Luminous Power Technologies teams up with AI Start-up Mate Labs in order to Digitally Transform Its Supply Chain

Luminous Power Technologies, India's market leader in power backup and home electricals, today selected Mate Labs’ flagship product Mateverse to strengthen its supply chain against a potential Covid third wave. The company aims to cross Rs. 6,000 Cr by 2025 by adopting the technology to improve the forecasting and inventory availability.

 

Mateverse, developed by Mate Labs and branded as the world’s fastest and most accurate demand forecasting solution is a full-scale AI and ML-based forecasting platform that can dynamically predict end-customer demands while avoiding inefficiencies caused by supply and demand misalignment across business operations.

 

On partnering with Luminous, Rahul Vishwakarma, the Co-founder and CEO of Mate Labs said, that  “As a growing company, Luminous required a solution that could handle its complex and extensive supply chain. We can reduce the risk of overstocking, inventory waste, and maximise production efficiency and streamline purchasing by using Mate Labs' accurate and real-time demand forecasting. Our AI-first approach allows us to develop and deploy supply chain solutions quickly. In the coming months, we will provide a robust and detailed forecast that takes into account both historical data and current conditions. To achieve the best results, our platform will integrate all relevant data, allowing us to make accurate and profitable decisions to reduce inventory waste.”

 

Mate Labs is currently collaborating with global Fortune 500 companies to develop fully automated next-generation supply chains. The Indian AI startup has currently automated the current demand planning process and is working to automate inventory management, vendor management, distribution, and logistics.