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Perishable Product Procurement Optimization System

sigma.software

Retail

Food & Beverage

Challenge: Inaccurate Procurement Leading to Waste & Lost Profits

Global Retail Group currently experiences significant losses due to inaccurate procurement planning of perishable goods. Existing methods result in either overstocking, leading to product spoilage and waste, or understocking, leading to lost sales and dissatisfied customers. Current accuracy of approximately 70% is insufficient to optimize inventory levels and profitability.

About the Client

A large international retailer specializing in fresh produce, meat, and dairy products across multiple store locations.

Project Goals: Improve Inventory Accuracy & Reduce Waste

Improve sales prediction accuracy for perishable product categories by at least 10%.
Reduce inventory waste and spoilage by optimizing procurement quantities.
Minimize stockouts and lost sales due to insufficient inventory.
Improve overall profitability through optimized procurement practices.
Reduce hardware resource requirements for procurement planning system.

Functional Requirements

Sales forecasting based on historical data and adaptive models.
Automated procurement recommendations based on forecasted demand.
Inventory tracking and management.
Alerts for low stock levels and potential spoilage.
Reporting and analytics on procurement performance.
Integration with ERP and BI systems.

Preferred Technologies

Machine Learning (specifically, adaptive models and model selection algorithms)

Data Analytics

Cloud-based platform (e.g., AWS, Azure, GCP)

API integration capabilities

Required Integrations

ERP System (e.g., SAP, Oracle)
BI Solution (e.g., Tableau, Power BI)
Existing Procurement Planning System

Non-Functional Requirements

Scalability to handle large volumes of data and a growing number of product categories.
High performance for real-time forecasting and procurement recommendations.
Data security and privacy.
Reliability and availability.
User-friendly interface.

Expected Business Impact

Successful implementation is expected to result in a significant reduction in inventory waste (estimated 10%+), increased sales revenue, improved customer satisfaction, and optimized resource allocation. The project will also enhance Global Retail Group's ability to make data-driven decisions regarding product procurement.