Moscow, December 22, 2022 — Russian business will have an alternative to foreign solutions in the field of integrated planning in logistics. CROC and Novo BI IT companies will help domestic businesses predict consumer demand and plan the production of goods with an accuracy of up to 99%, as well as optimize supply chains.
Thanks to technology, FMCG and DIY companies, as well as distributors, can produce or purchase exactly as many goods as they can sell, minimizing shortages and inventory costs. Now a business working with massive sales structures and supply chains can predict with an average accuracy of 85% to 99% for certain categories of goods (the result is influenced by the quality of data).
The cooperation between CROC and Novo BI, which began at the end of 2022, became part of CROC's strategy to expand the portfolio of partnerships with Russian vendors. Combining with Novo BI expertise in the field of working with Big Data and ML algorithms, CROC will be able to offer businesses an effective domestic solution for digitalization of S&OP processes.
The flagship software product of the Novo BI developer, the Novo Forecast Enterprise system, uses more than 3,000 mathematical models and takes into account more than 100 factors of structural changes in demand (such as promotional events, new products, listings, large one—time deliveries, price changes, etc.), all kinds of trends and seasonality. The solution is also suitable for planning new products and promos without relying on previous sales experience. With the help of artificial intelligence technologies, Novo Forecast Enterprise finds suitable analogues in the assortment and builds a forecast on this basis.
"Digitalization of supply chains increases the competitiveness of business: processes become more adaptive, the speed and quality of decisions increases. The use of digital solutions for forecasting demand and planning in supply chains directly affects the key performance indicators of the company: reduces working capital, increases its turnover, increases profits. The pandemic and the geopolitical crisis are stimulating increased interest in systems of this class. Today, almost every company is reassembling its supply chains anew," says Evgeny Nepeyvoda, CEO of Novo BI.
"In the conditions of economic turbulence, predictive analytics is a tool that gives business a foothold. And the Novo BI solution attracted us as an excellent alternative to Western analogues. The predictive approach is implemented at three levels of the supply chain: the purchase of raw materials, production and sale to the end consumer. At the same time, the product shows high forecast accuracy, is being implemented quickly and, most importantly, is understandable and easy to use for people without highly specialized education," says Nikita Kostenchuk, Head of Logistics at CROC.
CROC has been a digital business partner for hundreds of organizations for more than 30 years. Together with our partners and clients, we are creating a new digital ecosystem of society. Continuous trend analysis, high adaptability and flexibility allow CROC to work effectively in rapidly changing markets.
CROC is a team of IT professionals who integrate the future for their clients on a daily basis.
About Novo BI:
Novo BI (Skolkovo resident) is a Russian developer of the Novo Forecast Enterprise digital system for forecasting demand and organizing integrated planning in supply chains. The Novo Forecast Enterprise system is based on mathematical algorithms and machine learning technologies for calculating the forecast. Digitalization of sales and operations planning helps companies improve the accuracy of demand forecasting, increase the level of logistics service, reduce working capital and increase profits.