Optimizing Inventory, Identifying Assets Savings, and Growing Revenues

Speedy aim to provide its customers with excellent service through having the right assets available when and where they are required. This has led us to achieve a strong market position with outstanding brand advocacy. However, the challenge was to optimize our forecasting and inventory management while maximizing revenue. They needed to be able to hold minimal assets to reduce costs, while also maintaining service levels and ensuring that product availability was high.

Speedy Hire PLC

Speedy Hire PLC is an FTSE-listed equipment rental and support services provider based throughout the UK, Ireland, and the Middle East. Serve customers across multiple industries, including construction, infrastructure, industrial, manufacturing, facilities management, retail, leisure, and events, as well as local trade.

Peak worked closely with Speedy’s asset team to understand vital business goals and processes. They have developed a range of bespoke forecasting algorithms based on factors such as; product popularity and seasonality to optimize our forecasting accuracy and inventory holdings across thousands of SKUs.

Peak and its AWS-powered AI solutions are help to maximize revenue through better management of lead generation and lead scoring. Previously, the segmented customers were based on historical spending and region, but now, thanks to AI, they are able to reclassify customers based on their potential opportunities.