Scale-up Interview: Flowlity
Flowlity is the first supply chain planning solution built as a network. Using AI, Flowlity connects companies in a network to optimize their inventories to limit cost and avoid shortage.
How would you describe your business idea to a potential investor (who is not an expert in your particular profession)?
We are a generation that realized that resources are not unlimited. To limit waste, costs and shortage we have to calculate accurately the demand and the need that goes along with it. So we wanted to mix AI and latest supply chain theories to limit inventories and optimize the supply chain.
What problem do you want to solve, what is your goal?
Every year, trillions of euros are lost as the result of shortages or overstocks by manufacturers and distributors. This is a complex challenge because the problem is systemic. Traditionally, this issue was resolved at the company level by optimizing individual business performance. But with companies more interconnected than ever before and their supply chains growing more extensive, inventory optimization cannot be solved by looking at the company as an independent entity.
From Day 1, Flowlity has been conceived and built as a network. Our technology has been developed so that the solution can act as a trusted third party between the different stakeholders in the supply chain.
How did you come up with your idea/concept?
I (Jean-Baptiste Clouard) joined Entrepreneur First in 2018 and met Karim Benchaaboun, my co-founder. He has a strong data science background and worked at criteo and I come from a supply chain environment.
We met, talked a lot and shared ideas on how we could revolutionize the supply chain world.
We read many theories about data sharing to prevent the bullwhip effect in a supply chain, and realized that no one has ever provided a real solution or software that can scale easily to a large network of partners. While the theoretical answer has been around for a long time, implementation can seem strategically difficult. Certain types of data, such as production plans, order books, or forecasts, are too sensitive to be shared with business partners.
This missing link is one of the main reasons why few companies today achieve a high degree of maturity, even among the current supply chain flagships.
So we realized we wanted to be this missing link in the supply chain.
Flowlity co-founders Jean-Baptiste Clouard, CEO and Karim Benchaaboun, CTO
What is your business model?
We are a SAAS company with a monthly subscription.
Why did you decide to apply to Scaleup4Europe?
We have a bold vision and are an ambitious team. We believe that Scaleup4Europe has the capacity and experience to support us in our project.
Get more information about Flowlity on their website or connect with the team on LinkedIn or Twitter.
Flowlity is part of the Scaleup4Europe HealthLab Batch #1.
You want to join one of the four Scaleup4Europe Labs as well?
Get more information and apply at scaleup4.eu.
