BP invests in AI forecasting to enhance CX, reduce waste
Summary
The investment is also part of a broader scheme to facilitate BPs transition towards growth engines, including EV charging, hydrogen, bioenergy, and renewables and power.The agreement signed with RELEX Solutions will allow BP to leverage artificial intelligence to provide in-depth forecasting and analytics. This will enable the company to anticipate and meet customer demand fluctuations, enhancing supply chain planning for BPs retail sites and Wild Bean Cafes in the UK. With the RELEX platform, were aiming to strike the balance between maximising availability and minimising food waste - optimising each stage of the supply chain from the warehouse to the store." With the growth of BPs convenience and food service offer comes new supply chain challenges managing seasonality, short shelf-life products and minimising food waste, all of which anticipate increased demand and crucial product sourcing and decision-making.In response to BPs investment, Mikko Krkkinen, Co-founder and Group CEO, at RELEX Solutions stated: "Were delighted to collaborate with BP to optimise their supply chain and support their goal of reducing waste something were passionate about impacting with technology." He added that their AI-based platform uses a broad range of datapoints to craft bespoke demand forecasts for every product in every store, leading to superior customer satisfaction, increased sales, and reduced food waste.After implementing the RELEX Solutions platform in the UK, BP is considering expanding its use to more of its 3,300 company-owned retail sites across Europe further, reinforcing the companys commitment to improving the overall customer experience.
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