Medica 2024: Efficient Inventory Management – Crateflow Enables Precise AI-Powered Demand Forecasting
In today's business landscape, companies face the increasing challenge of efficiently managing both overstock and understock. Excess inventory ties up capital, while insufficient stock can lead to customer loss. The solution: Crateflow, a startup emerging from the University Kaiserslautern-Landau (RPTU), is developing an AI-powered software platform that provides precise demand forecasts, analyzes future market and customer behavior, and predicts sales and inventory trends at the granular item level. The founders will present their innovative solution at the Medica medical technology fair (Düsseldprf, Germany) from November 11 to 14 the at the Rheinland-Pfalz joint stand (Hall 3 / E92).
The software platform assists companies in efficiently managing their inventory systems. "Tools like Excel and simple statistical models have long reached their limits," says Daniel Antonatus of Crateflow. "They are inaccurate, non-transparent, and lead to costly overstock, tied-up capital, and inefficient processes. In times of global uncertainty and fluctuating demand, new approaches are needed."
Beyond demand and procurement planning, companies can leverage the strategic Control Tower to gain a comprehensive overview of their supply chain and make intelligent, data-driven decisions in real time. The AI-powered forecasts integrate these insights directly into operations. This enables effective adjustments to inventory holding, sales, and production strategies, maximizing both customer satisfaction and resource efficiency. All modules of the solution are unified on a cloud-based platform that provides seamless interfaces to internal systems and ensures automated real-time processing.
Combining AI with expert knowledge
How does Crateflow's solution work? The infrastructure consists of forecasting models that the founders tailor to specific user scenarios. The software requires internal company data as input, such as from ERP or CRM systems (Enterprise Resource Planning; Customer Relationship Management). The AI analyzes vast amounts of data and incorporates external factors like the price fluctuations of various raw materials, inflation, freight costs, consumer indices, or even the weather. Additionally, the "What-if" system enables companies to explore different scenarios to make informed decisions for the future. "We believe that combining AI with human expert knowledge fundamentally changes how companies manage their supply chain, moving towards long-term efficiency and profitability in a rapidly changing world," says Markus Heidt, co-founder of Crateflow.
Through the software platform, companies not only receive more precise demand forecasts but also gain the flexibility to react immediately to unforeseen events. The solution is to comply with data protection regulations, can be seamlessly integrated into existing systems, and delivers added value: With Crateflow, companies can reduce their inventory by up to 40%, increase free cash flow by up to 15%, and boost sales by up to 20%.
Enabling full transparency
Another technical highlight of Crateflow is the platform's high transparency and explainability. Companies can trace exactly which factors influence demand for each individual item – including rising raw material prices, seasonal fluctuations, or the negative impact of inflation on investments. Crateflow also uses prediction intervals, allowing supply chain experts to better understand the scope and uncertainty of the AI models. At any time, it is evident how confident the AI model is in a forecast. Crateflow does not provide a black box but offers transparent and explainable data.
About the start-up project
Since February 2024, Markus Heidt and Daniel Antonatus, both graduates of RPTU (formerly University of Kaiserslautern), have been supported by the EXIST Founder Scholarship from the Federal Ministry for Economic Affairs and Climate Action and the European Social Fund. Markus brings extensive experience as a Data Scientist at Lidl in forecasting and inventory management, while Daniel worked as a management consultant at PwC in project and risk management. The positive response to their idea led to the founding of Crateflow GmbH. The Chair of Entrepreneurship at RPTU, led by Professor Dennis Steininger, supports the founders with professional expertise and provides them with office space. Additionally, the Digital Hub Worms and the Digital Hub Karlsruhe supplement this support with additional resources and know-how.
Questions can be directed to:
Markus Heidt
T: +49 17620203286
E: markus.heidt@crateflow.ai
W: https://www.crateflow.ai/
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Daniel Antonatus
T: +49 17661333036
E: daniel.antonatus@crateflow.ai
W: https://www.crateflow.ai/
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Klaus Dosch, Department for Transfer, Innovation and Sustainability, is organizing the presentation of the researchers of the RPTU Kaiserslautern at the Medica. He is the contact partner for companies and, among other things, establishes contacts to science.
Contact: Klaus Dosch, E-mail: klaus.dosch@rptu.de, Phone: +49 631 205-3001
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