A new fund between CBIT Venture Builder and the UK’s top grooming brand, BarberBoss has been granted to improve supply chain efficiency and reliability through the use of artificial intelligence (AI).
BarberBoss has experienced rapid growth in recent years and deals with complex supply chain operations, selling its products through multiple channels including Amazon and Boots.
The company has now partnered with the Centre for Business and Industry Transformation (CBIT) at Nottingham Business School to assist in digitally transforming its stock inventory management.
The Centre’s team will analyse open-source software, such as AI-based tools like ChatGPT and CoPilot, which can help to manage, oversee, and optimise the supply chain management process — from sourcing raw materials to delivering the final product to the customer.
The project will also create dashboards and visualisations which will give BarberBoss a comprehensive and real-time understanding of various aspects of the business, including sales trends, inventory levels, delivery status, and supplier performance.
By integrating AI tools into business practices, BarberBoss will benefit from informed decision-making in sales, marketing, and product development, as well as enhanced operational efficiency thanks to a centralised system. The technology will also ensure continued high-quality customer service by ensuring that BarberBoss meets consumer expectations in terms of product availability and delivery times.
Rui Shi, the co-founder and CEO of BarberBoss, describes how this project will help BaberBoss: “We are looking to enhance the resilience of BarberBoss supply chain, enabling the company to overcome challenges and adapt to the ever-changing business landscape. This will ensure effective responses to dynamic market conditions and meet the growing demands of customers, launching new products and expanding market share globally.”
The Venture and Product Manager at CBIT, Georgi Iliev, explains how the outcomes of the project will also benefit the wider industry: “Not only will this project support BaberBoss’ ambitious growth plans, but it will also provide a blueprint for other small and medium-sized enterprises in the UK and worldwide to improve their supply chain management and increase their competitiveness in the global marketplace.
“SMEs could quickly and affordably develop custom IT systems that improve their operations, supply chain visibility, and responsiveness to changing demand. The project could also help to bridge the gap between industry and academia, fostering collaboration and knowledge-sharing that could benefit both sectors.”
CBIT has been chosen to deliver this Knowledge Transfer Partnership (KTP) due to its expertise in the areas of industry transformation research, disruptive business practices, and business education.
The team will support BarberBoss with identifying the key performance indicators crucial for its growth, as well as advising on business model and process innovation, and new product development. CBIT will also provide BarberBoss with training and guidance on how to implement advanced analytics methods.
For more information on CBIT, visit the website.