AI to monitor customer ordering patterns and requirements to recommend inventory needs to the purchasing team
The Process
The client is a leading retail company. They have hundreds of stores spread across multiple countries, and inventory management was a completely manual and tedious task. With the continuous expansion of the business and increase in online sales, optimization of the inventory was becoming a critical success factor for growth.
Our Solution
Using our Artificial Intelligence (AI) and Machine Learning (ML) model, we developed a solution to automate the inventory management and monitoring process for the customer. The intent was to track stock from the time goods are ordered to received to shipped for customers. Real-time data was analyzed on stock requirements to create an automated order process for inventory. The AI tool monitored customer ordering patterns and requirements to recommend ordering needs to the purchasing team. The goods received were scanned for barcode and identified. The storage was optimized depending on the sales turnover of the products. Through this solution, we were able to automate 60% of the inventory monitoring work for the customer.
Challenges Addressed
Inaccurate Results
Lack of real-time product tracking data
Unoptimized inventory
Manually intensive process
Manual errors
The Outcomes
45 %
Reduction in labour cost for inventory management.4 %
Reduction in inventory cost in the first year.15 %
Reduction in storage space, by optimizing quantity requirements.
