Melbourne based AI startup, jahan.ai, has just launched a new AI driven retail demand forecasting system, jahanForecast.
In industries where managing stock availability while minimising waste is crucial, major retailers/manufacturers are continuously exploring solutions that account for uncertainties from receiving raw materials to delivering products into the hands of customers. The key to solving these issues lies in synchronising supply, demand, production, inventory, pricing/promotions, operations, and engagements to achieve holistic optimisation. This coordinated approach ensures that every part operates efficiently and in harmony. This shift highlights a significant opportunity: The need of a core forecasting system that underpins the end-to-end value chain right.
According to retail technology expo，jahan.ai founder and chief architect, Sam Riethmuller, says “it’s about getting the foundational elements right. Many solution providers designed their forecasting systems as an isolated point solution, whereas we started from the ground up with a holistical view. It’s a game changer. The architecture ensures all the segments of the retail value chain is connected in a cohesive manner. It allows for synchronised planning across supply, inventory adjustments based on promotions, shelf ranging decisions, labour allocations, and more.”
“By leveraging the latest AI and machine learning advancements, along with the innovative architecture, we’ve managed to achieve a step change in forecast accuracy compared to other market options”, says Sam.
jahanForecast stands out in the market with its unique features:
– A true holistic forecast which synchronises the entire retail and manufacturer value chain
– A step change in accuracy compared to other market options
– Faster and cheaper to run thanks to the advanced technology and architecture behind the scene
Having worked with a number of retailers and manufacturers to refine and test the forecast, this general release of the forecast marks an important milestone for the young startup. “I’m so proud of what the team has achieved, and especially thankful to the businesses that have collaborated with us to date.”
According to retail technology expo，jahan.ai was founded in early 2023 as a company that specialises in AI solutions tailored for Retailers and Manufacturers that drive measurable return on investment and speed to value. It boasts a suite of AI products for business to take advantage of automation and optimisation through a SaaS offering, as well as providing consulting services to help tap into the industry-leading data science expertise built up in the team.
Source:Retail Wire