Winsupply invests in Mined XAI to improve AI and ecommerce
Summary
Winsupply Inc. has acquired a minority stake in Mined XAI, an artificial intelligence company that develops data-driven applications for supply chain and business operations.The investment is intended to improve Winsupplys supply chain, purchasing, distribution, fleet management, and ecommerce capabilities. The company generates over $1.5 billion in revenue, with about 15% coming from online sales, according to published reports.Winsupplys ecommerce platform allows customers to browse and purchase products, including plumbing fixtures, HVAC equipment, and electrical components, through locally managed online storefronts.The investment expands on a three-year working relationship between Winsupply and Mined XAI. The partnership aims to develop Explainable AI (XAI) applications, which provide transparency in AI-generated insights. Winsupply expects these applications to enhance decision-making in areas like inventory management, demand forecasting, and customer recommendations.This partnership is a significant step forward for our company, says Jeff Dice, president of Winsupply Inc.Robert DiTommaso, president of Winsupplys Support Services Group, said the investment reflects Winsupplys effort to use AI to improve business operations.We have seen the impact of using AI in our operational processes, and we anticipate this relationship will accelerate our overall business operations, including ecommerce, DiTommaso said.Mined XAI develops forecasting and customer-focused AI tools designed for scalability across different industries.Ryan Kramer, president and founder of Mined XAI, said the Winsupply partnership will help the company expand its reach.The trust we have cultivated over the past few years ensures we are aligned in our mission to develop XAI solutions that deliver value to Winsupply and the broader marketplace, Kramer said.The companies did not disclose financial terms of the deal.Sign up for a complimentary subscription to Digital Commerce 360 B2B News. Contact Mark Brohan, senior vice president of B2B and Market Research, at [email protected].