In this video, Miral Gandhi, Ikigai Analytics Strategist, shows a demo of aiPlan, Ikigai's planning solution that uses Reinforcement Learning to drive optimal outcomes. Achieve your business goals by leveraging Ikigai’s patented aiPlan, powered by reinforcement learning AI, that compares up to 10 to the power of 19 possible scenarios and recommends the most optimal ones. Learn More: https://www.ikigailabs.io/reinforcement-learning
Watch VideoHello and welcome to the final module and demo of our aiPlanning tool. Ikigai is an end-to-end AI data powered platform and what this means is that we're able to cover all steps of data work from the ingestion and preparation side of things all the way to the taking actions part and the visualization part as well and we're able to do this with the ease of spreadsheets and it's completely cloud-based. we are also Tech based out of MIT and that's where our co-founders are from.
So without any further ado we're going to go to aiPlanning right here and this is the third step in the process so after aiCast and aiMatch and you can utilize the forecasting from Ikigai for the inventory planning. The beauty of it is being able to have this in the same system. You don't need to download or upload any further information – it's already plugged in, so all the data is already here so no need to take any extra steps and pull data from other places. aiPlan utilizes reinforcement learning which is a type of machine learning and it helps you optimize your inventory levels. As an example, if you over order your cash gets tied up in inventory that might never sell and you lose money on having surplus inventory, the cost of production and shipping, the cost of carrying it, the cost of associated with disposing the surplus, then finally, the opportunity cost of that shelf space in your store. So if you underorder, you risk having a stockout which means you're losing revenue and potentially losing this customer and their future purchases which is the lifetime value of that customer. aiPlan is able to analyze up to 10 to the power of 19 scenarios and gives you Scatter Plots of the best ones, so you can see these are all the different options and simulations that we've run. Depending on the policy that you prefer you can select the one that works best for you. So you can see if I were to select this plot right here, you can see that the revenue added from aiPlan is here and you can see that the inventory saved is right here. If you want to prioritize a different policy, say for example, you don't want to have as many stockouts, you can choose an optimal point on the plot here, so some companies like to be in an overstock position because they don't want to run out some people like to run more lean and be in a more lean stock position so it really depends on what policies that you and your organization prefer but we give you all the options here and you can pick accordingly.
To further add some more robustness to this simulation you can add further constraints if you'd like and this will make it even more robust. Ikigai is the only platform that offers this out of the box and the only other alternative is to hire data scientists which you know some companies would prefer to do but at the same time if you prefer to keep it lean and in-house, then Ikigai is a great option because the time to value is very quick, three to four weeks, and when bringing in a new data scientist or maybe building something that's more custom it could take months. So, there's really no other alternative to Ikigai besides those and because this is an all-in-one platform you can generate and send purchase orders right from Ikigai because it seamlessly integrates with your ERP. You can see right here if you sent to the ERP you can do that and then in addition to that you can actually generate POS right from here as well so the beauty of this is there's no reason for any communication lag or miscommunication between decision-makers and those who actually put in this information into the operations. The end-to-end platform enables this.
In this video, Miral Gandhi, Ikigai Analytics Strategist, shows a demo of aiPlan, Ikigai's planning solution that uses Reinforcement Learning to drive optimal outcomes. Achieve your business goals by leveraging Ikigai’s patented aiPlan, powered by reinforcement learning AI, that compares up to 10 to the power of 19 possible scenarios and recommends the most optimal ones. Learn More: https://www.ikigailabs.io/reinforcement-learning
Hello and welcome to the final module and demo of our aiPlanning tool. Ikigai is an end-to-end AI data powered platform and what this means is that we're able to cover all steps of data work from the ingestion and preparation side of things all the way to the taking actions part and the visualization part as well and we're able to do this with the ease of spreadsheets and it's completely cloud-based. we are also Tech based out of MIT and that's where our co-founders are from.
So without any further ado we're going to go to aiPlanning right here and this is the third step in the process so after aiCast and aiMatch and you can utilize the forecasting from Ikigai for the inventory planning. The beauty of it is being able to have this in the same system. You don't need to download or upload any further information – it's already plugged in, so all the data is already here so no need to take any extra steps and pull data from other places. aiPlan utilizes reinforcement learning which is a type of machine learning and it helps you optimize your inventory levels. As an example, if you over order your cash gets tied up in inventory that might never sell and you lose money on having surplus inventory, the cost of production and shipping, the cost of carrying it, the cost of associated with disposing the surplus, then finally, the opportunity cost of that shelf space in your store. So if you underorder, you risk having a stockout which means you're losing revenue and potentially losing this customer and their future purchases which is the lifetime value of that customer. aiPlan is able to analyze up to 10 to the power of 19 scenarios and gives you Scatter Plots of the best ones, so you can see these are all the different options and simulations that we've run. Depending on the policy that you prefer you can select the one that works best for you. So you can see if I were to select this plot right here, you can see that the revenue added from aiPlan is here and you can see that the inventory saved is right here. If you want to prioritize a different policy, say for example, you don't want to have as many stockouts, you can choose an optimal point on the plot here, so some companies like to be in an overstock position because they don't want to run out some people like to run more lean and be in a more lean stock position so it really depends on what policies that you and your organization prefer but we give you all the options here and you can pick accordingly.
To further add some more robustness to this simulation you can add further constraints if you'd like and this will make it even more robust. Ikigai is the only platform that offers this out of the box and the only other alternative is to hire data scientists which you know some companies would prefer to do but at the same time if you prefer to keep it lean and in-house, then Ikigai is a great option because the time to value is very quick, three to four weeks, and when bringing in a new data scientist or maybe building something that's more custom it could take months. So, there's really no other alternative to Ikigai besides those and because this is an all-in-one platform you can generate and send purchase orders right from Ikigai because it seamlessly integrates with your ERP. You can see right here if you sent to the ERP you can do that and then in addition to that you can actually generate POS right from here as well so the beauty of this is there's no reason for any communication lag or miscommunication between decision-makers and those who actually put in this information into the operations. The end-to-end platform enables this.
