Ikigai Labs, a leader in AI for enterprise tabular and time-series data, has launched its new Demand Forecasting and Planning solution. Designed to tackle the increasing complexities of modern supply chains, the AI-powered platform utilizes Ikigai’s patented Large Graphical Model (LGM) technology to deliver highly accurate demand forecasts, even for new and unpredictable products. This innovation enables businesses to optimize inventory, avoid stockouts, and respond dynamically to market changes.
- Redefining Demand Forecasting:
- Traditional tools struggle with uncertainty and novel scenarios.
- Ikigai’s solution leverages AI designed for structured and time-series data, enabling smarter decision-making in volatile environments.
- Key capabilities: predicting demand for new products, aligning complex product hierarchies, and simulating “what-if” scenarios.
- Advanced Features of Ikigai’s Solution:
- Time2Vec Technology: Identifies hidden patterns in extensive datasets, uncovering trends overlooked by traditional methods.
- Data Reconciliation: Generates synthetic data for new products lacking historical demand.
- Expert-in-the-Loop (XITL): Combines AI insights with human expertise for precise forecasting refinement.
- External Data Integration: Dynamically adjusts forecasts using real-time data like weather, social sentiment, and events.
- Anomaly Detection: Spots outliers and demand changes, enabling proactive business adjustments.
- Key Use Cases Across Industries:
- New Product Launches: Forecast demand without historical data to minimize risks of overproduction or underproduction.
- Seasonality Management: Dynamically adjust inventory for peak seasons like holidays or back-to-school periods.
- Inventory Optimization: Prevent stockouts and excess inventory with accurate, range-based forecasts.
- Lifecycle Planning: Enhance decisions for product roadmaps and end-of-life strategies with actionable insights.
- Business Impact:
- Customers using Ikigai’s solution have reported:
- Over 30% improvement in forecast accuracy, significantly reducing costly errors.
- Decreased inventory costs and fewer stockouts.
- Enhanced agility and faster decision-making in volatile markets.
- Customers using Ikigai’s solution have reported:
- Customer Momentum and Validation:
- Notable customers include Delta Children, Hive Financial, Ivy Energy, and Verano.
- Strategic partnerships with CustomerInsights.ai and enVista further validate Ikigai’s leadership in forecasting solutions.
- Organizations are leveraging Ikigai’s generative AI technology for critical forecasting and planning challenges.
- Demand Forecasting with AI Workshops:
- Ikigai is offering Demand Forecasting with AI workshops, providing hands-on insights for practitioners, data scientists, and developers.
- Topics include data and forecast analysis, external data integration, and building forecasts for unpredictable scenarios.
Ikigai Labs’ Demand Forecasting and Planning solution is setting a new standard for AI-driven supply chain optimization. By addressing challenges like demand volatility and inventory management, the platform empowers businesses to make smarter decisions, reduce costs, and stay competitive in fast-changing markets.
