AI in Inventory Management
Find examples of companies that have successfully used artificial intelligence (AI) and/or machine learning in improving how they manage their inventories or supply chains. The information will be used to understand the market for AI and/or machine learning in inventory management or supply chain management.
- Lowe's, one of the biggest retailers in the United States, is one example of a company that has utilized machine learning, a subset of artificial intelligence, in improving its inventory management. In 2016, it rolled out LoweBots to 11 of its stores in the San Francisco Bay Area.
- Walgreens is also using AI to identify regions that require more inventories of anti-viral products and other flu-related products.
- Walgreens leverages the troves of anti-viral prescription data it has across its network of over 8,000 locations.
Summary of Early Findings
- There appears to be plenty of information on the application of AI and/or machine learning in inventory or supply chain management.
- Providing three case studies of companies that have successfully used AI and/or machine learning to improve their inventory or supply chain management processes appears feasible.
- Providing related trends, statistics, challenges, and potential use cases appears feasible as well.
Proposed next steps:
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