Algonomy, the leader in algorithmic commodity analysis, today announced that wonderchefIndia’s leading manufacturer of cookware and kitchen appliances implements Algonomy’s technology platform to improve sales, inventory turnover and better anticipate customer needs in changing market dynamics, thereby improving profitability.
Wonderchef currently serves more than 30 million satisfied customers across its 18 branded outlets, 10,000 outlets, all modern business partners, and all major e-commerce platforms.
Wonderchef will take advantage Algonomy Commodity Analysis tool to unify its data and promote information-based decision-making. It will also help Wonderchef leverage the benefits of an integrated platform that will provide a holistic and analytical view of sales, inventory, purchasing, assortment, pricing, promotions, and operations. Machine learning (ML) based algorithms will enable smarter and faster decision making in demand planning, inventory management and price discount optimization with mathematical precision.
Algonomy’s algorithm takes into account a range of diverse elements such as holidays, seasonal and scheduled promotions, product attributes and geography to provide detailed and actionable insights. Predictive forecasts powered by artificial intelligence (AI) will generate prescriptive recommendations, such as transfers between stores to negate potential out-of-stock scenarios. At the same time, Wonderchef will now be able to act and take advantage of analytics-based opportunities that would otherwise have been classified as lost sales due to amorphous inventory management.
Algonomy’s platform will also enable intelligent collaboration with suppliers. Wonderchef will be able to increase supplier performance by leveraging business partner supply chain visibility through automations that power onboarding, order-to-cash, and supplier-funded promotions and discounts.
“Partnering with Algonomy allows us to equip our team with the right information to anticipate our clients’ needs and deliver meaningful solutions in a timely and personalized manner,” said Ravi Saxena, Founder and Managing Director of Wonderchef. “Algonomy is a leading enterprise solutions provider with a good pedigree and experience. Their success with partnerships in similar industries demonstrates a deep knowledge and understanding of the process. They also offer a wide range of solutions and products necessary for business intelligence, which helps us in our decision-making process.
“The Algonomy team was collaborative and open to new ideas and suggestions throughout the initial phase of this project. They have also been very flexible in their approach which will help us achieve our desired goals,” added delighted.
“We are thrilled to be part of Wonderchef’s incredible growth journey and to work alongside their team to deploy powerful and relevant data-driven experiences for their team and their customers,” said Amit Agarwal, SVP – Business Development (APAC and MEA) at Algonomy. “We will leverage our retail expertise to help Wonderchef effectively analyze and process structured and unstructured data in real time to uncover granular insights to help them optimize costs and grow.”
Algonomy (formerly Manthan) empowers leading brands to drive digital first with the industry’s only real-time algorithmic decision-making platform that unifies data, decision-making and orchestration across marketing, digital commerce and merchandising for the retail industry. With cutting-edge retail AI connecting demand to supply with a real-time customer data platform as its foundation, Algonomy enables 1:1 omnichannel personalization, customer journey orchestration, analytics goods and working with suppliers. Algonomy is a trusted partner to over 400 leading retailers and brands, QSRs, convenience stores, and more; with a global presence in more than 20 countries.