Solving the $1.8 Trillion Inventory Distortion Problem with Karl Swensen

Karl Swensen and Joe Lynch discuss solving the $1.8 trillion distortion inventory problem. Karl is the CEO and Co-founder of Pull Logic, an AI-enabled tech company focused on reducing lost sales for retailers, brands, and manufacturers due failure points in the supply chain and selling processes. Summary: Solving the $1.8 Trillion Inventory Distortion Problem In this podcast, Karl Swensen, CEO and Co-founder of Pull Logic, discusses how their AI-enabled technology helps retailers, brands, and manufacturers reduce lost sales by addressing supply chain and selling process failure points. The company focuses on solving the problem of inventory distortion, which is having too much of the wrong inventory and not enough of the right inventory. Pull Logic uses the Product Availability Ratio (PAR) score to optimize inventory management and ensure customers have access to the products they want when they need them. By using data analytics and advanced algorithms, Pull Logic helps businesses identify the right products to stock, increase sales, reduce unproductive inventory, and improve sustainability. The podcast also touches on Karl Swensen's background in industrial and systems engineering and his experience working with major companies in supply chain consulting. #InventoryOptimization #AIPoweredSupplyChain #ReducingLostSales About Karl Swensen Karl Swensen is the CEO and Co-founder of Pull Logic, an AI-enabled tech company focused on reducing lost sales for retailers, brands, and manufacturers due failure points in the supply chain and selling processes. Karl is an executive and professional with a proven track record of growing businesses, implementing change, and leveraging digital technologies with a wide range of companies in North America, Asia, and Europe. His expertise is in supply chain, operations, and manufacturing and has worked at the intersection of strategy and technology to maximize results for companies and shareholders. His work in industry, consulting, and with technology companies have given him a unique perspective in understanding the complete picture and future vision and how to implement it, and he has also led large groups of people with revenue and P&L responsibilities.  In his free time, he likes to snow ski, compete with his spin cycle buddies, and travel with his family. About Pull Logic Pull Logic is based on research out of the Georgia Institute of Technology and the work of Dr. Benoit Montreuil who leads the Supply Chain and Logistics Institute there and solves the $1.8 trillion problem of “Inventory Distortion” as defined by the retail advisory firm, IHL Group.   Its narrowly focused AI solves this inventory distortion problem of “lost sales” and “unproductive inventory” and has yielded results of up to 30% revenue increase and up to a 50% decrease in unproductive inventory. While the Pull Logic solution is simple to understand and implement, it uses sophisticated algorithms and models based on the customer’s data to predict customer demand and manage inventory more efficiently.    More importantly, it does not replace existing systems but complements and works alongside them to achieve these results and can be implemented in a matter of weeks. Key Takeaways: Solving the $1.8 Trillion Inventory Distortion Problem Learn how AI-enabled tech company Pull Logic reduces lost sales for retailers, brands, and manufacturers. Discover how Pull Logic uses AI to solve inventory distortion and improve supply chain efficiency. Understand the concept of creating a pull system rather than the traditional push system in inventory management. Explore how accurate demand forecasting and inventory optimization ensure the right products are available for customers. Gain insights into the massive problem of inventory distortion and its trillion-dollar impact on companies. Learn about the Product Availability Readiness (PAR) concept and how it measures inventory and informs deployment decisions. Discover how the Pull Logic's Product Availability Ratio (PAR) Score optimizes inventory levels for retailers, brands, manufacturers and their dealer networks. Timestamps (00:00:00) Solving the $1.8T Inventory Distortion Problem (00:00:58) Solving Inventory Distortion with AI (00:01:16) Pulling Inventory to the Consumer (00:02:25) Solving Inventory Distortion