Predictsys Inc. is harnessing Artificial Intelligence (AI) to predict fashion trends and convert these predictions into actionable buying and inventory management recommendations that not only help fashion companies match supply with demand but also address the fashion industry’s global waste problem.
The fashion industry is the second largest polluter in the world, just after the oil industry and each year, $210 billion worth of goods are either never sold or sold at less than the cost of production. This oversupply is partly due to supply demand mismatch driven by inaccurate forecasts and manual buying, and inventory management processes that Predictsys intends to make a thing of the past.
Traditional fashion buying/ordering is driven by planners and buyers using historical data to determine which styles to buy/make and how much to buy/make. This leads to low accuracy and oversupply. Predictsys Inc. however, uses Advanced Technologies such as AI, big data and customer sentiment analysis to improve fashion forecasting and generate SKU level forecasts with over 90% accuracy. Predictsys Inc. also uses AI to automatically convert these forecasts into actionable planning, buying and inventory management recommendations.
“The fashion industry is under pressure to reduce its environmental impact while also increasing profitability,” said Abhinav Chandra, Founder and CEO of Predictsys Inc. “Our platform allows them to achieve both. We don’t simply give clients data which leads to analysis-paralysis but use the data to generate insights and recommendations which clients can directly act on. Our platform not only has the potential to change the future of the fashion industry but also the future of our planet.”
Using data from over 100 sources that influence future fashion trends, Predictsys Inc. generates automated, specific, and actionable recommendations for buying and inventory management that improves profitability and customer experience. The platform is easy to use, saves time for planners, buyers and inventory managers while at the same time reduces waste and the negative impact on the environment.
For more information visit predictsysinc.com
About Predictsys Inc.
Building customer centric, flexible, and scalable solutions that increase automation in fashion supply chain. Predictsys Inc.’s proprietary technology and data help generate forecasts and recommendations with high accuracy. Their AI/ML based prediction models are customized for different product categories and specific retailers with data drawn from over 100 diverse sources that are updated in real time. The Predictsys Inc. team has deep expertise at the intersection of fashion, technology, and data science