Combination of Generative AI and Machine
Learning Insights Delivers New Supply Chain Planning Paradigm
Logility, Inc., a leader in prescriptive supply chain planning
solutions, announced it signed a definitive agreement to acquire
Garvis, a visionary SaaS startup that combines large language
models (ChatGPT) with AI-native demand forecasting, earlier this
month. The combined organization will enable a new supply chain
planning paradigm with DemandAI+ that moves beyond conventional
methods to plan demand and inventory at the speed of the
market.
Instead of relying on traditional models, Garvis designed from
the ground up an AI-first forecasting solution now called
DemandAI+. Fusing Generative AI with machine learning algorithms,
DemandAI+ creates a modern, more inclusive, and intuitive planning
paradigm that quickly digitizes supply chain relationships and
exposes that data to any stakeholder across the organization. By
simply asking questions planners, executives, and non-planners
alike get answers to unanticipated queries in real-time, providing
transparency for more informed decisions that saves precious
planning time.
DemandAI+, built for the cloud, will be embedded into the
Logility® Digital Supply Chain Platform as the solution for demand
forecasting. The acquisition, which is expected to be accretive
within 12 months, advances Logility as the only supply chain
planning platform leveraging Generative AI, advanced AI-driven
algorithms, and machine learning. This innovative approach
addresses base demand, promotional lift, causal forecasts, external
data, and user insights within a single solution improving forecast
accuracy and aligning organizations in today’s dynamic market.
“We are at the precipice of a significant transformation in
supply chain planning with advancements in technology, generational
shifts of planners, and the significant speed of market changes and
disruptions,” said Allan Dow, president of Logility. “With an
AI-driven approach at their core, Garvis revolutionized the way
companies forecast demand in very dynamic market. We’re bringing
them into Logility’s portfolio to accelerate our shared vision to
break the boundaries of traditional myopic supply chain planning
solutions.”
Proven over 70 implementations, clients have been translating
buying behavior, market dynamics, and other events into forecasts
across products, locations, and customers. DemandAI+ allows
companies to understand how to react to changes as they happen –
ultimately improving forecast accuracy and service levels, even for
heavily promoted, highly seasonal, or intermittent products.
“Our clients have realized epic results by using AI-driven
algorithms and natural language interfaces to gain insights into
the peaks and troughs of demand and quickly communicate that
knowledge to the rest of the organization,” said Piet Buyck, CEO,
Garvis. “Results have included a 70% savings of weekly planning
time, 15-30% reduction in forecast error and improved inventory
management – all with ridiculously fast implementation times,”
continued Buyck.
Logility clients have the immediate opportunity to leverage the
ability of AI-driven insights for supply chain planning. To learn
more about this opportunity to achieve a rapid return on
investment, visit
https://www.logility.com/logility-acquires-ai-forecasting-pioneer-garvis.
About Logility
Logility’s Digital Supply Chain Platform delivers prescriptive
demand, inventory, manufacturing, and supply plans – helping to
provide executives the confidence and control to increase margins
and service levels, while delivering sustainable supply chains.
Designed for speed and agility, Logility’s (SaaS) cloud-based
platform provides an innovative blend of artificial intelligence
(AI) and predictive analytics to help deliver integrated planning
and operations across the end-to-end supply chain. Our engineered
approach drives team alignment for over 800 customers in 80
countries with prioritized outcomes that assure demonstrable value.
Logility is a wholly-owned subsidiary of American Software, Inc.
(NASDAQ: AMSWA). Learn more at logility.com.
About Garvis
Founded in 2020 in Antwerp, Belgium, Garvis is a revolutionary
SaaS company on a mission to change demand planning by leveraging
artificial intelligence to make forecasting easy, accessible, and
explainable while keeping it in the planners’ control. Using
Generative AI, external data, and AI-driven algorithms, Garvis
challenges the industry to re-think the process, re-start the
design, and re-build the solution all while delivering a rapid ROI.
By translating customer behavior, market dynamics and other events
into digital components and relationships Garvis helps clients in
consumers goods, food and beverage, chemicals, pharmaceuticals, and
other industries better understand and react to changes as they
happen. If you’re interested in a new approach to demand planning,
visit www.garvis.ai.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to substantial risks and uncertainties. References below to
the company means Logility, Inc. There are a number of factors that
could cause actual results or performance to differ materially from
what is anticipated by statements made herein. These factors
include, but are not limited to, continuing U.S. and global
economic uncertainty and the timing and degree of business
recovery; the irregular pattern of the Company’s revenues;
dependence on particular market segments or clients; competitive
pressures; market acceptance of the Company’s products and
services; technological complexity; undetected software errors;
potential product liability or warranty claims; risks associated
with new product development; the challenges and risks associated
with integration of acquired product lines, companies and services;
uncertainty about the viability and effectiveness of strategic
alliances; American Software, Inc.’s ability to satisfy in a timely
manner all Securities and Exchange Commission (SEC) required
filings and the requirements of Section 404 of the Sarbanes-Oxley
Act of 2002 and the rules and regulations adopted under that
Section; as well as a number of other risk factors that could
affect the Company’s future performance. For further information
about risks the Company and American Software could experience as
well as other information, please refer to American Software,
Inc.’s current Form 10-K and other reports and documents
subsequently filed with the SEC. For more information, contact:
Kevin Liu, American Software, Inc., (626) 657-0013 or email
kliu@amsoftware.com.
Logility® is a registered trademark of Logility, Inc. Other
products mentioned in this document are registered, trademarked or
service marked by their respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20230920401357/en/
Heather Coyle Press@Logility.com
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