Supply chains globally continue to grapple with shortages and confusion around lead times, inventory, and much more. What’s more, supply chain executives are having to sift through mass amounts of data to get insight, which then can drive decision making. Enter Kiran and Dr. Agarwal’s, who are utilizing generative AI and actionable insights to optimize their inventory and unify their tech stack.
Meet Kiran and Dr. Agarwal’s
Kiran is the Vice President of Supply Chain & Operations at Dr. Agarwal’s, with a firsthand look at how the company is utilizing different technologies to shore up supply chain challenges. With inventories of thousands of SKUs globally, staying on top of inventory has proven a challenge. Particularly for eyeglasses, it is especially difficult to determine how much inventory to carry at each location, since consumer desires vary greatly by location greatly – eye size, colors, nose shape, frame size, and more.
Kiran and Dr. Agarwal’s were looking for a BI software that not only could compile their data from multiple disparate sources, but also help them to skip the laborious process of creating dashboards from that data. With the added factors of expiring products through their pharmacies, Dr. Agarwal’s constantly changing supply chains made it necessary to instantly and proactively receive insights from their data that recommends action steps and drives progress.
After implementing AI, the team at Dr. Agarwal’s began to see drastic changes in how they responded to challenges with AI. One of the challenges Dr. Agarwal’s faced was “how do we reduce inventory?” With AI, Kiran can now look at the fast moving products in their inventories, and shrink the overall cycle of procurement for monthly and weekly requirements.
For seasonal trends, Kiran and his team can access seasonal data and compare it with macro trends to further optimize inventory when the time is right. Whatever is not selling can be quickly moved to another location for higher ROI.
Going forward, AI will be crucial in Kiran’s role as he optimizes inventory globally, and gets the proactive insights he needs to make data-driven decisions.
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“In the past, whether it is through Excel or Power BI or one of these analytics tools, it gives you the standard output – and with the amount of data we are collecting, you can keep looking at 40, 50 reports on a weekly basis or even monthly basis. You want something that makes sense for you.”Kiran Narayan