Supply.AI: Solving the Problem of Returns

Key Points

• Supply.AI is an applied artificial intelligence (AI) platform that helps retailers derive maximum cost efficiencies from their order-to-cash cycle by minimizing returns of online purchases. In 2015, returns represented a $260 billion problem for retailers. The average in-store return rate has increased from 8% in 2015 according to the National Retail Federation’s Annual Return Fraud Survey to over 20% in 2016, according to Supply.AI’s analysis.
• Supply.AI uses AI deep learning to correlate consumers’ individual online shopping trends with their shipping patterns and return history in order to determine how likely they are to return an item.
• Supply.AI helped one large omni-channel retailer identify and prevent an estimated $61.2 million in returns.