Artificial Intelligence (AI) and machine learning are all the range in today’s world – and it seems as though a diverse set of top companies from a variety of sectors are showing an interest in the tech. Now, you can add one more name to the list: world-leading spirits and wine company, Pernod Ricard. The company announced in June that it was partnering with Australian AI software company Complexica, which will “deliver advanced artificial intelligence and machine learning capabilities to various supply chain and production functions.”
Pernod Ricard’s share price has increased by 14% so far this year
Source: Yahoo Finance
Specifically, Complexica will be partnering with Pernod Ricard Winemakers in an attempt to get the company’s operations moving away from paper, whiteboards, and spreadsheet-based systems. Instead, the drinks company will rely on Complexica’s cloud-based solutions for a range of functions, including planning, scheduling, and push/pull optimisation.
In a statement, Pernod Ricard Winemakers’ global operations director, Brett McKinnon, said: “After conducting an evaluation and assessment process earlier this year, we have selected Complexica as our vendor of choice for our AI Foundations project, which will seek to optimise our business performance, by enhancing decision making and improving our ways of working, while making work safer for our employees. We wanted to partner with an organisation that could provide global thought leadership on applied Artificial Intelligence – particularly in areas such as global optimisation and multi-objective optimisation – and had a deep appreciation of winemaking production processes, and the inherent complexities that exist within supply chains. We found that partner in Complexica and look forward to working together in the years ahead.”
Matt Michalewicz, Complexica’s CEO, added: “Optimising supply chain decisions across multiple operating sites and time horizons is a difficult and complex undertaking, but one that can drive significant benefits in areas such as asset utilisation, volume throughput, quality, and working capital requirements. Applying Artificial Intelligence software to such challenging problems is our core competency as a business, and we look forward to working with Pernod Ricard Winemakers to realise the end-state vision of optimised decision-making across their end-to-end supply chain.”
Disclosure
Dominion holds Pernod Ricard in its Global Trends Luxury Fund.
Author: Theo Leworthy
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