SummitX 2024: AI Technology to Power Inventory Demand Forecasting and Product Lifecycle Management
Inventory management and demand forecasting is a challenging but essential part of the telecom retail business.
The vast amounts of data involved from all segments of the supply chain can make it extremely difficult to predict when and where products are needed. However, this is where new technologies such as artificial intelligence can be a game-changer.
At the 2024 Telecom Industry Address at SummitX recently, Trish Sale, iQmetrix’s Vice President of Product, took some time to delve into the challenges and possible solutions.
“Overstocking and understocking are major issues that affect telecom retailers,” Sale said to the SummitX audience in Scottsdale, Arizona. “I don’t need to tell you that — you live it every day.”
Sale explained to the audience how iQmetrix is currently developing and testing new AI-driven technologies to create new Product Lifecycle Management solutions, with the aim of launching products in 2025. These products will maximize inventory management efficiencies, offer accurate demand forecasting, increase revenues, and ensure sales are never missed because of stockouts.
Watch the seven-minute video recording of the Product Lifecycle Management section of the Industry Address, below
