Challenges

Extract Production was experiencing multiple supply chain challenges, including substantial growth, environmental regulations, and an ultra competitive market. Increased domestic demand, combined with commodity availability and price Increases created the need for a fine balance with a rapid response necessary for managing on-time delivery, cash flows, and inventory.

With a focus on providing top of the line service to customers with the best reliability and responsiveness in their industry, the customer was searching for a solution provider that could deliver market activity around specific customers. With the addition of ConverSight, decision makers gain visibility into a centralized data repository to accurately plan inventory and forecast for the future with AI-driven precision.

Solution

ConverSight jumped in to connect distributed data and processes to revolutionize operations across sales, supply chain and finance departments through the power of conversational AI. With the help of ConverSight’s AI assistant, Athena, users of all roles and departments opened a direct dialogue to the metrics that matter most to uncover hidden insights and streamline tasks and reporting.

Optimized parts and product performance drill down – With ConverSight, the customer gained a refined view of customer activity in the marketplace, narrowed down to the parts, products and revenue associated with each customer for accurate inventory planning.

Re-aligned sales strategy – Detailed visibility into sales activity has empowered sales teams with access to real-time customer performance reports, profit margin impacts, and profitable product reports including the launch of a new stock shelf program.

Improved cash flow and cost savings – Reduction of slow-moving inventory from warehouses in addition to improved margin visibility with AI-driven recommendations.

Impact

Too often we are stuck sifting through data and other insufficient analytics platforms. ConverSight connected with existing data systems, immediately delivering a clear picture into true consumer demand while maintaining the right level of inventory, at the right place and time.

Since the initial deployment, the customer has gained:

• Smart Forecasting: Produced key metrics and proactive insights on inventory for reduced inventory costs
• Improved Order Management: ConverSight automatically analyzed sales orders, master data, and transactional data to offer proactive recommendations for placing purchase orders, along with due dates for optimal completion.
• On-time customer delivery: In-depth analytics and proactive Insights allowed for Instant visibility Into potential supply disruptions, keeping deliveries on time.

With the adoption of ConverSight, distributed teams were able to align, enabling cross functional empowerment, visibility & collaboration.

For more information about how ConverSight can slash inventory costs and reduce stockouts, request a demo today.