After finding success in the African market, Nihilent Ltd., an Indian consulting & services company, has chalked out plans to go global with its offerings. In this front it has decided to introduce Resense, an AI/ML business platform, in the global market and to unveil Artoreal, a marketplace for painting and photographs, shortly.
“Going global is the strategy for the future. Now we want to go full hog into America with our IPs,” said LC Singh, executive vice chairman, Nihilent Ltd. in an interview.
Resense, the real-time demand forecasting engine for the Food & Beverages (F&B) segment and Quick Service Restaurant (QSR) brands, which has been developed and implemented in India, was introduced in the U.S. market last month and will be in other markets in the future.
Resense harnesses the power of AI and ML to inform through insights from its advanced Real-Time Demand Forecasting Engine. This platform’s Automated Replenishment & Allocation service detects demand patterns orchestrating indents from stores to warehouses and onward to vendors, the company said.
This process balances forecasted demand with available inventory and in-transit stocks, computing required SKU-level indents during replenishment cycles, This service determines warehouse-to-store replenishment quantities, factoring in vendor fill rates and individual store demand patterns.
“In the realm of F&B and QSR brands, achieving optimal availability with fresh ingredients while minimising waste is an everyday challenge. Resense delivers remarkable results for brands, elevating their performance across the board,” said Mr. Singh.
“With Resense, brands can enhance their forecasts by up to 90%, achieve an impressive fill rate of over 95%, significantly cut inventory costs by up to 30%, and reduce wastage to below 1%. These substantial improvements can lead to an impressive increase in profits of up to 105%,” he said.
Resense, which has been deployed at a leading pizza chain in India, has helped the chain reduce wastage by 40%, the company said.
The solution operates as a cloud-hosted service (SaaS) platform. It envelops retail and consumer brands, offering a comprehensive suite of functions across the business spectrum.
Meanwhile, the company is also gearing up to roll out Artoreal, an online marketplace for paintings and photographs which could come to light on a wall with the help of Augmented Reality (AR).
“This online marketplace not only offers a curated selection of exquisite paintings and photographs but also opens the door to cutting-edge technology. We bring Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR) into the realm of art, ushering in a new era of interaction and engagement,” Mr. Singh said.
Stating that the company’s core ethos revolve around making art accessible he said, “We understand the value of art in enriching lives, and thus, we endeavour to make exceptional artworks affordable for everyone. Our revolutionary VIXR technology takes it a step further by democratising the art selection process,” Mr. Singh said.
With just four online steps—Select, Customize, View on Your Wall, and Order—one can bring exceptional artwork to one’s space hassle-free, he said.
The platform not only serves art enthusiasts but also empowers artists to showcase their creations through the lens of innovation.
The company has set up design labs in India, South Africa and the U.S. to co-create solutions for its clients from various fields.
“Our labs cater to diverse business types and verticals, facilitating product/content validation, project leadership, design workshops, and disruptive market launches. They seamlessly blend design, engineering, user experience, and marketing perspectives, culminating in innovation,” Mr. Singh said.
The company’s User Experience (UX) Labs in Pune, Johannesburg, and Dallas are at the forefront of driving transformational experiences, ushering in a new era of business powered by design, he said.
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