LEAFIO AI Retail Solutions, which specializes in advanced technologies in the field of Artificial Intelligence-enabled inventory optimization, is pleased to announce its new partnership with Credit Asia, a renowned home appliances and consumer electronics chain operating in Central Asia. This partnership had been forged to improve the efficiency and accuracy of inventory management within Credit Asia's operations.
Credit Asia, a trusted name in the consumer electronics industry, operates a network of 11 stores and a thriving online platform offering a wide range of over 5,000 products. Aiming to make home appliances and electronics accessible to a wide range of customers, Credit Asia offers convenient credit and installment payment options.
Before the implementation of LEAFIO Inventory Optimization, Credit Asia's inventory management process was complicated due to manual ordering and decentralized practices. Purchasing managers monitored inventory availability, forecasted demand levels and placed orders manually, which was time-consuming and did not provide inventory management efficiency.
The goals of implementing the LEAFIO Inventory Optimization cloud solution at Credit Asia are multifaceted:
- Order automation: Credit Asia aims to move away from manual order management to a more structured and data-driven approach. Currently, all orders are generated manually, which requires contacting suppliers to check availability and place an order. LEAFIO Inventory Optimization will automate this process, ensuring orders are placed based on accurate data and forecasts.
- Efficient distribution of goods: The system will optimize the delivery of goods from the distribution center to individual stores. This will ensure that each store receives the right amount of merchandise, eliminating overstocking or shortage issues.
- Automated management of promotional campaigns: Credit Asia runs regular promotional campaigns throughout the year. LEAFIO will help automate the process of managing promotions, ensuring that the right amounts of products are automatically ordered at the right time. This will optimize promotional inventory and improve the overall customer experience.
- Improved forecasting: Accurate forecasting is critical in the retail industry. LEAFIO Inventory Optimization solution will provide Credit Asia with enhanced forecasting capabilities, allowing them to more accurately predict demand and make informed replenishment decisions.
"We are delighted to join forces with LEAFIO to transform the way we manage inventory. This partnership aligns perfectly with our commitment to provide the best customer experience by ensuring that products are available when and where our customers need them," says Timur Dzhangirov, CEO at Credit Asia, commenting on the partnership.
LEAFIO and Credit Asia teams are currently going through the first stage of system implementation, namely, integration with the retailer's ERP system. Soon, Credit Asia employees will be trained to work with the software, and then the pilot launch phase will begin, followed by scaling up to the entire network.
LEAFIO AI co-founder, Andrew Max, shared, "We are happy to partner with Credit Asia and support their mission to optimize inventory management, reduce operational complexity and increase customer satisfaction. Our solution, based on artificial intelligence and utilizing big data, will enable Credit Asia to stay ahead in the region's competitive market."
We wish the teams a successful completion of the project and look forward to sharing the impressive results upon completion.