LEAFIO AI Retail Solutions, one of the most technologically advanced providers in the retail optimization solutions market, and MINII DELGUUR LLC, the largest grocery retailer in Mongolia, have recently signed a long-term contract.
MINII DELGUUR LLC is a rapidly expanding hard discount operator with a strong history of ushering innovation in the country's retail industry. Operating 45 stores in 2022 and it plans to grow to 300 branches and 20% market share by 2026. The group is the pioneer of the discount retail concept in Mongolia as well as centralized logistics, category management and private label development.
The cloud-based technologies and professionalism of the LEAFIO team have enabled retailers to adopt transformations with higher reliability and speed for more than 15 years. Outstanding results in improving business efficiency from the first months of product implementation have become the major strength of the company. This has been proven with its unshakable reputation, long-term partnerships and the success of more than 160 completed projects.
“The fact that at the end of 2021, the Mongolian Parliament adopted a new 10-year development plan aimed at increasing national productivity through improved transport logistics, digitalization, waste reduction and “green” development was a strong argument for us that we are definitely interested in working with this market,” says Alex Medwin, CEO of LEAFIO AI Retail Solutions.
There is no denying the fact that despite the growth trends of the last decade, COVID-19 and the Russian invasion of Ukraine have significantly stressed the Mongolian economy. The country is currently facing strong headwinds, including high inflation, which has reduced average household income and consumption. This has also had an impact on the local retail market and has required the adjustment of previously approved development strategies.
“I am sincerely delighted by the fact that under the current conditions, the vector of MINII DELGUUR LLC is aimed specifically at automating business processes, reducing waste and improving environmental friendliness. I am sure that in the near future such an approach can ensure the sustainability of not only one specific business but the country's entire economy. And I am very proud that MINII has chosen us as a strategic partner in this complicated but noble challenge,” shares the CEO of LEAFIO AI Retail Solutions.
Reducing waste and excess inventory, as well as significantly increasing turnover, are among the key objectives in implementing the Leafio Inventory Optimization platform for the MINII retail chain. In addition, it is envisioned that 100% of the orders planning will be carried out by the system's AI algorithms. The project will also implement effective supply chain resilience functions. Notably, there is also an agreed upon clear and effective training program for future inventory planners conducted by experienced consultants from LEAFIO.
“MINII's mission is to improve the daily lives of the many through offering affordable and healthy products by operating more efficiently than our competition. Leafio will help us not only to improve our numeric KPIs but also to set the required stepping stones for our subsequent strategic objectives. We believe that our partnership with LEAFIO AI Retail Solutions seems to be an ideal symbiosis of reliable and like-minded partners,” notes Saruul Sergelen, CEO of MINII.