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Practical vs Pragmatic - How to Use GenAI to Optimize Inventory

Network Planning & Optimization track

đź“… Tuesday, October 1 at 1:30-2:15pm

Conventional wisdom used for planning and optimizing inventory is no longer sufficient in the face of unprecedented uncertainty and volatility. As data science methods (e.g., AI, GenAI, machine learning) evolve, supply chains must not haphazardly create AI initiatives that lack focus or don’t address the crux of their inventory planning challenges. Through experimental design, companies such as Border States can identify opportunities for applying AI to make higher-quality decisions that impact inventory. Attendees will hear how the distributor dramatically improved its lead time prediction using AI and ML, improving service and making its supply chain less susceptible to the ramifications of uncertainty and variability.

 

Kory Jacobson
Regional Procurement Director

Amber Salley
Vice President of Industry Solutions

Visit us at Booth # 738

Dave Shrager
CEO

Amber Salley
Vice President of Industry Solutions

Isaac Frank
Solution Consultant

Jeff Metersky
Vice President of Solution Strategy

Revolutionize your strategy with GAINS:

Step into the future where excellence and efficiency meet strategic innovation. 100% of users recommend GAINS. Beyond a SCM solution, GAINS are a strategic ally in reshaping your supply chain challenges into opportunities for success.

Optimize your inventory and keep your customer promises.

Comprehensive Reporting and Analytics

Provides detailed reports and dashboards for monitoring supply chain performance.

 

Helps identify areas for improvement and track key metrics.

Scenario Planning Tools

Allows businesses to simulate various scenarios and evaluate their impact on the supply chain.

 

Aids in strategic decision-making and risk mitigation.

Real-Time Visibility

Offers end-to-end visibility across the supply chain.

 

Enables proactive management of disruptions and swift response to changes.

Integrated Planning and Execution

Combines demand planning, supply planning, and inventory management into a unified platform.

 

Ensures cohesive and coordinated supply chain activities.

GAINS P3 Methodology

The P3 methodology helps organizations achieve a high level of supply chain maturity by integrating planning, predictive analytics, and performance optimization into a cohesive framework, ensures that businesses can adapt to changes quickly, mitigate risks effectively, and consistently meet customer expectations.

It encompasses three key components:

Plan

Creating robust supply chain plans that align with the strategic goals of the organization.

  • Demand Planning: Accurate forecasting to meet customer demand.
  • Inventory Planning: Ensuring optimal inventory levels to balance service levels and costs.
  • Supply Planning: Coordinating supply chain activities to ensure timely availability of products.

Predict

Advanced analytics and machine learning to anticipate future supply chain needs and challenges

  • Forecasting: Using historical data and trends to predict future demand.
  • Scenario Analysis: Evaluating different scenarios to understand potential outcomes and risks.
  • Risk Management: Identifying and mitigating potential disruptions in the supply chain.

Perform

The “Perform” component focuses on the execution and continuous improvement of supply chain operations.

  • Performance Monitoring: Tracking key performance indicators (KPIs) to ensure objectives are being met.
  • Optimization: Continuously improving processes to enhance efficiency and effectiveness.
  • Collaboration: Working closely with all stakeholders to ensure seamless operations and communication.

Connect with a GAINS distribution expert

FAQs

Who can benefit from using GAINS?

GAINS is suitable for a wide range of industries, including manufacturing, distribution, retail, and service parts. It is designed for companies looking to improve their supply chain performance, reduce costs, and enhance customer satisfaction.

 

GAINS leverages advanced algorithms and machine learning to provide accurate demand forecasting, optimal inventory levels, and efficient replenishment strategies. This helps businesses minimize stockouts, reduce excess inventory, and ensure timely delivery of products.

Yes, GAINS is designed to seamlessly integrate with various ERP, CRM, and other business systems. This ensures that data flows smoothly between different platforms, enabling a unified view of the supply chain and improved decision-making.

Key features of GAINS include:

  • Demand Forecasting
  • Inventory Optimization
  • Replenishment Planning
  • Sales & Operations
  • Planning (S&OP)
  • Supply Chain Analytics
  • Supplier Collaboration
  • Risk Management