AI Use Case

Ensure inventory availability by predicting demand and triggering appropriate action

Predict likely demand for products and model rapidly changing scenarios (e.g. weather) to limit out of stock situations.

Function

Supply Chain

Procurement

Benefits

Cost - Reduced inventory costs

Case Studies

7-Eleven~7-Eleven improved customer marketing and in-store capacity planning in Indonesia and Mexico using machine learning to predict demand variations,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,Aston Martin~Aston Martin raises public first time availability target 2% to 97.5% and drives 18% reduction in safety stock value with machine learning engine,Kiabi~Kiabi increases in-store product availability by 7% by optimising supply chain management with machine learning,Shell~Shell saves over a million dollars annually by doing inventory analysis 32 times faster using machine learning,Alliance Boots ~Alliance Boots achieves inventory savings and improved service levels with machine learning optimisation algorithm,Lennox ~Lennox improves service levels by 16% and increases inventory turns by 25% with machine learning powered demand predictions,Unnamed global manufacturer~Unnamed global manufacturer reduces inventory costs by 25-35% and frees up working capital using machine learning,Big River Steel~Big River Steel is predicting the availability of scrap steel using a predictive AI engine,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,Stitch Fix~StitchFix keeps track of customer behavioural and purchase patterns to predict demand and manage inventory using state transition matrices and Markov chain models,The John Lewis Partnership~John Lewis improves shopping experience by keeping track of customer purchase patterns to predict inventory and tailor offers for individual customers with machine learning

Industry

Data Sets

Structured / Semi-structured

AI Technologies

Machine Learning (ML),ML Task - Prediction - Regression,Traditional AI,ML Task - Action Selection - Reinforcement Learning ,Model Architecture - Deep Neural Networks,Model Architecture - Recurrent Neural Network (RNN)

Potential Vendors

Blue Yonder,ToolsGroup,Infor,Databricks,ToolsGroup,C3 IoT,Noodle.ai,Intel,Adobe