Improve your inventory forecasts and drive better inventory health
Intellify's AI-Powered Inventory Management AWS Solutions Consulting Offer helps improve inventory health by automating inventory forecasting to take the time and guesswork out of inventory management.
Machine learning has surpassed the performance of traditional inventory forecasting techniques, yet most systems are still based on outdated methods. In the course of their AI-Powered Inventory Management consulting engagement, Intellify consultants use machine learning to create better demand forecasts, then leverage these forecasts to recommend specific inventory purchases. AI-Powered Inventory Management integrates with your existing enterprise resource management (ERP) and business intelligence (BI) systems to provide early warning for problem stock so you can address these issues before they hit your bottom line.
Because these forecasts are generated without human intervention, organizations using Intellify's technology often no longer require dedicated demand planning teams to create highly accurate forecasts, freeing up resources you can use to grow your business.
Availability
Australia, New Zealand, United States
Benefits
Better forecast accuracy
Machine learning produces better and more granular forecasts across your entire range.
Increase inventory turns
Better forecasts mean you can reduce your average stock levels and avoid over-purchasing.
Right stock, right place
Ensures you have stock in the right warehouses to cost-effectively meet service levels.
Simple integration
API or batch integration to simplify interaction with your existing ERP, BI, and inventory systems.
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How it works
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Key activities
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Customer contribution
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About this consultant
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Architecture diagram
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How it works
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In the course of the AI-Powered Inventory Management engagement, Intellify works with your subject-matter experts (SMEs) to understand the drivers of demand for your business and validate these drivers through data analysis. Intellify then builds the solution in your AWS environment so that you retain complete control and privacy of your data.
The demand forecast is built in Amazon Forecast and forms the foundation for the other parts of this solution. Intellify applies advanced data science techniques to achieve the most accurate demand forecasts possible. This involves ensuring the right data is available to Amazon Forecast and hints are given to the algorithm that allow it to understand your unique business traits such as seasonality and new products. The solution includes a custom dashboard tool that allows for easy verification of the demand forecasts and selection of the optimal model.
Once the optimal demand forecast model is selected, the demand forecast is passed into Amazon SageMaker where a number of custom models and calculations are run. The inventory forecast calculates inventory levels in each location in each future week. Problem stock is identified for early warning of items that will have excess inventory in future. Finally, inventory purchase recommendations are made, based on your target service levels, with timing and quantities of stock that your inventory team should buy.
The AI-Powered Inventory Management offer uses sales data from your existing ERP system with data passed in via Amazon Simple Storage Service (Amazon S3). You have complete control over the solution via an API. The resulting forecasts and reports are integrated back into your existing ERP and BI systems via Amazon S3 to make it easy for your staff to access the information in the tools they are already familiar with.
Maintenance of the solution is minimised by using a serverless architecture. The solution also includes automated reports of the demand forecast performance to allow you to identify when you may need to initiate retraining via the API. Managed services are also optionally available where Intellify will monitor the solution for you and do ongoing performance tuning of the forecasts.
A key feature of the engagement is a focus on building your SMEs' trust in the forecasts and recommendations. Intellify works closely with your SMEs to provide clear analysis of your data, solution prototypes, and simulations to quantitatively validate the solution.
Intellify adopts an agile delivery methodology and closely supports both your business and IT staff throughout the project.
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Key activities
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1) Requirements workshops
Workshops with key stakeholders to map current and future states.
2) Data integrationIntegrate with your existing ERP systems to get the required training data.
3) Machine learning modelingIteratively develop and evaluate forecast models to achieve high accuracy.
4) DeploymentBuild, integrate with your downstream systems, and test the end solution on AWS.
5) SupportOptional managed services if desired.
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Customer contribution
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Inventory team access
Explore how the supply chain works and workshop what outputs are required.
Technical team access
Allow consultants to plan, integrate, and test the integration with existing systems.
Data and systems access
Provide access to the AWS environment and data to build the solution.
Testing and validation
Review demand forecast to validate before deployment.
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About this consultant
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As an AWS Partner with Machine Learning Competency designation, Intellify delivers industry-leading machine learning solutions to help customers operate efficiently, grow exponentially, and build competitive advantage. Intellify's solutions are built on state-of-the-art cloud technologies and algorithms, meaning their customers realize the maximum benefits from cloud infrastructure including cost efficiency, scalability, manageability, and security.
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Architecture diagram
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Related Resources
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Intellify’s AWS validated qualifications, customer references, and office locations.
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