(MENAFN- EIN Presswire)
VIADA Baltija chooses LEAFIO AI to streamline the supply chain processes of its gas station stores in Latvia
LEAFIO platform optimizes costs by establishing 'healthy' standardized supply chain processes and free up funds to grow businesses. We look forward to working closely with VIADA to achieve these goals” - Alex Medwin, CEO of LEAFIO Inc, DELAWARE, USA, November 1, 2023 /EINPresswire / -- VIADA Baltija, one of the leading gas station operators in the Baltic States, chooses LEAFIO AI Retail Solutions to implement an innovative platform for optimizing inventory management and merchandising processes in the petrol station chain in Latvia.
The LEAFIO AI Retail Platform helps retailers increase operational efficiency and profitability using advanced planning, optimization, and analytics tools for improved demand forecasting , replenishment automation , better assortment performance , effective promotions and planograms.
Managing a chain of 101 petrol stations in Latvia, the VIADA Baltija leadership team decided to automate and unify replenishment and planogram management processes in their convenience stores, which would further enable efficient business growth.
With such a wide chain, decentralized inventory management, where gas station managers create individual orders for their locations, can lead to planning errors, overstock, write-offs, or lost sales. There was also a critical question of standardizing the approach to merchandising, analyzing the effectiveness of planograms, and introducing unified methods to monitor their compliance.
As the business evolved, VIADA's managers needed more in-depth KPIs analysis to make informed operational and strategic decisions: inventory levels, lost sales, product availability, and sales. It was also important to find a tool that would eliminate manual calculations and daily immersion into multiple reports.
“We are thrilled to embark on a partnership with LEAFIO AI Retail Solutions,” said Arunas Satkus, CEO of VIADA Baltija.“As a company that strives for improvement and development, we constantly seek innovative solutions to optimize our operations. LEAFIO's wealth of experience with other gas station chains and advanced technology align perfectly with our goals, and we are confident that this partnership will lead to significant performance improvements in our retail stores.”
The LEAFIO AI RETAIL PLATFORM is a cloud solution based on advanced artificial intelligence algorithms, featuring a user-friendly interface and a high degree of customization and automation of retail processes. By implementing the LEAFIO platform, VIADA's team will achieve the following results:
- Streamline stock replenishment by fully automating the process, considering seasonal variations and promotional campaigns;
- Mitigate the risk of excess inventory and write-offs through the implementation of an“empty warehouse” mode, thereby enhancing availability and service levels;
- Access over 40 customized analytical reports that provide a comprehensive overview of inventory status, enabling better visibility over the chain;
- Automate the creation of planograms, including standardized ones tailored to specific formats;
- Monitor the effectiveness of product displays in real-time and easily rotate the product assortment throughout the entire chain with minimal effort;
- Facilitate planogram modifications and ensure execution through a dedicated mobile application for gas station employees.
“We are excited to partner with VIADA Baltija and support them on their journey to transform their retail business technologically,” said Alex Medwin, CEO of LEAFIO Inc.“Our platform is designed to help retailers optimize costs by establishing 'healthy' standardized supply chain processes and free up funds to grow their businesses and provide better customer service. We look forward to working closely with VIADA to achieve these goals.”
ABOUT VIADA BALTIJA:
VIADA Baltija is one of the leading providers of petroleum products in Latvia, overseeing an extensive network of gas stations under the VIADA brand. Renowned for its commitment to exceptional service and top-notch products, VIADA has established itself as a trusted name among consumers and is a significant industry player. Currently, the operator manages a network of 101 fuel retail stations throughout Latvia, offering broad regional coverage.
ABOUT LEAFIO:
LEAFIO AI Retail Solutions offers robust and adaptable automation solutions to retailers, distributors, and CPG manufacturers. With a wide-reaching customer base of more than 170 retail companies spanning more than 20 countries worldwide, LEAFIO equips them to maintain a competitive edge, enhance their ability to withstand disruptions, and achieve increased revenue with improved profit margins. LEAFIO specializes in developing AI-powered software tailored to streamline retail operations, encompassing supply chain management, inventory optimization, merchandising, assortment performance, and sales promotion forecasting and execution.
Megan Ballard
LEAFIO AI Retail Solutions
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