with Accurate Forecasting (00:06:30) From Georgia Tech to Supply Chain Innovator (00:08:38) Pologic: Simplifying Supply Chain Challenges (00:10:17) Solving Inventory Distortion with Pologic (00:11:15) The Frustration of Limited Shoe Selection (00:12:26) Optimizing Inventory with Product Availability Readiness (00:15:35) Optimizing Inventory with Predictive Metrics (00:19:31) Optimizing Inventory with the Parfix Solution (00:23:46) Optimizing Inventory with Smarter Data (00:28:37) Optimizing Inventory for Better Sales (00:31:34) Optimizing E-commerce Inventory Management (00:35:49) Improving Inventory Efficiency with Data Analytics (00:39:44) Solving the $1.8T Inventory Distortion Problem (00:41:51) Leveraging Data for Better Supply Chain Decisions (00:42:57) Optimizing Inventory Management with Artificial Intelligence (00:45:05) Engaging Logistics and Supply Chain Leaders Learn More About Solving the $1.8 Trillion Inventory Distortion Problem Karl Swensen | Linkedin Pull Logic | Linkedin Pull Logic Retail Inventory Distortion Study – The Good, The Bad, The Ugly – 2023 Case Study Tractor 2024 R3.pdf PL eCommerce Case Study 2024 r1 050624.pdf Episode Sponsor: Revenova Contact Us | Revenova The CRM-Powered TMS with Michael Horvath | The Logistics of Logistics The Logistics of Logistics Podcast If you enjoy the podcast, please leave a positive review, subscribe, and share it with your friends and colleagues. 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The Logistics of Logistics is a podcast hosted by industry expert Joe Lynch. Joe interviews founders, executives, and innovators who are shaping the future of logistics and supply chain. Topics include transportation, logistics, warehousing, technology, supply chain, and ecommerce. The Logistics of Logistics audience expects an inside perspective of what’s next in logistics and supply chain delivered via podcasts, videos, and articles. Topics include: Transportation Topics Small package, Small parcel, Air Cargo, Ocean Shipping, Ocean freight, Bulk carriers, Cargo ships, Container ships, Tankers (ocean tankers), Refrigerated ships (reefers), Roll-on/roll-off ships, Multi-purpose ship, General cargo ship, Break bulk cargo, General cargo, Less Than Truckload, LTL, Tractor, Trailers, Tractor-trailers, 48-foot trailer, 53-foot trailer, Truck lift-gate, Truck terminals, Truckload (TL), Full Truckload (FTL), Freight, Palleted freight, Pallets, Fleet acquisition, Equipment, Drivers, Truck Drivers, Driver leasing, Driver training, Driver safety, Hours of Service (HOS), Electronic Logging Device (ELD), Driver outsourcing, Dedicated Contract Carriage (DCC) Carrier contract, Spot rates, Contract rates, Pickup and delivery, Carrier Instructions, Freight characteristics, Dock management, Intermodal, Containerization, Containers, Final mile, Last mile, Rail transportation Warehousing Topics Warehouse storage, manufacturers, importers, exporters, wholesalers, transport businesses, customs, Pick and Pack, Sub-assembly, Site Location, Distribution Center Management, Inbound shipping, Outbound shipping, Receiving, Putaway, Put-away, Order processing, Replenishment, Pulling, Restocking, Picking, Validation, Sorting, Distribution Center Management System (DCMS), Vendor Managed Inventory (VMI), Supply, Demand, Inventory, Inventory Management, Cross-docking, Cross-dock, Ecommerce fulfillment, Fulfillment, Packaging Logistics Topics 3rd party logistics, 3PL, 4th party logistics, 4PL, Just-in-Time (JIT), Payment auditing, Freight auditing, Payment Processing, Freight brokerage, Freight broker, Digital freight brokerage, Digital freight broker, Transparency, Visibility Special Topics Direct to Home, Direct to Store, Sustainability, Green Logistics, Reverse Logistics, Product Lifecycle Management, Supply Chain Security Analysis, Contingency planning, Crisis Planning, Global Expansion, Foreign Trade Zone (FTZ), Logistics Consulting, Transportation Consulting, Import / Export, Customs, Labor Management, Marketing Services, Customer Service Technology Topics Supply chain technology, Freighttech, Freight tech, Freight technology, EDI, Enterprise Resource Planning (ERP), Predictive Analytics, Technology Services, Web Services, Global Trade Management (GTM), Transportation Management System (TMS), Warehouse Management System (WMS), Supplier Management, Customer Management, Cloud Based Solutions, Wireless