A nationwide discount retail company struggled to maintain inventory accuracy and manage “shrinkage” across its retail locations. With inventory checks conducted only once a year, a lack of shipment and unique SKU tracking from the distribution center to a given store, and shrinkage due to product damage and theft, they were unable to accurately manage inventory at many individual locations. Having recognized the need to adopt advanced inventory-control, stock-replenishment, and stock-adjustments/shrinkage controls using advanced analytics, they turned to Blueprint for help.
The Blueprint way
Blueprint leveraged Azure Databricks and Power BI to deploy advanced analytics and machine learning with the client’s sales and operations data. In just a few weeks, Blueprint created machine learning models that performed on par with historical models at a predicting perpetual inventory in addition to a very accurate sales-forecasting model. The output enables the client to see a virtual inventory count at any time for any given store, reduce unnecessary spend, and better manage inventory and shrinkage.