For a lot of leader, the fact is not obvious, that the stored data, and the necessary documentation today is not a drawback, but a power. The more data you have from a process, the more cost can be saved on that task. With the 21 century’s electricity, which is artificial intelligence, you can acquire an adviser, supportive forecasting system, which watching solely the company’s interest, and save money for you.
„Use your data for future forecasting”
Demand and Supply
If we sell something, our main goal is to supply as much as the consumers demand. Not more , not less. For decades, the staff responsible for ordering, with help of their expertise and professional experience, determined the scale of the supply. Let’s see, it’s not a simple task, because the demand is influenced with numerous factor, starting with the randomness, social morality and unrealistic needs due to the advertisement. The figure shows the result:
The supplier orders can aggregate huge loss, which can come from the supply shortages, or from the expired products caused by over-supply, or from lack of warehousing space, etc. The cause of this problem is the inaccurate forecasting, which is not surprising, taking account into the huge amount of data.
The stored data can be the base of an accurate future forecasting, with the help of artificial intelligence, in that way, with an optimized order strategy, you can reduce the upcoming costs.
„Don’t just store, use it!”
Nowadays in every company ca be found a process or a field, where the information is saved, stored via data.
- scanned document
- digital document, pdf or docx
- tables, with rows an columns (Excel)
The list is endless, but the common thing is: DATA. This can be stored in place, or in the cloud server. Don’t just store it, USE IT!
We are certain that elements of your business’s workflow can be automated with AI: If you would like to enjoy the benefits of Artificial Intelligence, apply for our free, in-person consultation through on one of our contacts.