Revolutionizing Retail: 30% inventory management boost with Ascendion

Retailer streamlines inventory management by 30%

Ascendion June 28, 2023

We all know the phrase, “shop till you drop”. But wouldn’t you prefer your customers to shop without feeling fatigued by the end of it? Part of the fun of shopping is the whole experience.

Our retailer client was aware of this fact, and in turn, had a list of objectives they wanted accomplished—optimize inventory levels and the supply chain, enhance customer service, minimize costs, streamline production and procurement, and enable strategic planning. All this to say, they wanted an overall better experience for everyone involved.

Ascendion knew how to help—we started analyzing sales data, market trends, and more, from internal and external data sources, and focused on providing accurate forecasting.

Shop more (and easier), worry less

We implemented a scalable solution, easily adaptable to our client and their industry, accommodating varying demand patterns and supplying customized forecasting models to meet their specific business needs.

By using AI, we were able to analyze historical sales data, market trends, and other relevant factors, and then supply more accurate and reliable forecasts. Data from point-of-sale systems, supply chain management software, and market, were all crucial for our analysis. We made our client aware of our findings, so they could make informed decisions and respond quickly to changes in demand.

It’s all in the bag

By applying our AI solution, we were able to address each of our client’s concerns. We improved decision-making through data-driven insights, enhanced customer satisfaction through better inventory availability, and reduced stockouts and overstocks.

We were able to help our client increase operational efficiency, minimize manual work and errors, improve collaboration between departments, improve shopper experiences, and supply better resource allocation. Each of these also fostered a more efficient and agile business environment.

We specifically recognized the following impact:

  • 30% potential improvement in streamlined inventory management, optimized supply chain processes, and time/resource savings through automation

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