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Turntable

Featured Event
17 - 20 Oct
Booth #705, Orlando | Florida
Our Latest Talk
By Kanchan Ray, Chaitali Sengupta
60 mins
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success story

An intelligent inventory management system

Seamless supply chain control with AI-powered inventory management
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challenge

The client wanted to fully utilize their data and automate the entire process to ensure the inventory system responds to changes in demand flow (caused by external factors) smoothly. A key goal was to predict demand in real-time so that they could meet customer commitments quickly while accurately forecasting future demands, maximizing warehouse space, and freeing up cash flow.

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solution

Nagarro strategized the solution around a series of methodologies to deliver business value across all the parameters specified by the client. Multiple data sets, including historical sales data and nuanced data around festivals, promotions, elections, and other events, were used to build demand-driven forecasting models. A reinforcement learning approach strengthened the inventory ordering decisions. Model testing captured various levels of complexities and aspects of the product and production system to gain confidence in the accuracy of the predictions. Dashboards calculated and compared the various performance indicators to determine the AI-order system's efficacy. Finally, Nagarro set up a simulated business environment to help the client run different what-if scenarios to plan better.

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outcome

By improving access to data-driven insights, Nagarro's Decision Intelligence solution is helping the client improve forecasting accuracy and make better decisions about when and how to replenish their stock. Critical business decisions have become easier to make thanks to an intelligent system that can not only forecast demand spikes and drops but also react to and adjust to these changes in advance. With a high level of personalized service support, the client can now confidently manage customer expectations. Aside from benefits such as reduced invoice lead times, increased inventory coverage, and lower carrying costs, our AI-powered system is successfully assisting in transforming the complex challenge of supply chain management into a seamless experience for the client.