Short description: Variable demand causes overproduction. AI based demand planning solution would reduce utilization rate of unsold products, packaging and raw materials, energy costs. The problem is increasing due to international expansion, so new data-driven tools are necessary for resource-efficient production.
Market potential: There are ~5000 SME’s in the cosmetics manufacturing industry in Europe, which would increase their competitiveness using the solution. Potential for adaptation for omni-channel distribution network.
Timing: The solution is needed as soon as possible. The challenge owner is ready to proceed immediately when the project is approved.
Desired result: Market (channel) based AI driven demand forecasting model is created and integrated into company’s IT infrastructure. Demand planning accuracy increased, overproduction reduced by 50%.
Information on challenge owner: Small SME (10-49 staff).
Market presence of challenge owner: Active in several countries.
Keywords: Artificial intelligence (AI); Chemical / Cosmetics; Smart manufacturing Packaging; Demand planning
