Ikigai Labs has launched of its Demand Forecasting and Planning solution. By leveraging Ikigai’s Large Graphical Model (LGM) technology, the solution delivers actionable insights that can help businesses reduce inventory costs, prevent stockouts, and respond dynamically to market changes.
Ikigai’s Demand Forecasting and Planning solution enables businesses to: predict demand with confidence, even for new products or scenarios with no historical data; align forecasts across complex product hierarchies (e.g., regions, channels, SKUs) for end-to-end accuracy; and simulate demand variability with dynamic “what-if” scenarios tailored to real-world factors, both internal and external, like pricing, promotions and seasonality.
The Ikigai solution combines AI techniques to address forecasting challenges:
• Time2Vec Technology: Captures hidden patterns across large datasets, uncovering trends traditional methods miss.
• Data Reconciliation: Creates synthetic data for products with limited or no historical demand, such as new product launches.
• Expert-in-the-Loop (XITL): Blends human expertise with AI insights, enabling domain experts to refine forecasts for greater precision.
• External Data Integration: Incorporates real-time inputs like weather, social sentiment, and events to adjust forecasts dynamically.
• Anomaly Detection: Identifies outliers and change points in demand, providing greater explainability that allows businesses to act proactively.