Supply chain start-up in the spotlight: Optiwiser AI Solutions

Optiwiser AI Solutions is an independent, international start-up based in Munich, Germany. The company aims to give small and medium-sized enterprises (SMEs) in the food & beverage industry access to AI-powered planning & inventory optimization software – to replace their current reliance on Excel – without requiring them to have a deep understanding of advanced analytics, artificial intelligence (AI) or supply chain management.

Poor demand forecasting causes a big problem for all kinds of suppliers, as the lack of demand accuracy reverberates with increased impact through the supply chain in a bullwhip effect. Due to their lack of scale and lack of technical resources to utilize advanced demand planning software, SMEs tend to suffer more than most when underestimations of demand result in stockouts and delivery failures, leading to the loss of customer trust and loss of revenues.

For SMEs in the food & beverage sector, poor demand planning can additionally result in overstocking, since their products have expiry dates. Besides food waste, overestimating the demand can also lead to increased inventory of items and inefficient use of the production line. With its supply chain cloud solution called Predictwiser.Cloud, the start-up is solving these two fundamental problems in the food & beverage industry with its three current modules: Demand Planning, Inventory Management, and Purchase/Production Recommendations.

StreamWiser

Predictwiser.Cloud runs on Optiwiser’s own self-developed state-of-the-art AI technology called StreamWiser. This streamlines the process of model monitoring and performance tuning, automatically selecting the best models and algorithms for a given prediction and adjusting to changes of scenario in real time. Most existing solutions rely on standard statistical forecasting algorithms based on past data rather than leveraging machine learning techniques, according to the start-up. Therefore, the company claims that its predictions are at least 25% more accurate than the technology currently available on the market. Depending on the settings of the customer’s ERP system, the implementation ofPredictwiser.Cloud can be completed within anything from one hour to one day.

Founded in 2020 and currently with five employees, Optiwiser AI Solutions’ five-year ambition is to become the leading provider of supply chain solutions for SMEs.