Tredence

Improved inventory management and increased sales.

Operations

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Retail & Consumer

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Classification

Project Overview

The AI system predicts product out-of-stock situations in real-time by analyzing historical inventory, sales data, and patterns.

Layman's Explanation

This AI solution helps retailers anticipate when a product will be out of stock in a particular store. It does this by learning from past sales and inventory data, identifying unusual patterns that suggest a product might be unavailable even if the system says it's in stock.

Analogy

Imagine a grocery store manager who knows that every time a big game is on, they sell out of chips. This AI is like that manager but on a much larger scale and with more data. It looks for patterns like increased sales before events or consistently low stock of a product, even after restocking, to predict when the shelves might be empty.

Details

On-Shelf Availability Solution Accelerator by Tredence uses Databricks Lakehouse to prevent out-of-stock situations and improve sales and customer satisfaction.

Project Novelty

On-shelf availability forecasting is a novel approach to stock management.

Project Estimates

Timeline:

5 months

Cost:

$250,000

Headcount:

5

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