Prepared for Tomoe I. | Delivered October 20, 2020
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.
, 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
of its stores in the San Francisco Bay Area.
The LoweBots are
5-inch high, bilingual, autonomous
retail robots that not only assist customers but produce real-time data as well. They create this data by leveraging both machine learning and computer vision in
scanning inventory and identifying patterns
in price or product discrepancies, and determining items that require
Equipped with laser-based sensors and a searchable computer display, they have
store navigation and advanced voice recognition
Lowe's designed the LoweBot to
its employees' time for more productive and complex tasks, and to
improve the experience
of its customers.
The LoweBot was a product of
Lowe's Innovation Labs
. It appears products at this laboratory are rolled out to a small fraction of customers once they achieve a success rate of
This particular application of artificial intelligence in inventory management has also been identified by one article as one of "
the 20 best examples
of use of AI for retail experiences."
Walgreens is also using AI to identify regions that require
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.
Your research manager recommends working with a
A Generalist is Industry Agnostic and give you the best value.
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