Evrika
Projects objectives include order generation automation, order optimization, purchasing process optimization, transition to centralized inventory management, reduction of overstocks and lost sales, turnover improvement. |
Projects objectives include order generation automation, order optimization, purchasing process optimization, transition to centralized inventory management, reduction of overstocks and lost sales, turnover improvement. |
A consumer electronics retail chain that offers mobile gadgets and household electronics in mini, middle, and superstores across 25 cities.
Locations:
27
Total assortment:
10,000
Years on the market:
22
CONSUMER ELECTRONICS retail chain EVRIKA automates the order and inventory optimization by implementing LEAFIO AI PLATFORM
EVRIKA is a consumer electronics retail chain that offers mobile gadgets and household electronics in 38 mini, middle, and superstores across 25 cities that carry up to 15,000 products.
Before the start, EVRIKA had eight stores with decentralized purchasing. All orders were calculated and generated manually (MS EXCEL) by managers at the locations and the central warehouse. This led to overstocks at certain stores and lost sales in others. Subsequently, redistribution led to extra spending that shrank margin.
Such an approach presumes dependency on the purchasing manager's expertise, including bias, mistakes, and gut feeling instead of factual data, and leads to a higher cost of capital, lower margins, and high operational expenses with a heavy load of routine tasks.
EVRIKA management board decided to make the process more efficient and implement a centralized automated order generation and inventory management system:
EVRIKA chose LEAFIO as a technology and subject matter expert partner.
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Throughout this project, the LEAFIO team, along with the EVRIKA's project team, have centralized purchases, appointed eleven managers responsible for purchases at the CS and stores, created order and delivery schedules, connected the entire range of each store to automated order within four days.
Substitute products process was also set up, solving two issues at once:
Overall, the joint effort resulted in:
As a result, the basis of efficient processes in EVRIKA was laid, which made it possible to expand the business from 8 to 38 stores today.
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