In an exciting move in the tech and business world, Logility, a prescriptive supply chain planning solutions giant, has announced its definitive agreement to acquire Garvis, an innovative SaaS startup. This decision marks a significant shift towards the integration of large language models (ChatGPT) with AI-native demand forecasting in supply chain planning.
Logility Announces Acquisition of AI Startup Garvis
With this strategic acquisition, Logility aims to elevate conventional supply chain planning methods by introducing DemandAI+, an AI-first solution by Garvis. Leveraging Generative AI and machine learning algorithms, DemandAI+ revolutionizes supply chain planning by instantly digitizing supply chain relationships and offering real-time data transparency to stakeholders for informed decision-making.
Combining AI and Supply Chain Planning with DemandAI+
DemandAI+ takes an innovative leap by addressing base demand, promotional lift, causal forecasts, external data, and user insights within a single AI-driven solution. Designed for the cloud, it will be embedded into the Logility® Digital Supply Chain Platform, thereby becoming the solution for demand forecasting. This approach is expected to improve forecast accuracy and better align organizations to today’s rapidly evoling market dynamics.
Potential Impact and Clients’ Achievements with AI Solutions
Already validated over 70 implementations, DemandAI+ has effectively translated buying behavior, market dynamics, and other events into forecasts across products, locations, and customers. It empowers companies to react to shifts as they occur, thereby enhancing forecast accuracy and service levels. Its customers reportedly have experienced significant benefits, with up to 70% savings of weekly planning time and 15-30% reduction in forecast error.
In conclusion, Logility’s acquisition of Garvis is a game-changing move in supply chain planning. Harnessing AI’s full potential, DemandAI+ ushers in a new era of forecasting efficiency and transparency. As this technology further integrates into the Logility Digital Supply Chain Platform, clients can expect to see even more dramatic improvements in service levels, decreasing forecast error, and making supply chain planning more robust and responsive than ever before.
Don’t miss our latest Startup News: Boosting Connectivity: Virginia’s ACP Empowers Students