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AI inventory management solutions use artificial intelligence and machine learning with supporting technologies like robotics and IoT to automate inventory-related processes. This reduces reliance on manual operations and ensures a consistent, data-driven approach to warehousing, fulfillment, and retail operations.
The right AI tools should be able to bring about material improvements to key aspects of inventory management. Here are a few of the specific benefits companies typically realize:
While every business will have unique, individual requirements for its inventory management solution, some key features will add value to any platform. Here are the essentials you should be looking out for:
1. Oracle Inventory Management
Oracle’s inventory management solution is part of its Fusion Cloud ERP platform. While some companies may find it daunting to make the leap to Oracle and take on the initial learning curve, this solution offers powerful features for real-time visibility, maintaining agility in response to consumer demand, and automating critical tasks like stock replenishment.
Key Features: Cloud-based, real-time tracking, automated replenishment, and integration with ERP.
Best for: Integrating a robust inventory platform into an existing Oracle ecosystem.
Price: By inquiry.
Review: “It is a good ERP to automate your business process and control your inventory, but it is tough to use.”
Designed for omnichannel grocery stores, this AI-powered robotic system can transform even a small warehouse space into an automated fulfillment center. Finally’s modular, scalable robots deliver goods directly to picking stations, reducing labor costs and providing a better in-store experience for customers. The system also includes real-time inventory tracking and data analytics to reduce shrinkage and improve order accuracy.
Key Features: Modular design, real-time inventory management, scalable for various warehouse sizes, improved order accuracy.
Best for: Stores that need a flexible, cost-effective automation solution that can adapt to their existing flat-floor warehouse.
Price: By inquiry.
Review: “Being able to run such a powerful site with only 3 junior associates, and see operating margins as high as 10-15%, are almost unbelievable achievements. This Store Fulfillment Center is the power behind our massive growth.”
3. SAP Inventory Manager
Another trusted name in business software, SAP provides inventory management tools and supply chain management solutions. These tools present various options for automating and optimizing a wide range of warehousing and fulfillment scenarios and use machine learning to develop maximally efficient slotting rules.
Key Features: Machine learning, integration with SAP’s wider supply chain suite, efficient slotting rules.
Best for: Managing stock and logistics to a high level of granular detail.
Price: By inquiry.
Review: “This program is very detailed. Most people just scratch the surface in its capabilities.”
4. Microsoft Dynamics 365 Supply Chain Management
This solution is powered by Copilot, Microsoft’s AI assistant, which assists with forecasting, planning, and dealing with unexpected disruptions. Dynamics 365 comes with training resources and configuration wizards that make it easy to set up and run.
Key Features: Copilot AI assistant, forecasting, planning, and integration with Microsoft products.
Best for: A solid combination of user-friendliness and diverse features at a reasonable price.
Price: $210 per user/month for the basic plan, $300 per user/month for the additional AI capabilities of Premium.
Review: “There's very little feeling of legacy and closed proprietary design. Instead, it feels designed to adapt.”
5. Manhattan Active
With RFID-based tracking for store inventory and a host of features for omnichannel retail operations, Manhattan Active’s solution delivers better customer experiences by optimizing your inventory and fulfillment processes. Support for curbside delivery and other flexible options is included.
Key Features: RFID-based inventory tracking, omnichannel retail support, curbside delivery integration.
Best for: Managing multi-channel retail inventory.
Price: By inquiry.
Review: “Productivity tracking is very helpful in judging pickers and shippers.”
6. GreyOrange
GreyOrange is a warehousing automation platform based on AI and robotics. It’s facing the challenges of the current era of commerce head-on with solutions designed to accommodate omnichannel fulfillment, dark stores, product returns, and a host of specialized retail industries.
Key Features: Robotics integration, multi-channel fulfillment, AI-driven warehouse optimization.
Best for: Setting up a robotics-driven warehouse.
Price: By inquiry.
Review: “In terms of picked order lines per hour, we are close to doubling that compared to the manual process that we are running beside the pilot.”
7. Blue Yonder
Blue Yonder leverages AI and machine learning to deliver cost-saving improvements to your inventory management processes quickly. This platform segments your products, channels, and markets in order to dynamically allocate inventory and optimize for both ROI and the customer experience.
Key Features: AI and machine learning integration, real-time inventory tracking, dynamic allocation.
Best for: Finding optimization potential at every point in your supply chain.
Price: By inquiry.
Review: “It integrates well with existing systems and allows for robust functionality ranging from custom parameter setting and scenario planning.”
By streamlining your inventory management processes and helping you make more informed decisions, AI tools can be a cost-effective way to minimize inefficiencies and provide the best possible fulfillment experiences. The impact they’re having on warehousing and inventory management promises to be transformative, and adopting AI-driven solutions that address your specific business needs can be a great way to stay competitive in today’s rapidly evolving marketplace.
For omnichannel grocers and similar retailers who need AI tools that can integrate with existing warehouse infrastructure, Finally offers a robotics solution that can start in your current space and scale along with your enterprise as it grows.
Get in touch with us to find out more about how Finally can transform your warehouse into a smart robotic fulfillment center.