By Adrian H. Halili, Reporter
FINLAND’s Relex Solutions said its artificial intelligence (AI) platform holds the potential to improve supply chain efficiencies for food retailers.
“The Philippine retail market… can benefit by increasing margins, reducing waste, and increasing efficiency,” Relex Solutions Philippines Head of Sales Donald Felbaum said in an interview with BusinessWorld.
“One of the core things that we do is we use a lot of AI machine-learning based technologies to automate a lot of repetitive tasks and make more intelligent decisions,” Mr. Felbaum added.
He said retailers can be assisted with demand forecasting, which in turn “helps you figure out how much stock and space you have and how much people actually want.”
Mr. Felbaum said that the proprietary software can also project spoilage in fresh produce, eliminating waste and improving margins.
“What we do is give (businesses) better understanding of demand; looking at things like seasonality, previous sales history, and future external factors,” he added.
“A lot of the buying within the marketplace today is inefficient leading to scarcity,” he said.
Mr. Felbaum said Relex is seeking out new partnerships with retailers to expand its business.
“We’re talking to some of the big players in the Philippines,” he added.
Cebu-based Prince Retail Group has tapped Relex Solutions to automate demand forecasting across its supermarket chain.
“The Philippines has a huge opportunity to offer more value to consumers… with the (country) being archipelagic, supply chains can be more complex,” he said.
“Even without software, better planning can have a positive impact on the environment and to the consumer,” he added.
Relex Solutions specializes in software that assists retailers and consumer goods brands in optimizing operations, including supply chain and space management.