About the Client
A leading national clothing retailer with hundreds of brick-and-mortar stores, faced significant challenges in managing inventory levels. Stockouts led to lost sales and frustrated customers, while excess inventory resulted in wasted storage space and financial burden.
Challenges
Inaccurate Demand Forecasting: Traditional forecasting methods struggled to account for seasonal trends, weather fluctuations, and emerging fashion styles. This led to inaccurate inventory levels, impacting customer satisfaction and profitability.
Manual Inventory Management: Reliance on manual processes for inventory planning was time-consuming and prone to human error, making it difficult to adapt to dynamic market conditions.
Our Solution
We implemented a predictive AI solution to optimize our client’s inventory management. Here’s a breakdown:
- Data Integration: We built a data pipeline to collect and integrate data from various sources, including past sales records, point-of-sale transactions, weather forecasts, social media trends, and competitor analysis.
- Feature Engineering: We transformed the raw data into relevant features for machine learning models. This included factors like historical sales patterns, seasonality indicators, weather data, and social media sentiment analysis related to specific clothing styles.
- Predictive Modeling: We developed and trained a deep-learning model to predict future demand for each clothing item in each store location. The model considered historical trends, external data sources, and emerging fashion signals to provide highly accurate forecasts.
- Dynamic Inventory Management: The trained model continuously analyzes data and generates real-time recommendations for optimal inventory levels. This allows our client to proactively adjust stock levels based on predicted demand fluctuations.
Benefits Delivered
- Reduced Stockouts: By accurately predicting demand, our client minimized stockouts, ensuring product availability and preventing lost sales opportunities.
- Minimized Excess Inventory: The AI system optimized ordering quantities, reducing the amount of excess inventory held in stores and warehouses. This freed up valuable storage space and improved cash flow.
- Improved Customer Satisfaction: Higher product availability and reduced waiting times led to a more positive customer experience, boosting customer loyalty and repeat business.
Tech stack
Programming Languages: Java
Machine Learning Libraries: TensorFlow, PyTorch
Cloud Platform: AWS, Azure
Data Warehousing: Amazon Redshift, Microsoft SQL Server Analysis Services
About Emorphis
Emorphis Technologies is a world-class software development and solutions company that truly believes in “Innovation in motion”. Delivery innovation on the go at an accelerated pace has been our success mantra to date. Over the years we have provided value to our clients in the fields of enterprise mobility, cloud, IoT, backend development, Big Data Analytics, and Blockchain.
We serve industries ranging from unicorns, and startups to large multinationals in the healthcare, telecommunications, fintech, retail, and publishing industry. Our go-to-market software products – iStatement, iPublisher, and iBuggy have proved our metal with positive beneficial customer testimonials. We help our clients with successful product development, consulting services, and testing (manual & automated).
We have profound experience & expertise in various technologies like .Net, J2EE, PHP, iOS, Android, and Cloud Computing viz. Amazon Web services (AWS), Software QA & testing (Manual & Automation). Our designed products are cloud-ready and can be readily deployed on AWS/Azure cloud infrastructure.
Our pivot on engineering innovation and R&D helps quicken time-to-market, ensuring high quality at economies of scale, delivering cult competency for the global marketplace. We ensure that your ideas, concepts, and requirements are backed by brilliant execution at our end. Having said that we extend end-to-end ownership of product/application design, development, and deployment.
