.com

Source: Snowflake Inc.

FAQ

What is the latest announcement from Snowflake regarding AWS?

Snowflake has announced an extension of its relationship with AWS to improve demand forecasting and delivery for retail and CPG industries.

How will Snowflake's new offering benefit retail businesses?

The new offering allows retail businesses to import Amazon purchase order data, enhancing data access and accuracy in forecasting.

What improvements does the Snowflake and AWS offering bring for inventory management?

It streamlines data integration, improves forecast accuracy, and helps businesses manage inventory more effectively.

When was the Snowflake announcement made?

The announcement was made on March 29, 2022.

What stock symbol is associated with Snowflake?

The stock symbol for Snowflake is SNOW.