Live Ventures Deploys AI Engine to Forecast Demand, Cut Costs, and Accelerate Retail Margins

Core Insights - Flooring Liquidators, a subsidiary of Live Ventures, has integrated artificial intelligence into its operations to enhance inventory management, delivery efficiency, and in-store availability [1][2][3] Group 1: AI Integration and Operational Efficiency - The company has embedded AI directly into daily operations rather than using it solely as a back-office tool, allowing for real-time demand forecasting based on sales and inventory data [2][3] - AI-driven demand forecasting enables Flooring Liquidators to position products closer to customers before demand peaks, optimizing inventory placement [2][3] - The implementation of AI has led to improved planning and sequencing, resulting in damage rate reductions of over 80% and increased overall throughput [4] Group 2: Performance Management System - Flooring Liquidators is deploying an AI-driven performance management system named "No Excuses AI," which monitors performance across all branches and identifies anomalies [4][5] - The first phase of the system analyzes thousands of transactions weekly, generating prioritized alerts based on severity [5] - The second phase focuses on defining problems clearly and steering managers towards specific solutions, while the third phase aims to auto-detect patterns and suggest improvements before sales decline [6] Group 3: Broader Transformation and Future Outlook - The advancements at Flooring Liquidators reflect a broader transformation within the Live Ventures portfolio, where AI is applied to create immediate advantages across various companies [7] - Live Ventures aims to transform conventional operations into more efficient enterprises by incorporating AI, robotics, and data analytics [9]