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Digital sales are rising, but businesses still struggle to meet profitability, rising logistics costs, and higher return rate ratios. The issue stems from the orthodox way of planning and selling, i.e., economies of scale.
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Compay Name: UCBOS, Inc.
Bio: UCBOS, Inc. is an Atlanta based global technology firm with the mission to provide the world’s first “No-Code Enterprise Application Platform” and revolutionize the notion of the composable enterprise. Its vision is to simplify Automation and AI/ML technologies and make them practical for business, operations, and IT to adapt and transcend coding, industry, and business limitations.
The manufacturing team takes the Product-Focused approach and makes ordering decisions based on consumer analysis and historical sales. A consolidated view into product sales volume, product inventory, product customer reviews, and logistics costs offers insights into the total cost to profit and alleviates supply chain burden from unwanted inventory, crowded shelves, reverse logistics, and handling costs.
Traditional silo approaches in planning and forecasting are failing big time today.
55.73% of Retail Supply Chain Executives are willing to invest in production planning and demand forecasting – Statista, 2021
They are failing with on-prem and even with the latest cloud services since ERPs and SCM systems are not able to get a consolidated view of supplier availability, in-transit availability, on-hand inventory, orders allocated, returns, anticipated sales, hot and obsolete inventory levels, costs, pricing, logistic bottlenecks, market conditions, and customer buying patterns in real time.
It is time to implement an Outside-In approach here.
Supply chain strategy teams are looking for business-driven models to plan and forecast by connecting every business signal in their ecosystem and their partners’ ecosystems.
In the recent digital era, shoppers leave enough data points to predict future sales, and retailers want to analyze that data and deliver customers what they want. Customer communities and brand forums capture customer preferences and new trends, and the same can be leveraged in the planning process with the power of a platform that converges data across the ecosystem to predict business moves.
Engineering teams want to plan and forecast using proven scientific and mathematical tools and employing ML & AI, employing all at the same time and choosing the best performing model for their enterprise.
More than half of the G2000 manufacturing companies say they will rely on AI for their supply chain management initiatives before 2024 – Inbound Logistics
Leveraging Machine Learning and Artificial Intelligence to predict customer buying patterns to further streamline manufacturing, procurement, and inventory allocation is one of the critical goals of digital acceleration. If deployed correctly, AI could amplify efficiencies throughout businesses’ digital channels.
Without such deployments, retailers’ supply chains remain vulnerable to future disruptions, rendering current supply chain investments obsolete.
The UCBOS machine learning module allows engineering teams to accomplish data sourcing, cleansing, analysis, model identification, activation, orchestration of the model in production, and finally incorporation of the feedback for further refinement – with Zero coding – in just days and weeks. This allows high speed to market.
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