Use AI to optimise working capital and keep customer satisfaction high while minimising inventory cost
Inventory optimisation is the process of maintaining optimal inventory levels to meet customer demand while minimising costs. It involves balancing a number of factors, such as stockout risks, carrying costs and ordering costs.
Inventory optimisation is a complex task, as it requires businesses to track a large amount of data, including inventory levels, sales data and supplier lead times. Additionally, businesses need to be able to forecast demand accurately in order to maintain optimal inventory levels. AI inventory optimisation solutions help businesses overcome the limitations of traditional inventory optimisation methods.
AI inventory optimisation solutions provide benefits, including:
AI-powered inventory optimisation solutions can benefit businesses in a wide range of industries, including retail, manufacturing, healthcare and logistics. They benefit businesses of all sizes, from small businesses to large enterprises.
Some of the specific roles that can benefit from AI-powered inventory optimisation solutions include:
AI inventory optimisation solutions typically work by analysing the following types of data:
This data is then used to train a machine learning model to predict demand and generate optimal inventory recommendations. The model can also be used to monitor inventory levels in real time and generate alerts when stockouts or overstocking are detected.
As outlined above, by balancing a number of factors, such as stockout risks, carrying costs and ordering costs, AI inventory optimisation solutions help businesses reduce costs, increase sales and improve profitability.
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