Business Wire 14-Jan-2019 8:30 AM
Innovations in Machine Learning and Artificial Intelligence Help Tap into Multiple Demand Signals to Sense and Respond with Greater Precision
Logility, Inc., a leading provider of advanced retail planning and collaborative supply chain optimization solutions, continues to deliver innovations that help retail and consumer goods businesses serve a more demanding consumer. At NRF 2019, Logility unveiled new advanced demand sensing and analytics capabilities to sense and respond with greater precision. Utilizing advanced artificial intelligence (AI) and machine learning (ML) techniques, Logility Voyager Solutions™ uncovers the hidden opportunities within both structured and unstructured data sources (demand signals) to help retailers sense and respond to the rapid shifts in consumer behavior and preferences.
Today, retailers are challenged to ensure each location and channel is able to profitably serve its consumers by placing the right merchandise at the right place at just the right time. Historically, retail planning teams might have to wait four or more weeks to receive sales and shipment information. Often, especially in fashion retail, this was too late as the planning team would be onto the next collection. Logility's enhanced demand sensing capabilities allow retailers to tap into data such as point of sale (POS), competitive pricing and promotions, as well as syndicated data sources such as weather and new housing starts to generate a more accurate demand forecast. This information helps retailers and consumer products companies sense market opportunities and deploy inventory based on precise allocation and replenishment plans by channel/location to ensure consumers are able to purchase the merchandise they want, when and where they want it.
Logility's machine learning algorithms utilize multiple demand signals to sense changes and automatically adjust the forecast and replenishment plans. The result is that Logility's demand sensing improves short-term forecasting by up to 40 percent while enabling organizations to have a leaner inventory deployment strategy, increased inventory turns and a greater than 10 percent customer service level improvement.
"Retail is about speed and the ability to cost effectively delight consumers across multiple channels," said Allan Dow, president, Logility. "We are bringing greater precision to retail forecasting and allowing planners to focus on the results and not the process. By turning data into action and automating routine processes we can significantly collapse planning cycles, remove risk and increase confidence in the plans."
To learn more, Logility invites attendees of NRF 2019: Retail's Big Show to stop by booth #4523.
Accelerating the digital supply chain from product concept to customer delivery, Logility helps companies seize new opportunities, sense and respond to changing market dynamics and more profitably manage their complex global businesses. Logility Voyager Solutions™ leverage an innovative blend of artificial intelligence (AI) and advanced analytics to automate planning, accelerate cycle times, increase precision, improve operating performance, break down business silos and deliver greater visibility. Logility's SaaS-based platform transforms sales and operations planning (S&OP) and integrated business planning (IBP) processes; demand, inventory and replenishment planning; global sourcing; quality and compliance management; product life cycle management; supply and inventory optimization; manufacturing planning and scheduling; retail merchandise planning, assortment and allocation. Logility customers include Big Lots, Fender Musical Instruments, Husqvarna Group, Parker Hannifin, Verizon Wireless, and VF Corporation. Logility is a wholly owned subsidiary of American Software, Inc. (NASDAQ:AMSWA), named one of the 100 Most Trustworthy Companies in America by Forbes. To learn how Logility can help you make smarter decisions faster, visit www.logility.com.
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, continuing U.S. and global economic uncertainty, the timing and degree of business recovery, unpredictability and the irregular pattern of future revenues, dependence on particular market segments or customers, competitive pressures, delays, product liability and warranty claims and other risks associated with new product development, undetected software errors, market acceptance of Logility's products, technological complexity, the challenges and risks associated with integration of acquired product lines, companies and services, as well as a number of other risk factors that could affect the Company's future performance. For further information about risks the Company and American Software could experience as well as other information, please refer to American Software, Inc.'s current Form 10-K and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information, contact: Vincent C. Klinges, Chief Financial Officer, American Software, Inc., (404) 264-5477 or fax: (404) 237-8868.
Logility® is a registered trademark and Logility Voyager Solutions™ is a trademark of Logility, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.
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