Peak's Performance Guarantee shows businesses that implementing technology to optimize inventory doesn't have to come with high risk.
Manchester, England, April 16, 2024–(BUSINESS WIRE)–Inventory distortions are projected to cost retailers $1.77 trillion in 2023. To combat this, companies are leveraging AI to optimize inventory, avoid missed sales, and reduce capital tied up in excess inventory. Today, Peak is launching a performance guarantee on inventory availability to demonstrate the reliability of his AI applications and prove that AI deployment doesn't have to be a risky venture.
Peak allows businesses to predict, order, and balance optimal inventory levels across their networks. With a performance guarantee, Peak will refund the cost of a customer's AI application if the overall availability of the product across the network falls below the agreed rate during the warranty period.
Performance guarantees are especially important for organizations that want to reap the benefits of AI without being aware of the risks that new technology brings. With a critical need to reinvent and evolve, companies continue to embark on large-scale transformation programs, but these programs are often plagued by expanded scope, longer timelines, and overspending. In an era of high interest rates and high costs of capital, companies need to be confident that their technology investments will not turn into “digital dust.”
“Peak's inventory customers will see, on average, a 20% reduction in inventory holdings while increasing customer availability,” said Richard Potter, CEO and co-founder of Peak. “With nearly a decade of experience developing and deploying AI, this performance guarantee validates Peak’s product maturity and provides assurance to our customers that optimizing inventory with AI doesn’t have to come with high risk. In unpredictable times, Peak provides welcome stability for businesses looking to transform their operations with AI.”
Peak's AI guarantees are developed in collaboration with reinsurance partners and rigorously tested by a team of external AI reinsurance experts.
About peaks
Founded in Manchester in 2015 by Richard Potter, David Leitch and Atul Sharma, Peak is on a mission to change the way the world works by democratizing AI for every business.
Peak's customers include global industry leaders such as Nike, Molson Coors, Marshalls, and Eurocell. The company's cloud AI platform includes a library of AI applications that help businesses generate rapid performance improvements by optimizing inventory and pricing.
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