Case Study: AI x RPA for Automated Inventory Management: Improve Demand Forecasting for Pharmaceutical Products by 23%
The client is among the largest Japanese research and consulting firms, providing solutions such as inventory, distribution, and ordering systems for several Japanese pharmaceutical companies and pharmacies. The company strives to help the sector improve inventory management with enhanced demand forecasting and has turned to FPT Software to build an AI-powered solution for predicting medicine prescription volume. The output of the AI prediction was then fed to RPA robots to be imported into the medicine inventory systems, allowing for automated inventory management and improved cost efficiency. With the solution, the company managed to improve the demand forecasting accuracy rate to a whopping 98%, an increase of 23% compared to the pre-tech solution. The new system also helps users maximize sales and streamline operations by minimizing the stockout rate to 4% and reducing the value of unsold inventory by 8%.