Logistics optimization firm Logility Inc. has added another acquisition to its stable, announcing today that it has signed an agreement to take over Garvis, a Belgian firm that provides artificial intelligence (AI)-based forecasting tools for demand planning and stock optimization.
Garvis says it fuses machine learning algorithms with large language models (including the generative AI tool ChatGPT) to create a platform called DemandAI+ that quickly digitizes supply chain relationships. Planners, executives, and non-planners alike can then ask simple questions and get answers to unanticipated queries in real-time, providing transparency for more informed decisions that saves precious planning time.
Atlanta-based Logility will now add DemandAI+ to its Logility Digital Supply Chain Platform as the solution for demand forecasting. The company says that will let users translate 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, improving forecast accuracy and service levels, even for heavily promoted, highly seasonal, or intermittent products.
"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," Allan Dow, president of Logility, said in a release. "With an AI-driven approach at their core, Garvis revolutionized 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."
The deal marks the latest acquisition by Logility, which in 2022 acquired Starboard Solutions Corp., a Traverse City, Michigan-based provider of supply chain network design software. In previous years, the company had also acquired supply chain analytics supplier Halo Business Intelligence and the systems integrator AdapChain Inc.