How Will Artificial Intelligence Transform Inventory Management?

The implementation of robust AI solutions will enable organizations to enhance their inventory management with accurate data-driven forecasting. FREMONT, CA: Despite the advances in the logistics sector, many challenges still pervade inventory management. The lack of demand forecasting has often led to excesses and shortages, resulting in substantial losses to the companies. To solve this problem, organizations are spending in millions, employing forecasting experts and software such as ERP, CRM, and EMS to enhance their operations. Organizations have failed to harness the potential of data generated from the various functions of inventory management, including planning, procurement, production, distribution, and fulfillment.