Using AI to Optimize Purchasing, Inventory, and Sales for Distributors

Originally Aired - Wednesday, November 20 • 10:15 AM - 11:15 AM

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Location: Islander A, North Convention Center

Event Information

Title: Using AI to Optimize Purchasing, Inventory, and Sales for Distributors

Cost: Available to All Access Passes Only

Description:

Artificial Intelligence (AI) is, in essence, software that is connected to sensors or data and can process, learn from, and produce useful results. That might be a complicated data-driven insight, the ability to forecast supply fluctuations, or the lightning-fast execution of big data tasks like voice chat, facial recognition, and medical scans.

In this session, Pete Zimmerman will explore how AI can:

Boost Sales
Improve inventory
Optimize purchasing and sales efforts

This session will explore how AI can assist supply and demand planning in the following ways:

Cost reduction by consolidating purchase orders and smart buys - how much to buy if a price increase is coming, how much to buy if lead times are expected to change.
Improved customer service and service standards by reducing out of stock items. Merge vendors and categories to meet freight - AI can recommend the additional purchase of items from vendors to meet minimum fright requirements - thus reducing overall product cost.
Item suggestion detail giving with profile exploration and thorough data review.
Ability to manage multiple warehouses.
Optimization of nonstock, special-order items.

Type: Seminars