Deepspatial Inc, an outcome-based artificial intelligence company, said it has received a revenue-generating contract from a leading FMCG (fast-moving consumer goods) company in South Asia.
The length of the project is estimated at four months and pending successful results of the project, the company said it expects to work on a significant scale with the client.
"With the success of our solutions with DFM Foods, we've been focusing more on working with enterprises at a larger scale. Deepspatial is continuously expanding its offerings to enterprises and Government, and we are progressing significantly with the technological development of our platforms across several industries. Growing our technology IP and continuing to execute enterprise and government contracts remains our priority as we strive to build shareholder value for the long term," commented Dr Rahul Kushwah, chief executive officer at Deepspatial in a statement.
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Despite the industry being valued at $105.85 billion in 20211, Deepspatial noted that FMCG companies face several big challenges such as cost minimization, meeting increasingly diverse customer requirements, and ensuring availability and fulfillment of customer demand.
With consumer demand sometimes peaking up to 400%, the flexibility to adapt to fluctuations and shorter lifespans poses significant challenges, which can be solved by optimizing distribution, logistics, and supply chain operations, it added.
Deepspatial said its platform addresses the challenges that FMCG industry are currently facing with its distributors, wholesalers, retailers, and product segment availability for its appropriate target customers. The company's platform empowers its clients to analyze and optimize distribution networks using multivariate geospatial data analysis and outcome modelling tools, in return, helping companies make smarter decisions that make a difference.
Deepspatial enables organizations to enhance their decision-making capabilities by leveraging the power of data and AI. From finding the most efficient supply chain routes to knowing where to develop next, Deepspatial's AI-driven platform enables its clients to visualize what's going on, predict what's coming, analyze data, and optimize processes to make smarter decisions for a better future.
Contact the author at jon.hopkins@proactiveinvestors.com