Heitek Automation Leveraging Thrive Technologies’ AI Platform to Optimize Inventory and Reduce Dead Stock
Thrive Technologies is working with Heitek Automation to optimize its inventory and help alleviate cumbersome manual processes contributing to dead stock.
Heitek distributes more than 50 premier brands across the Southwest, including Arizona, Colorado, Utah, Nevada, and New Mexico. They supply essential automation components for various industries, including automotive, government, food & beverage, machine building, medical and life sciences, semiconductor, and water processing. Their inventory includes cables and connectors, enclosures, framing and kits, network and communication equipment, machine controls, lighting and safety systems, motion control, panel components, and pneumatic systems.
Addressing an increasing accumulation of dead stock is Heitek's top priority with Thrive. Approximately 29% have been identified as SLOB (Slow Moving and Obsolete) and another 29% are at risk. Thrive aims to dynamically optimize minimum and maximum inventory levels and SKU rationalization, which are challenging to manually maintain for wholesalers managing tens of thousands of SKUs across multiple locations. These tasks also cannot be effectively managed with traditional forecast-based systems.
"We selected Thrive for its cutting-edge system capabilities and promising return on investment,” said Heitek Director of Materials Derek Drogowski. “We are confident that this partnership will deliver immediate benefits by proactively identifying at-risk inventory, resulting in significant enhancements in customer satisfaction, inventory turnover, and financial stock-to-cash metrics."
Heitek will leverage Thrive’s Thermostock® AI solution, which analyzes billions of data records to optimize the profitability of low-selling SKUs which might only sell a handful of times per year, but must remain in stock for customers. Thrive AI will work alongside Heitek’s existing Prophet 21 ERP to automate the analysis and SKU rationalization process, as well as stocking optimal quantities of low-selling SKUs.
“I’m grateful Heitek turned to Thrive to help optimize their inventory, and confident our AI technologies will alleviate the burden that comes with managing 30,000 SKUs across multiple locations,” said Thrive Technologies CEO Rick Morris. “We’re proud to be able to offer them a seamless solution that doesn’t come with a complex system implementation, but instead works with their current ERP to optimize their inventory, eliminate the manual work, and ultimately improve their bottom line.”
Additional information about Thrive Technologies, including its entire ERP inventory optimization platform for wholesalers, can be found online at https://www.thrivetech.com. Additional information about Heitek is available at https://www.heitek.com.
About Thrive Technologies
Thrive Technologies is committed to solving supply chain planning issues for inventory-intensive companies without requiring expensive risky software implementations. Thrive has developed patent-pending technologies that leverage AI to analyze billions of rows of inventory data to prevent up to 90 percent of the accumulation of dead stock, increase parts fill rates by 8 percent, and reduce lost sales by at least 50 percent. Thrive’s inventory solutions are live within days, integrate closely with clients’ ERP systems, and provide unprecedented agility in managing unpredictability and change in demand and supply chains.
For more information, please visit Thrive Technologies at www.thrivetech.com or follow them on LinkedIn, Facebook, or X.
Mike Waterloo
Thrive Technologies
+1 6789965765
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Distribution channels: Automotive Industry, Consumer Goods, Manufacturing, Shipping, Storage & Logistics, Technology
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