News provided by
Oct 10, 2024, 07:15 ET
- The QKS Group SPARK Matrix™ provides competitive analysis and ranking of the leading Global Supply Chain Inventory Optimization vendors.
- ToolsGroup with its comprehensive technology and customer experience management, has received strong ratings across the parameters of technology excellence and customer impact.
BOSTON, Oct. 10, 2024 /PRNewswire/ — QKS Group has named ToolsGroup as a technology leader in their 2024 SPARK Matrix™ analysis of Global Supply Chain Inventory Optimization Market.
The QKS Group SPARK Matrix™ evaluates vendors based on technology excellence and customer impact. It offers an in-depth analysis of global market dynamics, major trends, vendor landscapes, and competitive positioning. By providing a competitive analysis and ranking of leading technology vendors, the SPARK Matrix delivers strategic insights that help users assess provider capabilities, differentiate competitively, and understand market positions.
ToolsGroup was chosen as a leader in the 2024 SPARK Matrix for Global Supply Chain Inventory Optimization due to its outstanding capabilities in optimizing cloud costs and enhancing operational efficiency in complex multi-cloud environments.
QKS Group defines a Global Supply Chain Inventory Optimization as “a strategic process of maintaining an ideal amount of inventory and keeping the right balance between capital investment and service-level goals, across multiple Stock Keeping Units (SKUs). The aim is to minimize the inventory holding cost while fulfilling customer demand. Inventory Optimization leverages historical data, advanced analytics, and generative AI to ensure optimum stock levels at the right time. It also takes into consideration the volatility, risks, and probable disruptions in the supply chain and reduces unnecessary costs, stockouts, and overstocking while optimizing stock levels.”
According to Dharun, Analyst at QKS Group, “ToolsGroup has established itself as a technology leader in the global supply chain inventory optimization market by offering AI-driven, self-adaptive demand and inventory models. The solution automatically defines the optimal inventory mix across multi-echelon supply chains, ensuring high service levels while minimizing costs. ToolsGroup’s advanced features, such as probabilistic forecasting, service-driven optimization, and real-time dynamic data unification, empower businesses to navigate demand uncertainty effectively. With the launch of Decision Hub, ToolsGroup introduces decision-centric planning, allowing supply chain leaders to align on optimal responses to emerging threats and changes in supply-demand dynamics.” Dharun further adds, “ToolsGroup’s year-on-year revenue growth, strong enterprise segmentation, a compelling vision & roadmap, industry-specific capabilities, positions the company as a leader in the SPARK Matrix™: Global Supply Chain Inventory Optimization, Q3, 2024”
Quote By ToolsGroup
“We are proud to be recognized by Quadrant Solutions for the third year in a row as a leader in inventory optimization,” said Kevin Young, Chief Marketing Officer and EVP of Growth at ToolsGroup. “Our approach is quite unique in the market. We leverage AI driven probabilistic science to model a range of potential outcomes for demand and supply availability. Over 400 customers leverage our solutions to achieve service level goals while significantly reducing inventory investments, transforming their supply chains into a force for good.”
The global supply chain inventory optimization market is experiencing significant growth, driven by the adoption of cloud, AI, ML, blockchain, and IoT technologies. Inventory optimization aims to maintain an ideal stock level while balancing investment and service-level goals. The use of advanced analytics and generative AI allows for the consideration of volatility, risks, and disruptions, ultimately reducing unnecessary costs and stockouts. Current market dynamics highlight the importance of real-time inventory visibility, predictive analytics, and scenario modeling to enhance decision-making. Leading solutions in this market offer comprehensive capabilities, including multi-echelon inventory optimization (MEIO), automated data collection, and generative AI for informed inventory management. As companies strive for more antifragile and autonomous supply chains, inventory optimization remains a key strategic focus to increase efficiency, profitability, and customer satisfaction.
Additional Resources:
- For more information about ToolsGroup
- SPARK Matrix: Global Supply Chain Inventory Optimization, Q3, 2024
About ToolsGroup:
ToolsGroup’s innovative AI-powered solutions enable retailers, distributors and manufacturers to navigate through supply chain uncertainty. Our retail and supply chain planning suites empower a new level of intelligent decision-making and unlock powerful business improvements in forecast accuracy, service levels and inventory – delighting customers and achieving financial and sustainability KPIs. Stay in touch with ToolsGroup on LinkedIn, Twitter, and YouTube, or visit www.toolsgroup.com.
ToolsGroup Media Contact:
Jason Ouellette
Escalate PR for ToolsGroup
Email: toolsgroup@escalatepr.com
About QKS Group:
QKS Group is a global advisory and consulting firm focused on helping clients achieve business transformation goals with Strategic Business and Growth advisory services. At QKS Group, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.
For more available research, please visit https://qksgroup.com/
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