Logility, a leader in prescriptive supply chain planning solutions, has recently announced its acquisition of Garvis, a visionary SaaS startup. Garvis specializes in combining large language models (ChatGPT) with AI-native demand forecasting, resulting in a groundbreaking solution called DemandAI+. This strategic collaboration aims to revolutionize the supply chain planning industry by introducing a new paradigm that leverages generative AI and machine learning insights.
DemandAI+ represents a significant departure from traditional forecasting methods. By fusing generative AI with machine learning algorithms, it creates a more inclusive and intuitive planning paradigm. The solution digitizes supply chain relationships, making data accessible to all stakeholders across the organization. Through real-time, AI-powered responses to inquiries, planners, executives, and non-planners alike gain valuable insights and transparency, enabling more informed decision-making and saving precious planning time.
Built for the cloud, DemandAI+ will be integrated into the Logility® Digital Supply Chain Platform as the go-to solution for demand forecasting. This acquisition positions Logility as the industry’s sole supply chain planning platform that leverages generative AI, advanced algorithms, and machine learning. By addressing base demand, promotional lift, causal forecasts, external data, and user insights within a single solution, this innovative approach significantly improves forecast accuracy and aligns organizations in today’s dynamic market.
The transformative potential of this collaboration is evident in the impressive results achieved by Garvis clients thus far. AI-driven algorithms and natural language interfaces have enabled a 70% reduction in weekly planning time, a 15-30% decrease in forecast error, and improved inventory management. This demonstrates the power of AI in unlocking actionable insights into demand patterns and facilitating seamless communication across the organization.
Logility clients now have the opportunity to harness the capabilities of AI-driven insights for their supply chain planning needs. By embracing this cutting-edge technology, businesses can achieve rapid return on investment and gain a competitive edge in an ever-evolving market.
FAQ
What is DemandAI+?
DemandAI+ is a revolutionary demand forecasting solution that combines large language models with AI-native algorithms. By fusing generative AI and machine learning, DemandAI+ offers a more inclusive and intuitive planning paradigm that digitizes supply chain relationships and provides real-time insights to stakeholders across the organization.
How does DemandAI+ improve forecasting accuracy?
DemandAI+ addresses base demand, promotional lift, causal forecasts, external data, and user insights within a single solution. By leveraging advanced AI-driven algorithms and machine learning, it significantly improves forecast accuracy, enabling businesses to better align with market demands and optimize inventory management.
What benefits can businesses expect from using DemandAI+?
Businesses that adopt DemandAI+ can achieve a wide range of benefits, including a 70% reduction in weekly planning time, a 15-30% decrease in forecast error, and improved inventory management. These results empower organizations to make more informed decisions, save time, and enhance service levels.