AI for the Service Supply Chain
Thursday, April 18, 2024
AUSTIN, Texas, April 9, 2024 /PRNewswire/ -- Baxter Planning, the leading provider of Service Supply Chain technology, today announced the general availability of our 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," stated Chad Hawkinson, Baxter Planning's Chief Product Officer.
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
"This technology could be a real game changer for us. I can see how it will help us make much better Last Time Buy decisions. I jokingly said Baxter should get a Nobel Prize in Supply Chain for this work," stated a Baxter Planning Prophet.ai pilot customer.
The Baxter Planning team has been dedicated to partnering with its Service Supply Chain customers and has found real value and opportunity with this application of AI into its products. The company plans to invest further in AI for a variety of use cases to truly optimize Service Supply Chains.
Learn more at baxterplanning.com.
About Baxter Planning
Founded in 1993, Baxter Planning is the world leader in Service Supply Chain technology. Global customers with even the most complex service operations trust our team to help them set the spare parts plan, manage the order execution, and streamline escalation management.
BaxterPredict, their end-to-end predictive platform, transforms Service Supply Chains using best practices, AI/ML, and domain expertise to drive cost reduction, increase resiliency, refine optimization, and enable end-to-end visibility control. Baxter Planning customers see reduced spend in inventory, logistics, and operations while increasing their customer satisfaction. Customers using Baxter Planning's software manage more than $11 billion in inventory across 35,000 locations in more than 120 countries.
Baxter Planning is a portfolio company of Polaris Partners, a private investment firm with offices in Boston, San Francisco, and New York. To learn more about Polaris, visit https://www.polarispartners.com/.
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SOURCE Baxter Planning
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