AI Use Case

Automate inventory management for products

Inventory Management - helping company calculate how many units are required where and when. This is precisely the sort of complex, data-rich, prediction-heavy closed loop where AI can potentially excel if the data tracking is accurate - so long as the unexpected does not intervene.

Function

Marketing

Merchandising

Benefits

Cost - Reduce wastage,Cost - Reduced inventory costs,Operational - Network optimisation

Case Studies

Levi Strauss & Company~Levi Strauss & Company achieves near 100% accuracy in tracking in-store inventory and identifies optimal product placement using sensors and visual recognition ,SteadyServ~SteadyServ manages inventory in real-time using a smart draft beer management system which monitors in-store inventory and analyses sales data to predict demand accurately,Henkel~Henkel uplifts its revenue by 2.1% by tracking distribution and share of shelf at granular SKU level leveraging visual recognition and sales data,Otto~Otto reduces the rate of product returns by predicting sales for the next three months with 90% accuracy using machine learning to understand consumer preferences,Granarolo~Granarolo reduces inventory levels by more than 50% and cuts capital and lead time in half using machine learning ,DeepMagic~DeepMagic offers a fully automated retail pop-up store which uses facial and image recognition to identify customers and determine what they pick up and put down,"Lowes~Lowes introduced Lowebot, a retail robot, to help customers and scan inventory in real-time to locate product or price discrepancies"

Industry

Consumer Goods And Services

Retail General

Data Sets

Structured / Semi-structured,Time series

AI Technologies

Product Type - Vision ,Machine Learning (ML),Product Type - Robotics,ML Task - Action Selection - Reinforcement Learning ,ML Task - Prediction - Annotation,ML Task - Prediction - Binary Classification,Product Type - Vision - Object detection,ML Task - Prediction - Multi-class Classification

Potential Vendors

Intel,Intel,Trax Retail,Blue Yonder,ToolsGroup,Fellow Robots