Enhancing inventory management for a Brick-and -Mortar Retail chain for improving stock management and customer satisfaction.
With effective inventory management, Brick and Mortar retail chains can manage stock levels, which directly impacts profitability. Our client faced challenges in optimizing inventory levels in its outlets across the country. They needed a solution to deal with excess inventory and also ensure of stock availability at times when its required.
Challenges Faced by the Client:
Overstocking increased the storage costs and increased unsold products. In some outlets the client faced excess inventory, however, they also faced stockouts for some products due to mismanagement, which resulted in a missed opportunity in sales. Inventory management mishandling was affecting profit levels with increasing cost of over stocking and loss from stockouts.
Clarion's Digital Transformation Solution:
- We reduced over stocking by 25% and developed AI-powered machine learning models with inventory forecasting through analysing historical sales data.
- We improved stock availability by 20% and monitored inventory levels with across all outlets with real-time optimization.
- We increased profit margins by 10% and integrated AI solutions with client's supply chain management system.
Conclusion:
Our AI-driven inventory supply chain management solution enhanced stock management, reduced costs, driving the client's business towards profitability.
