Whether you are a retailer, manufacturer, dealer, wholesaler, or distributor, inventory management is a crucial part of your operations. Issues with inventory can make or break the business. Without proper inventory management, it is very difficult for companies to maintain control and handle the needs of customers. Proper management of the supply chain, inflow and outflow allow the business to thrive in today’s competitive environment.
While inventory management has always been a critical part of any business, it has become more valuable over the past decade as consumer expectations and shopping behaviors have changed rapidly in the age of Amazon and Omni-channel. As the stress on retailers to keep up increases, in turn, they increase the demand on their suppliers to perform. Therefore, it is very important for suppliers to maintain excellent inventory management to be able to meet customer demands for fast fulfillment while optimizing their warehouse space and assortment allocation. Today, many new inventory management solution providers have surfaced using more advanced data-driven methods to provide transparency, clarity, and efficiency to these complex operations.
With modular architectures and customizable tools, these new inventory solution providers offer flexible inventory management software to suit any business size or vertical. They also provide more user-friendly interfaces and end-to-end data connectivity to streamline operations and reduce costs. Moreover, predictive and prescriptive analytics using AI is making it easy to analyze the mountains of data generated in commerce to inform better strategies based on the real-time insight of what is happening in the business. The space is also seeing the emergence of drones and robots using AI technology to check and re-stock inventories.
The latest edition of The Technology Headlines highlights 10 Fastest Growing Inventory Management Solution Providers to Watch in 2019 who are offering innovative solutions to achieve efficiency and productivity in operations.
We are honored that Algo.ai was chosen to be on this list and appreciate the recognition!
Read the latest edition of The Technology Headlines Magazine to see the complete list.