From Inaccurate Forecasting to Profitable Supply Chain: The Impact of Visionet's Next-Gen AI Solution on a Home Goods Store Chain

Challenge

Our client was facing several problems related to inventory and forecasting. The main issues identified were, excess inventory, Issues with right-sizing inventory, inaccurate forecasts, all leading to inefficiencies in their supply chain and decreased profitability which made the client look for a futuristic forecasting solution. 
 

Solution

This solution helped them analyze historical and real-time data, predict demand, set optimal stock levels, and identify slow-moving items. As a result, they were able to improve inventory turnover, reduce costs, and increase customer satisfaction. The implementation of the platform also resulted in a reduction of inventory carrying costs by $100M and an improvement in forecast generation with 87-94% accuracy. With this technology, they were able to turn the tide, achieve greater business agility, and thrive in the retail market.