PROCUREMENT AND SOURCING, SUPPLY CHAIN

SymphonyAI Retail CPG Partners With PredictHQ To Improve Supply Chain Demand Forecasting AI Accuracy

SymphonyAI | September 22, 2022 | Read time : 03:18 min

SymphonyAI Retail CPG Partners
SymphonyAI Retail CPG, a leading provider of end-to-end, integrated AI-powered merchandising, marketing, and supply chain solutions for retailers and CPG manufacturers, has announced a partnership and integration with PredictHQ, the demand intelligence company. Customers of SymphonyAI Retail CPG Supply Chain Demand Forecasting AI will benefit from more timely, accurate forecasting results through PredictHQ’s demand intelligence data.SymphonyAI Retail CPG provides AI-driven forecasting results, which show a vast accuracy and performance improvement over traditional statistical models. However, AI-driven solutions are only as good as the contextual data provided to them, and PredictHQ enhances the quality and quantity of that contextual data. By accessing PredictHQ event data along with other existing data used by SymphonyAI Retail CPG Demand Forecasting AI, retailers gain access to even greater accuracy and reliability in their forecasts.

The partnership will result in PredictHQ’s verified and enriched event data being integrated into SymphonyAI Retail CPG’s forecasting systems. This will enable SymphonyAI Retail CPG’s customers in 17 countries to better preempt and prepare for the demand impact of events such as public holidays, school holidays, and observances.

“Faced with unrelenting supply chain chaos, retailers and CPGs who use data-driven, AI-based solutions gain deep competitive advantage and measurable business results, Our industry-leading AI modeling provides superior forecasting for retail demand planning, so customers can optimize product availability and decrease out-of-stocks, waste, and spoilage, and gain deeper insights into sales patterns and anomalies. The partnership with PredictHQ will broaden access to rich, critical data within and outside customer organizations.”

-Raj Marimuthu, chief customer success officer and GM of supply chain management at SymphonyAI Retail CPG.

“As the pace of change in shopper demand patterns, market conditions, and supply chain constraints accelerates, demand forecasting AI that uses state-of-the-art models reduces guesswork and gives users a more strategic view,” said PredictHQ CEO Campbell Brown. “We are delighted to team with an AI innovator like SymphonyAI Retail CPG to enhance contextual data with seamless access to global and localized events, seasonality, weather, and more.”

About PredictHQ
PredictHQ, the demand intelligence company, empowers global organizations to anticipate changes in demand for their products and services. PredictHQ's demand intelligence API aggregates events from hundreds of sources and verifies, enriches, and ranks them by predicted impact so companies can proactively discover catalysts that will impact demand. With PredictHQ, businesses gain a leg up on the competition and remain confident in their ability to meet customers' ever-changing needs.

About SymphonyAI
SymphonyAI is building the leading enterprise AI company for digital transformation across the most important and resilient growth verticals, including retail, consumer packaged goods, finance, manufacturing, media, and IT service management. SymphonyAI verticals have many leading enterprises as clients. Since its founding in 2017, SymphonyAI has grown rapidly to 2,000 talented leaders, data scientists, and other professionals. SymphonyAI is an SAIGroup company, backed by a $1 billion commitment from Dr. Romesh Wadhwani, a successful entrepreneur and philanthropist.

About SymphonyAI Retail CPG
SymphonyAI Retail CPG, a SymphonyAI vertical, is a leading provider of end-to-end, integrated AI-powered merchandising, marketing, and supply chain solutions for retailers and CPG manufacturers worldwide. Harnessing the power of AI, SymphonyAI Retail CPG solutions enhance agility, performance, and revenue growth across the retail value chain from source to consumer. Trusted by more than 1,200 leading retailers and manufacturers, SymphonyAI Retail CPG serves 15 of the top 25 global grocery retailers, the top 25 global CPG manufacturers, thousands of retail brands, and hundreds of national and regional chains. SymphonyAI Retail CPG is transforming retail and building a culture of contributing to positive change: SymphonyAI Retail CPG achieved 2022 Great Place to Work certification in all nine countries for which it was eligible.

