Amid the COVID-19 pandemic, it has become crucial for logistic companies to learn the art of reacting effectively during unexpected disruptions. On that front, having a clear picture of the inventory has become essential than ever. The pandemic has highlighted the importance of inventory management in logistics in several ways, highlighting unreliable inventory supplies and capacity constraints. Inventory management can alleviate the impact of the pandemic for several industries by helping them manage the demand and recommending how to fulfill it. And the sectors that lacked a sufficient and expansive inventory management system in place have suffered the most in this crisis.
Technological advancements, however, have begun to optimize inventory management by making new levels of accuracy possible. Today, artificial intelligence (AI) can predict what’s being called “near-perfect forecasts” of customer orders, using disparate variables like weather, season, and local events as well. Notably, the application of artificial intelligence (AI) in inventory management is, at present, expanding beyond predictive analysis. AI is aiding warehouse robotics to navigate the warehouse and manage its inventory with surprising efficiency. Another trend that is increasing in importance in the area of inventory management is the omnichannel retail businesses. It is, therefore, essential for retailers and warehouses to develop the inventory management process to keep up with the trend of omnichannel retail.
At this juncture, there are various inventory management solution providers, along with multiple consulting and services companies available in the market that caters to the different needs of the enterprises. To help businesses choose the service, consulting, or solution that best fits their requirement, Logistics Tech Outlook has compiled the list of the top 10 inventory management solution providers and consulting/service companies. The enlisted solution providers and consulting/service companies are the frontrunners in the market that provide a wide span of features. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for the aspiring CIOs.
We present to you Logistics Tech Outlook’s, “Top 10 Inventory Management Consulting/Service Companies – 2020.”