22 Jul Discover Vekia, the pioneer in Machine Learning for Supply Chain
Are you familiar with the concept of machine learning? As a reminder, machine learning is a type of artificial intelligence that provides computers with the ability to learn without being explicitly programmed. Machine learning focuses on the development of computer programs that can teach themselves to grow and change when exposed to new data. It becomes even more interesting when machine learning is applied in the retail sector, reason why we would like to introduce a very promising start-up that helps retailers save millions of pounds…
In fact, the economic situation and the multitude of players, products and channels are shining a spotlight on the challenges faced by distribution businesses. It is essential to ensure that a retailer’s service provision is synchronised both with product cycles and the requirements of consumers. This means improving the quality of customer service while reducing costs at the same time.
There is a need for constant innovation, developing customer loyalty, promoting and strengthening brand image, developing the synergies between new services and channels, and achieving complete control of the omnichannel experience.
Optimising operational efficiency across all strategic processes has become a priority in Supply Chain. The primary objective for brands is to anticipate, synchronise and coordinate activities across the supply chain to ensure that it performs at the highest level of efficiency and with the greatest agility. To do so, Vekia has applied its expertise to develop a range of solutions that respond directly to these challenges, allowing customers to overcome them and to gain a competitive advantage in the market. Vekia’s team (composed of 60+ supply chain experts) have one simple obsession also shared by their clients: to get the right stock at the right place at the right time.
The company, founded by Manuel Davy, was born out of recent scientific research into applied mathematics: they design and edit predictive planning software that uses the latest advances in research to model the complex problems of supply chains.
Vekia is based in Lille and London and is partnering successfully with major European retailers with complex supply chain issues such as Leroy Merlin (DIY) or Galeries Lafayette (Department stores)… The more complex the supply chain scenario is, the more value they bring to the retailer as they literally turn the intrinsic value of the data into operational efficiency as they are able to forecast orders, compute the quantity of stock to be shipped to a given store on a given day…
Vekia has raised over 7M€ (£5.8M) and their wide range of solutions are deployed in more than 55 countries. Gartner has also identified Vekia’s solution as future proof in the Market Guide for Retail Forecasting and Replenishment Solutions. Learn more