Spotlight

The new wave of digital technologies that connect markets, empower consumers, and incentivizes innovation—has given birth to the omnichannel world. Consumer Packaged Goods companies now gain key insights into the needs
and choices of their consumer through omnichannel interactions, and use this data to digitally reimagine their supply chains. Smarter supply networks are simply better at responding to customer demands.


Other News
SUSTAINABILITY,SUPPLY CHAIN

EarlyBirds Brings Innovation for Supply Chain Integration, Resilience and Sustainability

EarlyBirds | December 22, 2022

EarlyBirds, has developed an open innovation ecosystem platform with services that brings together innovators, early adopters, and subject matter experts (SMEs) to come up with ways to hasten technology advancement and adoption in an organisation, wants to help businesses bring the latest innovations for supply chain networks. This is vital because Gartner has recently pointed out the growing need for more resilient, integrated, and sustainable supply chain networks. All Chief Supply Chain Officers (CSCOs) have to contend with one major issue in the upcoming years. This is overcoming and managing macro changes in the supply chain networks, whether it is geopolitical instability, increased e-commerce, or increased digitalization and automation needs. Technological innovations are therefore essential for supply chains to navigate those changes while keeping their economic viability and meeting purpose-driven goals. Organisations need to become early adopters of the appropriate technologies and EarlyBirds can helpMany industries are besieged by supply chain challenges that surfaced during the lock downs throughout the world because of the Covid-19 pandemic. The situation has deteriorated due to the impact of the war in Ukraine. To overcome these problems and remain viable, organisations need to boost their resilience in any way possible. This means finding ways to minimise the impact of the volatile market pricing of commodities, including developing protective measures for their supply chains to deal with increasing logistical costs and shortages. It is vital for companies to map out the entire supply chains and examine their exposure to supply and inflation risks. In this manner, they would be able to find ways to alleviate the risks, such as becoming more self-reliant and looking for alternative suppliers. As a result, supply chains are expected to become more complex and more dispersed in various parts of the world. With this trend, in the near future, it is expected that supply chains will rely on various technological innovations, such as cloud computing, big data, Robotic Process Automation (RPA), Artificial Intelligence (AI), and the Internet of Things (IoT) to comply with future demand. Big data in logistics is still quite new but it serves as the foundation for AI, RPA, and cloud computing in becoming more effective and accurate by simplifying tasks and then relegating them to automated systems. Currently, most organisations do not have the knowledge and tools to explore and apply big data to their supply chains but with technological developments, these are expected to become more accessible in the future. That is why innovators play an important role in the EarlyBirds platform and services, by providing innovations that companies need for improving their supply chains. EarlyBirds can serve as the ideal partner for all kinds of organisations with their supply chain networks ranging from their strategic innovation programs and the development of solutions for immediate technical and business challenges. EarlyBirds offers unique and proven abilities to determine the innovation needs for businesses and offer options across all kinds of industries. They can help in the establishment of innovation maps based on a technical or business theme linking the desired strategic innovation results to the organisation’s response to the continuously changing industry. About EarlyBirds The EarlyBirds platform provides the most efficient way for early adopters and innovators to get together and achieve a win-win situation. Businesses needing solutions to their problems may find suitable innovative products or services for their challenges and problems. The early adopters are businesses or organisations who are keen on adopting or embracing disruptive new technologies to solve various problems and challenges. Innovators are typically startups, scaleups, and mature businesses seeking growth by offering new technologies and innovation. SMEs can offer their services as consultants on how to use a particular new technology for a certain business challenge. Those who are interested in learning more about how the Early Birds open innovation ecosystem platform and services can visit the EarlyBirds website at earlybirds.io.

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Spotlight

The new wave of digital technologies that connect markets, empower consumers, and incentivizes innovation—has given birth to the omnichannel world. Consumer Packaged Goods companies now gain key insights into the needs
and choices of their consumer through omnichannel interactions, and use this data to digitally reimagine their supply chains. Smarter supply networks are simply better at responding to customer demands.

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