TL;DR:
- Logility acquires Garvis, a visionary SaaS startup specializing in AI-driven demand forecasting.
- The partnership introduces DemandAI+, a cutting-edge forecasting solution blending Generative AI and machine learning.
- DemandAI+ digitizes supply chain relationships, offering real-time insights to stakeholders.
- It becomes an integral part of the Logility® Digital Supply Chain Platform, promising enhanced forecast accuracy.
- The acquisition reinforces Logility’s position as a leader in AI-driven supply chain planning.
- Clients have achieved significant benefits, including a 70% reduction in planning time and improved inventory management.
Main AI News:
In a strategic move that promises to redefine supply chain planning, Logility, a prominent player in prescriptive supply chain planning solutions, has recently announced its acquisition of Garvis, a visionary SaaS startup. This groundbreaking collaboration brings together the power of large language models, such as ChatGPT, with AI-native demand forecasting capabilities.
Garvis, known for its innovative approach, has crafted an AI-first forecasting solution, now christened DemandAI+. By seamlessly integrating Generative AI with machine learning algorithms, DemandAI+ pioneers a contemporary, inclusive, and intuitive planning paradigm. It streamlines the digitization of supply chain relationships, making data accessible to stakeholders across the organization. Whether it’s planners, executives, or individuals from non-planning roles, they can all receive real-time answers to unexpected queries, fostering transparency and enabling more informed decision-making while saving valuable planning time.
DemandAI+, designed for cloud compatibility, is poised to become an integral component of the Logility® Digital Supply Chain Platform, serving as the go-to solution for demand forecasting. This acquisition, expected to yield positive results within a year, solidifies Logility’s position as the sole supply chain planning platform that harnesses the potential of Generative AI, advanced AI-driven algorithms, and machine learning. This innovative approach caters to a wide spectrum of forecasting needs, encompassing base demand, promotional lift, causal forecasts, external data, and user insights, all within a unified framework that enhances forecast accuracy and aligns organizations with today’s dynamic market landscape.
Allan Dow, President of Logility, commented on the significance of this move, stating, “We stand on the brink of a transformative era in supply chain planning, characterized by technological advancements, generational shifts among planners, and the rapid pace of market changes and disruptions. With AI as the cornerstone of their approach, Garvis has revolutionized how companies anticipate demand in this dynamic market. By integrating them into Logility’s portfolio, we aim to accelerate our shared vision of transcending the limitations of traditional, myopic supply chain planning solutions.”
Garvis’ success is attested by over 70 successful implementations, where clients have harnessed AI-driven algorithms and natural language interfaces to decipher buying patterns, market dynamics, and other pivotal events, translating them into forecasts across diverse product lines, geographic locations, and customer segments. DemandAI+ empowers companies to swiftly adapt to evolving circumstances, leading to enhanced forecast accuracy and service levels, even in scenarios involving heavily promoted, highly seasonal, or intermittent products.
Piet Buyck, CEO of Garvis, shared insights into the remarkable outcomes achieved by their clients: “Our clients have witnessed remarkable results, leveraging AI-driven algorithms and natural language interfaces to gain insights into demand fluctuations and promptly disseminate this knowledge across their organizations. These achievements include a staggering 70% reduction in weekly planning time, a 15-30% decrease in forecast errors, and enhanced inventory management—all achieved with remarkably swift implementation times.”
Conclusion:
Logility’s acquisition of Garvis and the introduction of DemandAI+ mark a significant step towards reshaping the supply chain planning landscape. The fusion of AI technologies not only enhances forecast accuracy but also empowers organizations to adapt swiftly to market dynamics. This move underscores the growing importance of AI-driven solutions in the business world, setting a precedent for the future of supply chain management.
