Blue Yonder’s AI/ML Capabilities Provides Canadian Tech Retailer Data-Driven Insights and Accurate Demand Forecasting
Blue Yonder, a leader in digital supply chain and omni-channel commerce fulfillment, recently completed an implementation of its SaaS-based demand planning solution for The Source, Canada’s largest tech retailer.
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Blue Yonder powers supply chain planning for The Source
Retailers are continually optimizing their operations to better serve their stores and customers. That’s why The Source, with e-commerce presence and over 300 stores across Canada, turned to Blue Yonder to help evolve its operations to strengthen the efficiency of its business.
Consumer electronics retailers offer a range of products in-stores and online, including low frequency electronics, such as TVs; hot, in-demand offerings, such as video game consoles; and fast-moving conveniences, such as chargers. As a result, forecasting demand for this range of product is often challenging. Thanks to Blue Yonder’s artificial intelligence (AI) and machine learning (ML) capabilities, The Source can now utilize data-driven forecasting to better plan for current and future demand of these products.
Blue Yonder’s solution has allowed The Source to:
- Increase automation in its forecasting process with AI and ML.
- Reduce unproductive inventory in its stores and distribution centers.
- Improve promotional sales in its stores.
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“Planning for and forecasting demand can be challenging in the consumer electronics sector, so we are excited by the results we have seen thanks to Blue Yonder’s solution. The implementation team worked diligently to gather quality data inputs, which resulted in the delivery of a new forecasting process that allows us to better service our customers, while profitably managing our business, both in stores and online,” said Andaleeb Dobson, vice president, Merchandising & Supply Chain, The Source.
Powered by Microsoft Azure and part of Luminate Planning portfolio, the demand planning solution utilizes AI and ML capabilities, allowing The Source to incorporate hundreds of variables that drive demand and in turn achieve a single, unbiased demand forecast that highlights calculated business risk and impact. The Source can then evaluate scenarios and leverage prescriptive recommendations to enable more accurate decisions; from staging the right inventory through the distribution network to minimizing stock-outs while maximizing inventory tuns.
“This was the first implementation of our demand planning solution with a consumer electronics retailer and we are proud of the results it has produced for The Source. It shows the power of AI and ML to help companies digitally transform their supply chain planning and demand forecasting to meet changing consumer demands,” said Terry Turner, president, Americas, Blue Yonder.
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