Optimal Inventory Levels Thanks to Artificial Intelligence
Reliable inventory forecasts enable cost-efficient warehouse operations and higher customer satisfaction. Precise demand forecasts can reduce sales losses due to inventory losses in the long term. With the help of Artificial Intelligence, inventory forecasts can be predicted more reliably and accurately.
Storage costs are tied up capital that is not available to the company for other purposes. Therefore, companies always try to minimize storage costs and at the same time provide what their customers need in a timely manner. The goal is lean and responsive inventory.
Implementation of an intelligent inventory forecasting technique that enables lean and responsive inventory management. Using Artificial Intelligence, warehouses should be able to forecast sales and expected demand to ensure that the available inventory always meets customer requirements.
Using Artificial Intelligence, parameters influencing the inventory can be permanently evaluated and analysed. Thanks to machine learning methods, dependencies are identified from historical and current data and adapted for future forecasts.