Electronics retailer Jaycar taps Quantiful for AI-based demand planning

Australian electronics retailer Jaycar is rolling out AI powered demand planning software from Auckland-based Quantiful.

Like many retailers, Jaycar has relied on traditional planning processes using historical data and aggregated store categorisations to forecast demand. 

However, continued growth combined with volatility in demand has meant that process often struggled to deliver the customer experience Jaycar expects while still supporting tight inventory cost management.

Powered by a proprietary AI engine, Quantiful will deliver daily demand plans for all of Jaycar’s stock keeping unit (SKU) locations, allowing the retailer to set minimum and maximum stocking levels across all stores and to maximise sales while optimising the use of working capital.

Quantiful’s AWS-based architecture also enables easy integration into Jaycar’s legacy systems, minimising the time to value and the cost of deployment. 

Jaycar can also focus its skilled people on higher-value activities such as portfolio planning by automating low-value, time-consuming jobs.

Jamie Cormack, founder and chief revenue officer at Quantiful, said, the company’s software was a perfect match to the challenges presented by Jaycar. 

“We provide millions of accurate daily forecasts to automatically set in-store stock levels, minimising lost sales and making more efficient use of working capital,” he said.

Jaycar plans to use Quantiful’s Gen AI engine to help it construct a better view of the new products they should be selling at each of their 135-plus locations by blending sales data with a range of external data sources provided by Quantiful.

With accurate replenishment planning, better mid-term demand and supply balancing combined with insightful portfolio planning, Jaycar is now prepared to navigate the more volatile trading conditions retailers worldwide expect.

Founded in 2015, Quantiful has worked with a range of organisations such as Indonesian protein supplier Indogal, insurer IAG and New Zealand primary producers Fonterra and Silver Fern Farms, among others.

Quantiful is integrated with most of the major ERP and point-of-sale systems.