UAB "Inherent Simplicity Baltic", together with its partner Klaipėda University, carries out EU funding, the purpose of which, in the course of R&D activities, is to create an innovative range using artificial intelligence technologies and an optimization system. The system will not only analyze the dynamics of changes in the assortment of a specific store, but also comprehensively monitor the behavior of groups of the same assortments in other stores of the network in order to balance the sales of the entire network. The best cases of product grouping of assortments and their combinations will be identified, their adaptation will take place in real time, trends will be observed and finally specific optimization tips will be provided. The users of the assortment optimization system are various retail and pharmacy chains (as well as individual stores) who need to manage and optimize their trade operations more efficiently, improve inventory management, increase sales and ensure better customer satisfaction and service.

The project is implemented in accordance with the progress measure of the economic transformation and competitiveness development program of the Ministry of Economy and Innovation of the Republic of Lithuania, manager of the 2022-2030 development program No. 05-001-01-05-07 "Create a coherent system for the promotion of innovative activities" the impact of the activity "Promote the supply of innovations" "Invest in the development of new APV products and provide opportunities for researchers to participate in the R&D activities of companies, promote intellectual property, early testing of new products created production, preparation for the market" (central and western Lithuania region)".

Project value: EUR 1.109.605, of which EUR 770.448 is EU support. The project is co-financed by the European Union.

Duration of implementation of project activities: from June 2024. until June 2026

More information: www.esinvesticijos.lt