Effective inventory management and AI-powered forecasting based on advanced Machine Learning algorithms to provide better visibility, avoid costly disruptions, and drive better decision-making.
AI-powered inventory planning and forecasting to harmonize supply and demand
Challenge:
Demand forecast inaccuracy causing overstocking or stock-outs
The main challenge of traditional inventory planning is a significant dependency on historical data and past seasonal patterns instead of actual and potential demand status. Forecast inaccuracies based on the traditional model often put the inventory at the risk of obsolescence. They also increase inventory costs due to overstocking or lead to missed sales opportunities due to stock-outs. These gaps in planning prevent manufacturers from getting the maximum from their inventory and being responsive to all sales inquiries and service disruptions.
Solution:
AI-driven planning and forecasting platform (Forecast-as-a-Service)
Our advanced Forecasting Algorithms and Machine Learning Platform constantly monitors the requirements, and predicts the demand of products and spare parts more accurately, while reducing forecasting errors by 30-40% that results in inventory optimization by 20-30%.
PRODIGY platform continuously monitors operational and consumption data and gives an accurate prediction on the optimal stock levels while improving the performance of inventory investments. Manufacturers can exceed their sales and service goals while responding quickly to demand and supply uncertainties and providing reliable customer service with optimized inventory across the region.
ROI Calculator
Calculate your estimated ROI with our Forecast-as-a-Service Solution
Business Data
Inventory value (Yearly) Select your yearly inventory value
100000
$50,000
$2,000,000
Inventory write-off (Yearly) Select your current yearly inventory write-off
10%
0%
100%
Sales loss due to stockouts Select your sales loss value due to inventory shortage
30%
0%
100%
Savings Metrics
Inventory reductions Average optimization metrics based on our experience with existing clients
30%
0%
100%
Inventory holding savings Average optimization metrics based on our experience with existing clients
18%
0%
100%
Inventory write-off savings Average optimization metrics based on our experience with existing clients
70%
0%
100%
Results
Reduction in local inventory holding due to accurate inventory forecasts
Reduction in working capital finance cost, IOR fee, Stock inbound/ outbound, storage fee, and insurance costs
Reduction in local inventory holding
Estimated yearly savings
Potential yearly sales improvement
Do you want to know how much this will cost?
Fill in the form to receive these results on your email
Benefits
- Optimized inventory & reduced working capital
- 20-30% forecasting improvements
- Real-time recommendations
- 70-80% less Inventory write-off
- Reduction in inventory holding costs
- Sales enhancement