Selling Products With No Historical Sales Data

To create effective ordering plans, supply chain managers need to forecast demand accurately. To do
that, they require reliable historical sales data, which may be impossible to get for some products,
such as new offerings with no sales history. In such cases, AI software can use the demand forecast
model for a similar existing product and automatically update it as new data comes in.

Minimizing Overstock And Stockouts

The trick with inventory planning is to order just the right amount of product to satisfy customer
demand while avoiding overstock or out-of-stock issues. AI solutions can constantly rebalance
demand and supply by automatically analyzing all available data and constraints.

As a result, these solutions give supply chain managers an optimal purchasing plan ready for
execution at any given time.