Wonderchef Selects Algonomy to Enhance Inventory Turnover and Profitability
Bengaluru, June 08, 2022: Algonomy, the leader in Algorithmic Merchandise Analytics today announced that Wonderchef, India’s leading cookware and kitchen appliances maker is implementing Algonomy’s technology platform to improve top-line sales, inventory turnover, and better anticipate customer needs in an evolving market dynamics thereby improving profitability.
Wonderchef currently serves over 30 million happy customers across its 18 branded outlets, 10,000 retail outlets, all modern trade partners, and at all major eCommerce platforms.
Wonderchef will leverage Algonomy’s Merchandise Analytics tool to unify its data and drive insights-infused decisioning. It will also help Wonderchef harness the benefits of an integrated platform that will provide a holistic and analytical view across sales, inventory, buying, assortment, pricing, promotions, and operations. Machine Learning (ML) based algorithms will enable smarter and faster decision-making across demand planning, inventory management, and price discount optimization with mathematical precision.
Algonomy’s algorithm factors in a range of diverse elements such as holidays, seasonal and planned promotions, product attributes, and geography to provide detailed actionable insights. The Artificial Intelligence (AI) powered predictive forecast will generate prescriptive recommendations – such as inter-store transfers to negate potential stock-out scenarios. In tandem, Wonderchef will now be able to act and profit on analytics-driven opportunities that would have otherwise been categorized as lost sales owing to amorphous inventory management.
Algonomy’s platform will also enable intelligent supplier collaboration. Wonderchef will be able to scale supplier performance by leveraging visibility into the trade partner supply chain with automations that power onboarding, order-to-pay, and supplier-funded promotions and rebates.
“Partnering with Algonomy allows us to equip our team with appropriate insights to anticipate our customers’ needs and deliver meaningful solutions in a timely and personalized way.” said Ravi Saxena, Founder & MD at Wonderchef. “Algonomy is one of the leading business solution providers with a good pedigree and experience. Their success with partnerships in similar industries showcases a depth of knowledge and understanding of the process. They also offer a wide range of solutions and products that are needed for business intelligence, which helps us in our decision-making process.”
“Algonomy’s team has been collaborative and open to new ideas and suggestions throughout the initial phase of this project. They have also been very flexible with their approach, which will help us in achieving our desired objectives”, added Ravi Saxena, Founder & MD at Wonderchef.
“We’re thrilled to be a part of Wonderchef’s amazing growth journey and work alongside their team in deploying powerful and relevant data-driven experiences for their team & customers”, said Amit Agarwal, SVP – Business Development (APAC & MEA) at Algonomy. “We will leverage our retail expertise in helping Wonderchef effectively analyze and process structured and unstructured data in real-time to unearth granular insights helping them optimize their costs and grow.”