Noodle Notes: AI for CPG
This week we’re prepping for our first monthly newsletter, so this Noodle Notes will be a brief look at how AI is impacting CPG (from customer facing AI like bots to operational AI).
Our first article comes from TechCrunch and talks about the value of agile microbrands. We’re positive everyone reading this has been tempted by a highly targeted ad on Instagram or tried out a meal kit, shave product subscription, pet product box, or similar. Heck, I even tried letting a subscription company dress me.
What does this have to do with AI and CPG? These brands are able to be agile and personal because they approach their supply chains and delivery systems with fresh eyes (and fresh analytics). By incorporating predictive AI into the supply chain, pricing, and demand prediction engine, even legacy brands can more agilely compete with these fast-moving new startups via efficiency improvements, product improvements, and waste reduction.
The holidays are coming, and in true retail fashion companies are already skipping several excellent holidays to talk about Christmas as early as possible. Amazon is no exception. They excel at applying machine learning to their pricing, demand prediction, and supply chain, and they are bringing that knowledge to the holiday season by delivering live Christmas trees.
When most people think of AI and retail they usually think of two things: bots, and how many retail stores are closing (which often gets blamed on various technologies). When we work with CPG brands, however, we’re digging deep behind the scenes, working to eliminate issues deep within the supply chain and manufacturing, reducing time to detect and fix defects, predicting potential overproduction, eliminating wait times, leveraging underutilized talent by augmenting human experience with AI, improving logistics, generating efficiency in inventory management, and more. Both types of AI have their merits, but we’re particularly excited about how predictive machine learning and deep probabilistic AI can help organizations.
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