Solving the Inventory Management of a Large Glass Manufacturer
Overview: A large U.S based glass manufacturer asked AltheonAI to improve their current sample inventory management processes, aligning with their mission of a being tech-innovative company. We also helped them with our proprietary web-scraping model demonstrated in the cost optimization solution.
Academia:
Significant studies discuss the use of deep learning for inventory management, specifically the Long Short-Term Memory (LSTM) theory. The research formulates the inventory management process as a mathematical model to minimize logistic costs and maximize profit. This approach has shown to predict customer demand trends with high accuracy and effectively reduce overall costs by about 25%.
Problem:
Lack of real-time data into their inventory levels and production trends
Manually tracked inventory leading to issues such as overproduction, stock shortages, and inefficient use of resources.
Real World Application:
AltheonAI analyzed the current processes and developed a product inventory tracking software interface that gives instant insights into manufacturing production trends for their marketing and sales team.
Impact:
Reduced the sample team's inventory management time by from 20+ hours per month to 30 minutes
Provided the marketing and sales team instant insight into their most popular products
Allowed for the timely restocking and discontinuation of certain products, saving costs in the longterm
