Chemist Warehouse is piloting an artificial intelligence solution, Insite AI, to support its buying and planning decision-making in specific product categories: vitamins and non-prescription medicines.
Insite AI, a Kiwi startup, is a machine learning-powered platform that uses a company’s internal data, as well as external factors, to optimise supply chain operations.
The system aims to help large retailers make smarter buying decisions, rather than using outdated stock management systems.
“Since we started, Chemist Warehouse has strived to remain at the forefront of innovation,” Chemist Warehouse group commercial manager Damien Gance said.
“Artificial intelligence is one such innovation that is quickly becoming a crucial ingredient in anticipating customer needs.”
A Chemist Warehouse spokesperson said that, from a buying perspective, the technology will help with the three Rs of retail: the right product, at the right place and the right price.
The retailer is piloting the system across 450 of its stores.
This article first appeared in Inside Retail, a sibling publication to Inside Franchise Business.
