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Narrative: A multinational food company implemented machine learning to refine its demand forecasts, while several industry studies demonstrate the transformative impact of AI on inventory management.
Challenge: Companies face constant stock-outs that result in lost sales, product obsolescence due to excess inventory, forecasting errors that affect planning, and overworked planning teams.
Benefit: 30% reduction in lost sales due to stock-outs, 30% less product obsolescence, 20% less forecast errors, up to 50% less planning team workload, and decreased demand errors by 30-50% with logistics costs reduced by 10-40%.