Turning SKU data into increased revenue

Our client is a major global retailer and distributor with store, ecommerce and B2B retail channels. With over 1 million SKUs, changing customer demands and finite inventory space, not all products can be stocked for fast dispatch to customers. The existing method to decide what items should be in stock was determined by historical sales—this was inefficient, causing working capital to be tied up in inventory that wasn’t selling. On the other hand, inventory that was in demand and not stocked couldn’t be dispatched to customers quickly, impacting sales, revenue and customer experience.

Datasparq built a data product for the client’s inventory management team—a predictive model that determines the optimal inventory to stock. The product took into account a rich set of inputs such as ecommerce product views, ecommerce cart additions, price, product technology and more. The solution advises inventory controllers and category managers on which SKUs should be stocked with a clear explanation as to why. The result is increased sales and revenue, reduced storage costs and improved customer satisfaction.

How can Datasparq help you?

The end-to-end AI & data transformation company

Datasparq is an end-to-end AI & data transformation company. We help enterprises tackle complex, high-value business challenges using AI. Working as an integrated partner, we help the world’s best-known companies navigate the threats & opportunities of AI by designing, building and running cutting-edge solutions.

What makes Datasparq different?

• We’re practitioners—not PowerPointers. Our clients don’t just get a slide deck—in fact, we pride ourselves on getting things done. Our clients count on us to help them end-to-end—from finding ways to unlock the value in their data, to delivering and managing the finished product.
• Where data science meets design thinking. Our clients only get the A-team. We build bespoke, world-class teams for every unique challenge; carefully considering operational factors and putting end-users first. That’s where our SparQshop sessions come in.
• We’re here for people and the planet—not just profit. We’re part of the story about AI as a force for good. That means creating ethical, explainable AI that helps build a better world for everyone.