The Eye is an ML/AI driven conversational bot to self-drive a replenishment/CX department. Cut inventory by 20%, up sales by 5%, forget attrition, improve productivity.
For a retail business, the age-old art of managing an efficient inventory has been the challenge to solve, the more optimal and lean the inventory, the more profitable and flexible the business. Traditional inventory models for all business sizes have existed for ages are all man/rule driven. TheEye uses machine learning to autonomously infer, drive and retrospect on variables that affect inventory thus reducing locked up cap by 20% and in the process, making a business truly self-driven.
A retail supermarket chain with 200 stores, 10K SKU per store spends 120K man-hours a year on replenishment planning. Even with the help of existing tools do they get it right? Almost every supermarket loses about 6-8% of its revenue to stockouts and has about 20% of unwanted locked up capital on inventory. Traditional inventory models are static. We are talking about 2000K combinations of rules to set up, track and correct forever. We believe that a learning machine can solve this problem.
It can be estimated that almost every supermarket has a 20-30% slack on its inventory (they end up holding this much more than what they should). This is a core retail problem and traditional inventory models have been at the helm of trying to solve this. The biggest challenge with these models has been that they are all man/rule(static) driven. Imagine setting up rules for 2000K combinations, in this case, imagine identifying the ones in error and reconfiguring them and repeating this process forever. One has to get this right for a supermarket as margins are low and the business has to depend on turns to be profitable.
How are we different?
Adoption
The Eye currently scores 51/100 in the Artificial Intelligence (AI) category. This is based on press buzz (18/100), recent user trends (falling), and other relevant information on The Eye gathered from around the web.
| The score for this software has stayed the same over the past month. What is this? |
Self drive your core retail function of replenishment using machine learning
Yes, there are roles specific to stores, warehouse and replenishment managers.
The algorithm is currently tuned for supermarket, pharmacy chains but in theory, can be adapted for any business that holds inventory and deals with repetitive buying and selling. If you have a business case that is close to the above but not in the target segment, feel free to talk to us for feasibility.
No.
Yes, we forward and reverse adapt with your ERP and Data warehouse/POS.
Yes, the application support both in app help, is a conversational system. Customer support is also provided.
This is not a POS or ERP and in theory, can sit on top of any POS/ERP and supplement the required cognitive intelligence a business needs for strategic decision making and tactical operations.
ERP and POS.
