Baxter Planning releases the general availability of the latest Artificial Intelligence-driven solution, BaxterPredict Prophet.ai.
Prophet.ai is the newest component of their BaxterPredict platform. This module utilizes AI to eliminate the guesswork associated with New Product Introduction (NPI) and Last Time Buy (LTB), allowing for much sharper decisions and better savings on service parts spend.
"Prophet.ai is completely customer driven. Our customers have wanted to solve these problems for decades. The technology is finally available, and we have seen dramatic results with our pilot customers: savings of up to 12% of annual inventory spend while driving increases in service level agreement (SLA) performance in their businesses," says Chad Hawkinson, Baxter Planning's chief product officer.
Key Takeaways:
- Powered by AI and Baxter Planning's unique Service Supply Chain domain expertise, BaxterPredict Prophet.ai allows its users to:
- Predict product lifecycles and spare parts demand decades into the future
- Accurately predict NPI stock levels
- Accurately predict future demand to support more accurate LTB decisions
- Identify excess inventory earlier through improved visibility into future spare parts demand
- Consume excess inventory more effectively through service extensions and part sales
