Fozzy Group Partners with invent.ai to Improve Its Demand Forecasting
invent.ai's AI-powered Demand Forecasting Solution empowers Fozzy Group’s objectives to optimize their inventory management and drive profitability by achieving higher forecasting accuracy.
Leading Ukrainian grocery retailer Fozzy Group has announced its partnership with invent.ai to improve its forecast accuracy. Fozzy Group undertook an extensive review of more than 10 solution providers for this project and selected invent.ai as it was the company that has provided the highest forecast accuracy during the POC period. invent.ai's AI-powered Demand Forecasting Solution will enable Fozzy Group to increase availability and decrease days of supply by creating forecast even at the lowest level of detail (Store-SKU-Day, Category –Channel- Week and so on).
Already a strong player in the retail space with over $3 billion annual revenue and 1100 stores, Fozzy Group expects the partnership with invent.ai to increase promotional item forecast accuracy and determine cannibalization and halo effects in substituting items, as well. invent.ai's technology will help Fozzy Group to improve new SKU and new store opening forecasting and empower the retail giant to improve inventory levels with decreased stock outs and spoilage.
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