Ensuring Improved Efficiency with Machine Learning
Overcoming the challenge of inventory management with Cloud
Overview
Our client deals in Manufactuing industry. Our client has a family business of cloth manufacturing and owns three factory units in the city of Ahmedabad.
Challenges
The challenges faced by our client was inventory management. The client expressed that there was lack of proper inventory system as the maximum and minimum of inventory is not watched as per the demand and supply.
Another considerable obstacle for the company was demand forecasting. The company lacked in precise and accurate prediction of demand. This problem again added to the problem of undersupply or oversupply of inventory.
The company expressed its need to switch to advanced and better technological solutions of surviving in this cutthroat environment.
Solutions
Providentia’s technical team sincerely analysed the challenges faced by the organisation and offered them to leverage the benefit of cloud analytics.
Cloud analytics solves the major chunk of the client’s problem and would allow them to focus on other crucial tasks of their business. Cloud computing offers powerful analytics system to identify data patterns and provide actionable insights.
Cloud closely keeps a track of the minimum and maximum level of stock by recording the in and out of stock. This avoids the problem of both at times, shortage of stock and at times, accumulation of excess inventory.
Cloud analytics stores and analyses data in cloud and resolves the problem of demand forecasting. Cloud analytics also offers the benefits of scalability, security, cost reduction, and collaboration.
Impact
The solution offered by Providentia solved the problems of oversupply and undersupply of inventory and helped our client to keep a track of inventory.
Improvement in demand forecasting by
44%
Better inventory management by
68%
Hike in overall profitability by
