Inventory Management Through Intelligent Part Scoring & Grouping
Client Overview
A multinational chemical manufacturer in Saudi Arabia, managing a vast inventory of over 1.8 million Maintenance, Repair, and Operations (MRO) parts.
Business Challenge
Identifying duplicate spare parts was crucial to prevent inventory overload, capital wastage, and operational risks. Traditional approaches were inefficient for managing such a large inventory.
Solution Impact
Enhanced efficiency in duplicate detection and material categorization
Identified 193K duplicate pairs with low rejection rates of 10-20%
Cost savings of $10.53 million through inventory consolidation
8% improvement in Stock Transfer Optimization (STO)
Minimized inventory write-offs
Our Approach
Genesis AI implemented an innovative solution leveraging AI and machine learning algorithms for part identification and similarity scoring. A robust AI model accurately detected duplicates and enriched supplier data.
Genesis AI drives innovation in manufacturing with AI and machine learning, optimizing processes and boosting productivity across industries like chemical, petrochemical, and automotive.
