Google Cloud AI Launches New Retail Inventory Solution, Maiven™, For Retailers

  • Editor
  • August 22, 2024
    Updated
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Mojix, a global leader in supply chain visibility solutions, is set to unveil its latest innovation, the Maiven™ AI Visibility Engine, ahead of the National Retail Federation’s 2024 event. This revolutionary product, harnessing the capabilities of Google Cloud AI, represents a significant leap in inventory management, offering businesses unparalleled insights for more efficient and profitable operations.

Developed as an integral part of Mojix’s successful ytem™ retail platform, Maiven™ is designed to address critical inventory challenges in the retail sector. The platform’s Generative AI features and Data Chat applications, built upon advanced tools like Vertex AI, aim to provide natural language interfaces for insightful inventory analysis. By identifying key inventory anomalies such as stockouts, understocking, and overstocking, Maiven™ offers valuable economic KPI insights and prescribes actions for optimized inventory management.

The core strength of Maiven™ lies in its ability to diagnose inventory issues, anticipate potential stock problems, and steer actions towards efficient replenishment and inventory flow harmonization. Its integration of AI insights and actions is tailored to enhance retail operations from various perspectives, enabling quick decision-making for both store-level and supply chain inventory managers.

The innovation of Mojix goes beyond mere inventory management. Leveraging live AI-enabled production feature stores, Maiven™ embeds Generative AI and Data Chat features into the ytem retail platform. These features facilitate seamless integration with existing system capabilities, offering intuitive and accessible natural language conversations for users to interact with inventory data.

Chris Cassidy, CEO of Mojix said, “As we unveil maiven, a cutting-edge generative AI tool designed to revolutionize inventory management for retailers, we are ushering in a new era of efficiency and precision leveraging real-time item-level visibility. Maiven is more than technology; it’s a game-changer for the retail industry, among other verticals. By harnessing the power of generative AI, we empower retailers to navigate the intricate landscape of inventory and asset management with unprecedented insight and foresight. It’s not just about managing stock; it’s about transforming the way businesses operate, enhancing decision-making, and ultimately, delivering an unparalleled client experience. This marks a pivotal moment in our commitment to advancing technology that not only meets but anticipates the needs of our retail partners.”

Coinciding with Mojix’s announcement, Google Cloud has also revealed a suite of new generative AI tools aimed at the retail sector. These tools are designed to enhance the shopping experience, offering artificial intelligence powered services like chatbots for integration into retail websites and apps. This move by Google Cloud underscores the rapidly growing influence of AI in retail, further complementing the advancements brought forth by Mojix’s Maiven™.

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Dave Andre

Editor

Digital marketing enthusiast by day, nature wanderer by dusk. Dave Andre blends two decades of AI and SaaS expertise into impactful strategies for SMEs. His weekends? Lost in books on tech trends and rejuvenating on scenic trails.

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