Logile provides AI/ML-driven software solutions for retailers. [Image courtesy Logile]
Logile, a Southlake-based retail workforce planning, workforce management, inventory management, and store execution provider, announced a new free predictive pilot program is now available to all retailers.
According to the company, retailers can sign up to use what they call the industry’s most powerful and accurate AI- and ML-driven metric predictions through a fully automated self-service platform.
Purna Mishra, Founder, President and CEO of Logile said: [Photo: Logile]
“The ability to accurately forecast demand and labor requirements will help retailers navigate economic and market volatility and manage labor costs,” Logile founder and CEO Puna Mishra said in a statement. is more important than ever in maintaining service levels: “Today, we are leveraging the power of the Logile prediction platform as the most accurate and intelligent prediction platform available in the industry, with complete privacy, access control and security. We want you to experience it accurately with our own data.”
Mishra said the company offers a free forecasting pilot program for free, with no obligations.
“We are confident that retailers will be intrigued and delighted when comparing automated prediction results to actual and traditional predictions,” Mishra said. “Our mission is to help retailers succeed with the best tools available and this pilot should provide a window into what is possible. We are introducing a number of additional features that will make the game even more precise.”
Accurate forecasting of scheduling and inventory
The company says highly accurate forecasts are critical to retail decision-making and operational efficiency in today’s uncertain and ever-changing environment.
Designed to provide an easy, fast, and low-risk way to sample the power of Logile’s forecasting platform, pilot participants chose 8 weeks of daily forecasts for up to 100 locations and 10 metrics can. Logile said results will be made available to participants within seven days of him submitting parameters and historical data.
Logile added that in past competitive evaluations, its projections have outpaced the competition.
Logile claims to use the latest AI and machine learning-based algorithms to generate forecasts with an average daily accuracy of over 97% at the individual metric level. The company says this is the best in the industry.
In workforce management, every 1% improvement in accuracy translates into up to 50% less overtime, 0.5% less labor costs, 6% better conversion rates, and 12% better customer satisfaction. As for orders, accurate forecasts ensure inventory at the right time, avoiding unnecessary overstock or worse, out-of-stock situations.
global retail technology
Users said they believed the free offer could benefit other companies.
said Steve Netherton, VP and CIO of Continuous Improvement, Vallarta Supermarkets. “Vallarta uses Logile Forecasting to provide highly accurate forecasts and real-time re-forecasts to drive optimal labor planning, scheduling, task management, and customer service delivery. The learning capabilities are industry-leading.”
Founded in 2005, Logile provides software deployed in thousands of retail stores in North America, Europe, Asia, Australia and Oceania. The company’s AI, machine learning technology, and industrial engineering will increase ROI and enable better operations with improved performance and empowered employees.
Recently closed a Series A investment
In January, Logile announced the completion of a Series A investment from Sixth Street Growth, the growth investment business of leading global investment firm Sixth Street. The new partnership with Sixth Street is aimed at accelerating the company’s market and vertical expansion, growing the team and furthering the development and enhancement of its clients’ solutions, the company said. .
Last year we talked about how Logile launched a new “Gig-Style Scheduling” feature in their Employee Scheduling solution. It is called “the only task-based and most accurate labor demand-based scheduling system on the market”.
As always, we have an app for that. The solution is on Logile’s Employee Self-Service Connect mobile app.
According to the company, Gig-Style Scheduling will allow retailers to more fully utilize their workforce in two key ways. This means placing “gig status associates” on the company’s staff and supplementing with labor from outside “crowdsourcing” to cover additional staffing needs.
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