Description
Companies in manufacturing and trade area are in constant seek of effective supply chain management solutions to overcome the challenges in process optimization, demand and supply forecasting. Today, the market doesn’t offer a solution that collects and links information into inventory management processes and optimizes company’s decision process. The project idea is to develop a Smart Ordering System for Retailers which gives advice for ordering decisions by using different data sources and statistical analysis for forecasting. System would also provide feedback about ordering decisions by comparing amounts sold and ordered, and it is self-learning within the process. Small grant scheme project activities concentrate on market situation, competitive environment analysis, product specification and business model compilation, also on partner search.
Summary of project results
Project was needed to develop a Smart Ordering System for Retailers which gives advice for ordering decisions by using different data sources and statistical analysis for forecasting. The results are sustained through long-term cooperation between the project promoters after the end of the project activities. The objective of this small grant scheme project was to study the market situation, conduct the competitive environment analysis, product specification and business model, also to search for partners. Project promoter has conducted all aforementioned analyses, presented the results in the final report, hence the objective can be considered reached. As the outcome of the project, the business idea of the smart ordering system has been fully assessed and the planned solution is ready for further developments. Project promoter has participated in the open (main) call competition with its Estonian and Norwegian partners.
Summary of bilateral results