Teknosa is a leading electronics retailer providing its customers omnichannel shopping experiences through its physical stores, online and mobile platforms. The retailer offers a wide assortment including the latest consumer electronics and household appliances serving millions of customers everyday.
Teknosa had big ambitions to build on its success. To make well-informed, profit-optimal inventory decisions, maximize availability and create customer-centric assortments, the retailer needed superior inventory planning capabilities.
After surveying the retail planning technology market, Teknosa selected Invent Analytics due to the company’s advanced scientific experience and in-depth know-how in the retail industry.
The retailer rolled out invent.ai's Store and DC Replenishment Optimization, Transfer Optimization and Assortment Optimization solutions and reduced lost sales, increased sales, and profit margins.
Teknosa chose invent.ai for its expertise in electronics retail inventory optimization and ability to profit-optimize every single replenishment, transfer and assortment decision.
To stay at the forefront of electronics retailing, Teknosa wanted to achieve greater forecasting accuracy and manage inventory more efficiently.
The retailer aimed to accelerate its inventory optimization capabilities to be truly data-driven and take advantage of AI-based advanced analytics processes to make their supply chain planning future-proof. To achieve these goals, Teknosa needed robust, proven inventory optimization solutions.
With invent.ai's Store and DC Replenishment Optimization, Teknosa profit-optimizes its replenishment decisions taking the guesswork out of store and DC replenishment.
Today, the retailer can monitor KPIs automatically and continuously and adapt to demand shifts while planning for peak demand or increasing/decreasing demand situations.
As a result of the dynamic and smart positioning of inventory, Teknosa takes dynamic inventory optimization to the next level and continuously maximizes high stock availability and inventory turnover.
Using invent.ai's Transfer Optimization solution, Teknosa transfers products from underperforming locations to the stores with a higher probability of sales while solving the capacity imbalance between stores. By identifying the optimal transfer plan with the highest sales conversion of transferred inventory, the retailer achieves maximum sales uplift with minimum logistics and operation cost.
Invent.ai's Assortment Optimization enables Teknosa to make efficient, store-level optimal assortments and locally match each store’s product selection to customer preferences. It helps predict product, brand, and category trends across product attributes, optimize the shelf space to maximize availability and minimize excessive inventory.