Plug and Play invests in GenLots

With the launch of its Safety Stock Optimizer in 2020, GenLots’s founder and Co-CEO Simon Schenker introduced the first platform fully dedicated to supply planning aiming to transform existing Enterprise Resource Planning (ERP) systems that have barely changed in the past 30 years.

The Geneva-based startup combines a new costing model and proprietary reinforcement learning algorithm, which builds optimal supply strategies, breaking down the financial impact of planning decisions in real-time and drawing simulations on purchasing parameters and more. With their approach, GenLots achieves up to 50% reduction in inbound deliveries (which positively impacts the CO2 footprint), up to 30% reduction in inventory, and leverages discounts negotiated by procurement departments. These results become visible within three months as GenLots is served by rapid integration – as SAP Silver Partner. Furthermore, GenLots enhances the experience for supply planners and their colleagues in related departments and helps create a standard throughout the company.

Players in consumer goods, pharma, chemicals and industrial goods use the platform. Among them are large companies like Barry Callebaut, a global leader in chocolate production, Huber + Suhner, a major Swiss manufacturing company and pharma company Merck.

Partnership with Plug and Play
As a participant in the Plug and Play program, GenLots has been selected to receive financial support, in addition, to access to the program’s network of corporate partners to help them accelerate their growth and development. Plug and Play is the world’s largest innovation platform connecting over 30,000 startups, 500 world-leading corporations, and hundreds of venture capital firms, universities, and government agencies across multiple industries.

(Press release/RAN)