Peak product update: Co:Driver in the hot seat

Co:Driver

The team have been focused on delivering more amazing functionality into Co:Driver, our agentic generative AI assistant that was first launched at AltitudeX in October 2023. Co:Driver brings the latest in generative AI capabilities to all of Peak’s products. Using Large Language Model (LLM) agentic workflows to power a multi-purpose conversational interface, you can ask any questions about your data or the AI  that’s driving our inventory and pricing products. We’re incredibly excited to showcase our first three innovations in this space that we’re bringing to general availability today.

Co:Driver Analyze

Analyze allows users to ask questions, via our natural language interface, of their data and their AI to surface insights that either used to require many hours of manual interpretation, or weren’t available at all. Rather than spending time in spreadsheets trying to answer questions, you can now simple ask Co:Driver “which of my products has the longest lead-time in the north west?” or “what are my ten most overstocked SKUs in all stores in London?” Co:Driver now better connects your people to your data and AI, enabling them to make decisions that will move for the needle for their business objectives.

Co:Driver Explain

Peak has many years of experience of landing AI deployments successfully in businesses, and we know that helping people to understand why AI has recommended a certain course of action is often as important as providing the recommendations themselves. Co:Driver Explain provides an additional layer of insight into the why. Users can query a natural language interface to better understand why a specific prediction has been made, and get a clearer insight into their own AI. Through asking questions such as “why is SKU9175 had its price reduced by 17%?” and “why is my safety stock level for SKU310779 set to 1200?”, Co:Driver provides the user with a straightforward explanation, walking them through the calculations that have led to the prediction and improving their understanding of their AI.

Co:Driver Support

Ready access to Peak’s user guides and onboarding documents is key to ensuring that teams can leverage and gain the benefits of AI quickly. Through Co:Driver’s conversational in-platform interface, you can now ask how to carry out a task, understand what elements of the product do and say and rapidly find the information you need to do your job. Through receiving an enhanced user experience, you can develop your AI skills, and accelerate your AI product’s time to value.

This update is not just all about Co:Driver, however — our core AI products have benefited from some incredible new functionality and updates over the last three months.

Pricing AI

We have a bumper selection of updates to our Pricing AI product for both retail and manufacturing use cases. These deepen our AI capabilities whilst offering exciting new functionality to meet the needs of demand planners and merchandisers.

For retail

Leading our updates for our retail offering is the introduction of smart segments for markdown. Smart segments brings predictive customer segmentation to your pricing recommendations, allowing someone building pricing campaigns to use even more focused pricing optimization with their customers. Pricing AI can now recommend that you provide discounted prices to customers most likely to purchase, based on previous buying patterns and product preferences, improving your business KPIs.

Combined with our recently released global product page, which provides a portfolio view of all products and exposes key operational KPIs and underlying price elasticities, you can have greater control of what you price, and to who.

For manufacturing

Our most exciting innovation and newest release in the manufacturing space is list pricing. Pricing products throughout their lifecycle is hard, and setting that list price in the first instance is often the hardest. Often those decisions are made based on gut-feel and historical inertia. Through Peak’s years of experience successfully driving commercial results for business, we know how AI can improve those decisions and increase pace throughout the process. We’ve built this experience into our list pricing module, optimizing the list prices for your business to keep prices competitive whilst maintaining product margins. List pricing allows pricing managers to analyze and manage prices across their products with a single interface, recommending granular SKU-level price changes with the forecasted impact removing the guesswork and driving your key KPIs. And this is just the start for list pricing…

We’ve also taken this approach with the latest improvements to our quote pricing offering, providing those same pricing managers with deeper functionality. Quote pricing now has the ability to set and change business guardrails, allowing you to make changes in-line with your pricing strategy, combined with an improved ability to quickly generate geo-specific prices. Our direct integrations into your ERP system also now ensures that your CPQ process is enriched by AI, with optimized quotes put in the hands of your sellers as quickly as possible.

Inventory AI

Our inventory product continues to offer additional functionality and configurability to ensure that supply chain managers and planners always have the right product, in the right place, at the right time. We’re so confident that these updates will drive the business value you need, we now guarantee the product’s performance.

For retail

Recently released is a new configuration for our Inventory AI product that provides more commercially-focused KPIs and linecards better suited to the needs of retail businesses. This ensures that your teams have access to all of the information they need from their data and their AI in order to make the best decisions to drive business performance.

For manufacturing

We now provide the ability to optimize your inventory levels across all SKUs and locations, based on your fill rate, in addition to cycle service level. This upgrade to our safety stock module ensures that we can meet the needs of more businesses, particularly in the manufacturing and CPG space, who measure On Time in Full (OTIF) as a key metric.

In addition, a new update to our reorder functionality will allow us to create supplier optimal purchase orders. This means that our Inventory AI product can set reorder points that account for additional constraints from your external suppliers that have a minimum order quantity (MOQ) either by units or value. This allows Inventory AI to really understand the unique complexity of your business and supply chain, ensuring that your AI is driving your business performance in the right way.

We’re incredibly excited to be introducing these updates to Peak’s products and AI platform, leading with our AI assistant Co:Driver. These enhancements will provide you and your team with more insight and understanding of your data and your AI, offering clarity on how it works and allowing you to accelerate your business KPIs. Combined with our new product updates which deepen and widen our industry-specific offerings ensures that you Peak can help businesses drive real commercial value like never before. We’ll be back in a few months to show you what we’ve been working on in Q3 — see you then!