Tuesday, 18 January, 2022
BWG group are investing 6.5 million euros into predictive buying technology across 1000 SPAR convenience stores in Ireland.
Store managers spend a long time trying predict what stock to buy and when. This means a 10% loss due to manual ordering. The result of which is a huge loss in time and resources.
Use smart AI technology that monitors customer behaviour and anticipates future factors like weather, sporting events and social media activity. The system is based on 240 different data points, including local events and can recommend new products store managers don’t stock, but sell fast. As more sales come in, the system will self analyse and improve over time.
The AI technology puts less pressure on the managers to get the buying right. Also, the system can also suggest new and top selling lines. This technology saves times and increases revenue.
BWG/SPAR could look at integrating this to other aspects of their business, ie the buying, logistics at the backend or directly linked to their marketing plans for end to end AI automated service. This will reduce more time and increase accuracy throughout the supply chain.
About case studies
One of the hardest things in business is to imagine what is possible with new technology. The case studies are designed to give a digest on projects around the world using the latest technology along with my insights. It is also a way of showcasing the companies and their products, services and innovation. Please note that we have no connection with companies named unless stated.
About Mike Nash
I also work with companies and clients around the world offering the latest AI advice. After many years creating and running successful businesses, I bring a wealth of commercially minded experience to help achieve the best with AI possible.
So whether you are start-up or multinational/government get in contact today and will be happy to started. Please feel free to contact me today.