South KoreaRetail and e-commerce2023 – ongoingK Car
AI demand forecasting and used-car inventory management
K Car used AI inventory management as inventory turnover days fell to 31.16
Problem
Used-car inventory decisions depended on individual experience. Changing demand could leave vehicles unsold and increase holding costs.
Approach
K Car worked with Emro to develop forecasts of model-level sales and selling time. The system combined vehicle attributes with demand and economic variables. By May 2024, AI inventory management was operating alongside changes to the vehicle portfolio.
Results
Takeaway
Inventory turnover improved alongside AI use and portfolio changes. The improvement was not isolated as an AI effect.
Categories
- Industry
- Retail and e-commerce
- Business function
- Logistics and supply chain
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Partner co-development
- Evidence
- Press reporting
Sources
Source summaries
Thebell calculated turnover days of 39.51 for 2023 and 31.16 for Q1 2024 from company filings. It confirmed AI inventory management and described concurrent portfolio changes.
K Car described developing the system with Emro using its historical vehicle data. Forecasts covered sales by model and expected selling time, with price simulation supporting inventory decisions.
Full details are in the original sources.