Enhancing inventory accuracy and customer satisfaction through predictive analytics.
AI-Powered Demand Forecasting for a Large Retailer
Enabled the retailer to significantly improve inventory accuracy, reduce stock-outs and overstock situations, optimize warehouse operations, and enhance overall supply chain efficiency, leading to substantial cost savings and improved customer satisfaction.
Challenge
The retailer required highly accurate order predictions to optimize inventory levels, manage logistics, and streamline supply chain operations across their extensive Network.
Solution
We implemented a comprehensive demand forecasting solution. This involved: designing and building robust data engineering pipelines for preprocessing vast datasets from various sources (sales history, promotions, external factors); developing and deploying multiple Machine Learning models (e.g., time series, ensemble methods) that were evaluated and fine-tuned to predict the optimal demand for various products.
Impact & Results
Enabled the retailer to significantly improve inventory accuracy, reduce stock-outs and overstock situations, optimize warehouse operations, and enhance overall supply chain efficiency, leading to substantial cost savings and improved
customer satisfaction.
Reduced stockouts by 25%
Improved inventory accuracy
Enhanced customer satisfaction
Lowered excess inventory holding costs
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