Using Machine Learning to Optimize Inventory and Extract New Insights
Businesses today are facing increasing pressure to maintain inventory levels effectively, as well as optimize inventory balance and placement. Uncertainty and disruption have become commonplace in the market; business data is growing exponentially and therefore more difficult to manage and learn from; and inventory is often misplaced, overstocked or out of date. To compound these challenges, end-customer expectations of service, quality and speed of delivery are at an all-time high.
Effective inventory control, coupled with the ability to predict customer behavior, can be the difference between success and failure. Today, more than ever, businesses must be able to:
- Quickly react to, as well as monetize, orphaned inventory
- Extract new insights from multiple demand signals, both inside and outside the enterprise
- Combine this data with machine learning technology for smart inventory allocations
Knowing what happened in the last two weeks has become more relevant to your business than what happened in the last two years. Leverage the Logility® Digital Supply Chain Platform to gain current, relevant insight, optimize inventory levels and create a competitive advantage for your business.
