Supply Chain Matters This Week in Supply Chain Tech highlights breaking news regarding the announced acquisition of European based LLM AI tech provider Garvis by Logility.
Today there are two breaking news developments regarding supply chain management technology providers.
In our prior posting, we highlighted reports that Dave Clark, former senior business executive at Amazon, has suddenly resigned as CEO of Flexport after taking the reins of the digital start-up in March.
In this posting we highlight today’s announcement by supply chain planning technology provider Logility indicating a definitive agreement to acquire Garvis, described as a visionary startup that combines large language models (LLM’s) with AI-native demand forecasting.
Antwerp, Belgium based Garvis describes itself as “A revolutionary SaaS company on a mission to create the world’s first Bionic Demand Planning system.” The technology aims to provide planners with control of user-trainable, transparent AI for navigating the ever-changing real-world data. The company CEO is Piet Buyck, who’s leadership experience includes sales and business executive roles spanning supply chain tech providers E2open, Terra Technology and a host of other software firms.
Garvis reportedly has over 70 implementations of the provider’s technology, with a focus on demand forecasting and management needs in consumer goods, food and beverage, industrial manufacturing and life sciences industry settings.
The combination will reportedly focus on enabling a new supply chain planning paradigm by leveraging Garvis’s DemandAI+, moving beyond conventional methods to plan product demand and inventory at the speed of market changes.
Commenting on the announced acquisition, Allan Dow, President of Logility indicates:
“We are at the precipice of a significant transformation in supply chain planning with advancements in technology, generational shifts of planners, and the significant speed of market changes and disruptions. With an AI-driven approach at their core, Garvis revolutionized the way companies forecast demand in very dynamic market. We’re bringing them into Logility’s portfolio to accelerate our shared vision to break the boundaries of traditional myopic supply chain planning solutions.”
No financial details have been shared regarding this acquisition.
According to the Garvis website, the company is now a part of Logility.
Supply Chain Matters will provide additional coverage and added perspectives when additional information is shared. This is likely one of many other future announcements by supply chain management tech providers in leveraging, partnering, augmenting or acquiring LLM, ChatGPT or other advanced AI tech providers. The question comes down to market acceptance and readiness.
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