Prosum: Celebrating a year of AI-driven growth across industries

Prosum delivers a suite of AI-driven profit optimisation solutions. (Image: TrueNorth Group)

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One year ago, TrueNorth Group proudly launched Prosum, our innovative suite of AI-driven profit optimisation solutions designed to revolutionise businesses across industries. We now celebrates Prosum's first anniversary and its widespread impact across diverse sectors, from retail and logistics to healthcare and beyond, with a special highlight on the dynamic and complex secondary agricultural market in South Africa.

As we emphasised in its initial launch announcement, businesses across all sectors face increasingly complex challenges in optimising pricing strategies, maximising promotional effectiveness and ensuring efficient inventory management. These challenges can significantly hinder profitability and growth, especially in sectors with fluctuating market conditions, decentralised decision-making and unpredictable external factors.

"This has been an exciting journey to offer our clients solutions that are not only fast to implement but also deliver immense value," says Hardus Odendaal, CEO of TrueNorth Group. "Our solutions have already been embraced by our existing clients, and we are witnessing remarkable results."

Prosum's AI-powered solutions have been instrumental in addressing these challenges across various industries. In the retail sector, for example, Prosum has enabled companies to personalise customer experiences, optimise pricing strategies and streamline inventory management, resulting in increased revenue and improved customer satisfaction. In the logistics industry, Prosum has helped optimise transportation routes, reduce shipping costs and enhance delivery efficiency. And in healthcare, Prosum has played a vital role in improving patient outcomes by optimising resource allocation and streamlining operational processes.

Prosum's impact has been particularly noteworthy in the secondary agricultural market in South Africa. This sector faces unique challenges, including fluctuating commodity prices, unpredictable weather patterns and complex supply chains. Prosum's AI-powered solutions have helped agricultural businesses navigate these complexities and achieve significant improvements.

• Enhanced profitability: By optimising pricing, we helped clients achieve an average 3.5% increase in revenue through margin optimisation. Pricing, promotions and inventory management delivered a 3%-5% increase in profits for agricultural businesses, helping them thrive in volatile markets.
• Granular insights: Our AI models analysed over 10 000 individual products within agricultural companies, providing granular insights that enhance decision-making across the supply chain.
• Demand planning: Leveraging over 4 000 statistical insights and well over a 1 000 model experiments, agricultural businesses have been able to predict demand patterns with greater accuracy, leading to smarter inventory and promotional decisions.
• Reduced margin leakage: AI-driven pricing enabled a 5%-10% reduction in margin leakage on price markdowns for agricultural retailers while maintaining healthy sales volumes.
• Optimised inventory: Data-driven inventory optimisation resulted in a 10%-20% reduction in redundant inventory for agricultural companies, streamlining operations and freeing up working capital.

"In the face of constant market fluctuations and supply chain complexities, AI-powered inventory management systems offer a strategic advantage," emphasises TrueNorth Group Managing Director, Hennie Fouché. "By leveraging predictive analytics and proactive planning, businesses can optimise their inventory levels, reduce costs and enhance their market responsiveness."

Prosum's achievements across diverse industries, including agriculture, are a testament to its ability to deliver tangible value and drive business growth. As Prosum continues to evolve and expand its capabilities, we remain dedicated to empowering businesses in all sectors to navigate complexities, optimise operations and achieve sustainable profitability.