Maximizing Efficiency in Raw Material Procurement through AI
Client Overview
Saudi Arabian multinational chemical manufacturer facing issues with inefficient order placement and scheduling, leading to excess inventory and occasional stockouts.
Business Challenge
Manual order processes resulted in suboptimal ordering quantities and timing, impacting inventory levels and procurement costs.
Solution Impact
Contributed to 8-10% savings in inventory carrying costs
Minimized instances of stockouts and excess inventory
Improved cash flow management through optimized order timing
Enhanced supplier relationship management through more predictable ordering patterns
Comprehensive vendor lead time analysis for improved scheduling
Integration and analysis of on-route and 3rd party shipment data
Evaluation of supplier formulas for optimized order placement
Our Approach
Implemented an AI-driven order optimization system that considers demand forecasts, price predictions, vendor lead times, and supplier formulas to determine optimal order quantities and timing.
Genesis AI drives innovation in manufacturing with AI and machine learning, optimizing processes and boosting productivity across industries like chemical, petrochemical, and automotive.
