Logility Extends Supply Chain Insights with InventoryAI+
September 28 2023 - 8:00AM
Business Wire
Powerful New Offering Optimizes Inventory with
Advanced AI and Machine Learning to Lower Costs while Improving
Service
Logility, Inc., a leader in prescriptive supply chain planning
solutions, today announced the extension of its inventory planning
and optimization capabilities with InventoryAI+.
Building on existing AI capabilities, InventoryAI+ improves
insights with enhanced AI and a fresh user experience designed for
today’s supply chain professional that empowers planners to resolve
issues in real-time and achieve higher levels of supply chain
performance.
Today companies suffer from overstocks, stock outs, and poor
service levels as they struggle to effectively manage inventory
across an exploding number of products with outdated legacy
systems. Going beyond simple safety stock calculations, and fixed
lead times, InventoryAI+ analyzes inventory performance against
plan and provides immediate insights into more profitable inventory
positions. The cloud-based solution provides planners with
real-time alerts that bring immediate visibility of exceptions and
proposed resolution of issues. Better yet, with intelligent
scoring, InventoryAI+ applies economic prioritization that focuses
attention to the most important opportunities – ultimately reducing
bloated inventories while increasing service levels and avoiding
deficits.
Additional new inventory planning capabilities automatically
identify the best inventory policy for each SKU at every stocking
location based on the most current information on demand, demand
variability, supply variability, lead-time between facilities,
inventory held at alternate stocking locations and the types of
inventories stocked at each facility. The Automated Inventory
Policies feature leverages AI to identify items with sporadic or
“lumpy” demand, such as wide size ranges, spare parts or industrial
equipment, and then applies a stochastic replenishment planning
approach. Results have shown service level improvements ranging
from 9-27% while lowering inventory levels and logistics costs.
“With all the dynamic challenges of managing today’s supply
chains, having a firm grasp of inventory is critically important.
InventoryAI+ provides the real-time insights needed to serve
customers at the highest possible level while carefully managing
cash positions. When combined with the power of DemandAI+ clients
will realize a significant transformation in supply chain
performance with InventoryAI+,” said Allan Dow, president of
Logility.
Consumers are demanding faster fulfillment across more channels,
putting the pressure on inventory management, especially with the
growing complexity of global supply chains. InventoryAI+ applies
machine learning and advanced analytics to optimize inventory at
multiple echelons – reaching far beyond finished goods to optimize
inventory across distribution, production, and sourcing locations.
While traditional inventory solutions only consider finished
products, InventoryAI+ factors work-in-progress, raw materials,
components, and subassemblies. This multi-echelon inventory
optimization (MEIO) identifies alternate inventory strategies and
offers supply chain leaders far more scenarios so they can quickly
respond to disruptions and market opportunities.
Built for the cloud, InventoryAI+ is part of the Logility®
Digital Supply Chain Platform. Current Logility clients can quickly
leverage these AI-driven insights as they upgrade to the new
solution, with minimal training required. To learn more about these
innovative new capabilities, visit
https://www.logility.com/solutions/inventory/.
About Logility
Logility’s Digital Supply Chain Platform delivers optimized
demand, inventory, manufacturing, and supply plans – helping to
provide executives the confidence and control to increase margins
and service levels, while delivering sustainable supply chains.
Designed for speed and agility, Logility’s (SaaS) cloud-based
platform provides an innovative blend of artificial intelligence
(AI) and predictive analytics to help deliver integrated planning
and operations across the end-to-end supply chain. Our prescriptive
approach drives team alignment for over 800 customers in 80
countries with prioritized outcomes that assure demonstrable value.
Logility is a wholly-owned subsidiary of American Software, Inc.
(NASDAQ: AMSWA). Learn more at logility.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to substantial risks and uncertainties. References below to
the company means Logility, Inc. There are a number of factors that
could cause actual results or performance to differ materially from
what is anticipated by statements made herein. These factors
include, but are not limited to, continuing U.S. and global
economic uncertainty and the timing and degree of business
recovery; the irregular pattern of the Company’s revenues;
dependence on particular market segments or clients; competitive
pressures; market acceptance of the Company’s products and
services; technological complexity; undetected software errors;
potential product liability or warranty claims; risks associated
with new product development; the challenges and risks associated
with integration of acquired product lines, companies and services;
uncertainty about the viability and effectiveness of strategic
alliances; American Software, Inc.’s ability to satisfy in a timely
manner all Securities and Exchange Commission (SEC) required
filings and the requirements of Section 404 of the Sarbanes-Oxley
Act of 2002 and the rules and regulations adopted under that
Section; as well as a number of other risk factors that could
affect the Company’s future performance. For further information
about risks the Company and American Software could experience as
well as other information, please refer to American Software,
Inc.’s current Form 10-K and other reports and documents
subsequently filed with the SEC. For more information, contact:
Kevin Liu, American Software, Inc., (626) 657-0013 or email
kliu@amsoftware.com.
Logility® is a registered trademark of Logility, Inc. Other
products mentioned in this document are registered, trademarked or
service marked by their respective owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230928049638/en/
Heather Coyle Press@Logility.com
American Software (NASDAQ:AMSWA)
Historical Stock Chart
From Apr 2024 to May 2024
American Software (NASDAQ:AMSWA)
Historical Stock Chart
From May 2023 to May 2024