With 1,500+ stores in the U.S. and more on the horizon, Five Below has had to optimize its inventory planning, allocation and replenishment to account for all its product varieties, turning inventory and available units. Under Graham’s guidance, the company implemented AI-powered solutions from Invent Analytics to acquire the following capabilities:  

• Inventory and store replenishment that uses AI to position the right inventory at the right stores at the right quantity daily;  
• Dynamic demand forecasting that not only accounts for seasonal event data but also specific store, location and product characteristics;  
• Profit-optimized inventory decision making using probabilistic forecasts, machine learning model selection and AI decision making to determine how to best position each product to generate the highest incremental profit;  
• Optimized replenishment to determine optimal reorder points and order quantities; and 
• Phantom inventory detection to reduce unnecessary stockouts and lost sales, improving customer satisfaction. 

Five Below can now consider many variables to predict sales probability and demand variation. With Invent Analytics, the retailer is now able to process enormous amounts of data so it can address its wide range of planning needs and consider hundreds of demand influences, ensuring that inventory reaches the right store at the right time to capture every sale and boost margin.