Inventory management has been anything but simple these days. A global pandemic, labor shortages and product recalls have led to the “bullwhip effect.” Success will require leveraging technology to make critical business decisions, using AI/ML and what-if analysis to create a dynamic, flexible, resilient inventory management strategy.
While the terms “machine learning” and “artificial intelligence” are often used interchangeably, the main takeaway is that these advanced technologies offer better ways to solve complex planning problems. More organizations are recognizing their benefits to improve inventory forecasting accuracy and optimize stock replenishment.
International leader in ecommerce order fulfillment Webgistix announced this week the unveiling of SmartShip for ecommerce retailers. SmartShip will help make strategic approaches to inventory placement by leveraging Webgistix’s nationwide network of fulfillment centers to offer consumers faster and more economical shipping, according to a press release.