Pexaworks partnered with a client seeking to streamline their inventory management and enhance demand forecasting through the power of AI. The client was facing significant challenges with overstocking and out-of-stock situations, which were negatively impacting their revenue and operational efficiency. By leveraging advanced machine learning techniques, Pexaworks aimed to provide an intelligent solution that would not only predict demand accurately but also seamlessly integrate with the client’s existing systems to automate inventory replenishment and optimize overall performance.
Challenge
The client wanted to optimize their inventory management and demand forecasting using AI to reduce overstocking and out-of-stock situations, which was leading to significant losses.
Solution
Pexaworks built a machine learning-powered predictive analytics system that analyzed customer purchasing patterns, seasonality, and other external factors like market trends and social media mentions. The system provided accurate demand forecasts for each product line.
Integration
Integrated with the client’s existing ERP system to automate inventory replenishment.
Outcome
The client reduced overstocking by 25% and out-of-stock situations by 35%, resulting in a 15% increase in revenue and a 12% reduction in inventory costs.
Tech Stack
Python
R
TensorFlow
Scikit-learn
AWS
PostgreSQL
Lambda
Kubernetes
Docker