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Global footwear retailer selects invent.ai for AI-powered forecasting

Leading footwear retailer with invent.ai to improve demand forecasting across 400 stores, online channels and e-commerce marketplaces

woman engaging in shoe shopping at global footwear company thats well stocked due to ai-powered demand forecasting for retail

30 May 2022 - invent.ai, a leading provider of AI-based demand forecasting and inventory planning solutions, announced a new partnership with global footwear retailer. The retailer operates in over 40 countries with nearly 1000 employees. With invent.ai, the retailer will establish omnichannel demand forecasting in multi-dimensions.

The partnership will help the retailer enhance its forecast accuracy for multiple sales channels including stores, outlets, online and digital channels, and e-commerce marketplaces. invent.ai will utilize its retail demand forecasting capabilities for the retailer to forecast different product and location combinations for varying decision time windows.

We integrate physical and digital channels into an omnichannel retail format to deliver remarkable experiences to our customers at every point of their journey. And we are very excited to work with invent.ai on this Omnichannel demand forecasting project. Their sophisticated AI-powered capabilities and deep know-how in the retail industry will help us to forecast better. Our goal is to do better inventory management across different channels and increase sales with more accurate demand forecasting."

Deputy CEO, footwear retailer

 

Leveraging machine learning

Leveraging machine learning algorithms and deep analytics, invent.ai will help the retailer predict the demand. To achieve the highest forecast accuracy, invent.ai will take into account many variables such as customer information, product attributes and external factors (weather, tourism, competitors and so on). As a result of this project, the retailer will be able to increase its inventory efficiency, optimize margins, and better manage its sales optimization for its sophisticated omni-channel structure.

"We are thrilled this retailer chose us as their trusted partner to support their omnichannel strategy. We are pleased to be adding such a pioneer omnichannel retailer to our customer base. As the retailer continues to accelerate its omni-channel capabilities, we will be working alongside them. Our goal is to generate more accurate omnichannel forecasts, help them manage multi-dimensional channel structure and position inventory smartly at the right amount at each location."

Ozgur Karabulut, VP of Solutions, invent.ai

About invent.ai

Invent.ai is a pioneering AI-Decisioning Platform that gives retailers superpowers to make the best planning and operational decisions to grow sales, revenue and margin dollars. Delivering fast, measurable value through its technology solutions, invent.ai brings together retail planning data, predicts outcomes and optimizes inventory, pricing and merchandising.

Recognized as a Representative Vendor in 2024 Gartner® Market Guide for Retail Forecasting, Allocation and Replenishment Solutions and for Retail Unified Price, Promotion and Markdown Optimization Applications - Short Life Cycle, awarded the 2024 RetailTech Breakthrough Awards’ Customer Experience Award, SupplyChainBrain’s 2024 Great Supply Chain Partner and Supply & Demand Chain Executive’s 2024 Top Supply Chain Projects award.