Logility acquires AI forecasting company Garvis

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This article is brought to you by Retail Technology Review: Logility acquires AI forecasting company Garvis.

Logility, Inc., the prescriptive supply chain planning solutions provider, has signed a definitive agreement to acquire Garvis, a visionary SaaS startup that combines large language models (ChatGPT) with AI-native demand forecasting.

The combined organisation 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 digitises supply chain relationships and exposes that data to any stakeholder across the organisation. 

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 revolutionised 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 realised 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 organisation," 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.

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