Why You Care
Ever wonder if artificial intelligence (AI) is only for tech giants? Do you think your small business can’t benefit from AI? Think again. A 16-year-old company, Netstock, is changing that perception. They are making AI accessible and valuable for smaller enterprises. This news shows how practical AI applications can directly impact your bottom line. It’s about real savings and improved efficiency for businesses like yours.
What Actually Happened
Netstock, a company with a long history in inventory management, recently shared a significant achievement. According to the announcement, they have served up 1 million AI-driven recommendations to their customers. This milestone highlights their success in integrating artificial intelligence into their inventory planning software. The company reports that 75% of its customers have received an “Opportunity Engine” suggestion valued at $50,000 or more. This “Opportunity Engine” is Netstock’s AI tool. It sifts through data to identify potential savings or improvements for businesses. This shows a clear benefit for smaller companies looking to streamline operations.
Why This Matters to You
Netstock’s approach makes AI less intimidating for smaller businesses. Imagine you run a supply company. You might be wary of complex new technologies. However, Netstock’s system offers a gentle entry point. It provides recommendations that you can choose to use or not use. This flexibility helps build trust. For example, Bargreen Ellingson, a 65-year-old restaurant supply company, was initially cautious. Their chief creation officer, Jacob Moody, explains their initial apprehension. “I could not have gone into our warehouse and said, ‘Hey, this black box is going to start managing,’” Moody told TechCrunch. This highlights the need for a user-friendly approach. The AI helps create signals from the noise of vast inventory data. It assists less-senior staff in becoming more effective. What if your team could make better decisions, faster, with AI assistance?
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----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Netstock, a company that’s been around for 16 years, is helping small businesses use artificial intelligence (AI) to improve their inventory management. The company recently announced that its AI tool has made 1 million recommendations to date. This tool helps businesses avoid mistakes and save money. For instance, 75% of Netstock’s customers have received an “Opportunity Engine” suggestion valued at $50,000 or more, according to the company. This shows a tangible financial benefit for their users.
One such customer is Bargreen Ellingson, a family-run restaurant supply company. They were initially hesitant about using AI. Jacob Moody, their chief creation officer, explained their cautious approach. He says he pitched Netstock’s AI as a tool that warehouse managers could “either choose to use, or not use.” This approach allowed them to “eagerly, but cautiously dipping our toes” into AI, as detailed in the blog post. This highlights a common challenge in AI adoption: building trust and allowing for gradual implementation.
The AI helps Bargreen Ellingson by sifting through numerous reports that staff use for inventory decisions. While the AI summaries are not 100% accurate, they “help create signals from the noise” quickly, especially during off-hours, the team revealed. Moody also noted a “more profound” change: the software made some of their less-senior warehouse staff “more effective.” This indicates that AI can empower employees, not just replace them. It can help them make better, faster decisions by providing clearer insights from complex data. This is a significant benefit for businesses of any size.
The Surprising Finding
Here’s the interesting twist: while many assume AI is about automating jobs, Netstock’s tool actually made less-senior staff more effective. The study finds that the software helped these employees improve their performance. It didn’t just replace their tasks. Instead, it augmented their capabilities. This challenges the common assumption that AI primarily leads to job displacement. It shows that AI can be a assistant, enhancing human decision-making. Think of it as providing a smart co-pilot for your team. This allows them to focus on higher-level tasks and complex problem-solving. It turns out AI can be a tool for empowerment.
What Happens Next
As Netstock continues to refine its AI offerings, we can expect more small businesses to explore similar solutions. The company’s success with 1 million recommendations suggests a growing demand. Businesses will likely see more inventory management tools offering optional AI features. These features will help identify inefficiencies and potential savings. For example, imagine a small retail store. Their inventory system could suggest optimal reorder points based on sales trends and supplier lead times. This could happen within the next 12-18 months. My advice for readers is to start exploring AI solutions that offer a flexible adoption model. Look for tools that support your existing staff, rather than just replacing them. The industry implication is a broader democratization of AI. More small and medium-sized businesses will gain access to analytical capabilities. This will help them compete more effectively. Jacob Moody’s experience at Bargreen Ellingson provides a valuable lesson. He says their process was about “eagerly, but cautiously dipping our toes” into AI. This gradual approach can be a successful blueprint for others.