10 Most Prestigious Companies of the Year 2021
Fayrix is a specialist software development company that has successfully set the seal on over 250 projects, within the course of the last 12 years. Having onboard a skilled team of engineers numbering over 1,500, the company is headquartered in Israel with 8 R&D centers located in Russia and Eastern Europe.
Q. Why Fayrix?
Fayrix Software is a young brand, emerged in a chain of merges and acquisitions in 2017, but we actually started our IT business back in 2005, having accumulated one of the largest IT human resource capital in Eastern Europe. We are 100% flexible and can offer our client from renting a single specific developer to building a whole offshore development center.
Fayrix has been specifically created to bring IT innovation to traditional commercial processes of IT companies. Because we are 100% online in terms of sales and marketing, Fayrix does not have any travel, representative or rental costs. This saves our budgets and lets us offer the most competitive rates, preserving the highest level of services provided, again confirming that Fayrix is the most innovative and digitally-advanced project.At the same time, cooperating with Fayrix does not incur the same risks as working with a freelancer. All our processes are well-established; developers are properly-managed, motivated, comfortable with their colleagues and friends in office every day.
Q. What is the need of FORECASTING Sales & Demand?
To reduce operational costs: Decrease inventory write-offs. Demand forecasting for fast spoiling goods is essential to accurately plan their delivery and minimize waste due to shelf life expiration.
Optimal warehouse stock management. Demand prediction allows to efficiently manage warehouse stock and both cut the amount of illiquid items and meet customer demand. Machine learning methods in this case allow to take into account seasonal changes and general trend enhancing the forecasting quality.
Production and supply chain optimization. Forecasting demand level for particular goods allows to decrease production costs. This can be achieved by applying specific planning methods. Demand prediction also helps to cut logistics expenses by uniting consignments of goods or getting volume purchase discounts
To increase sales: Decreasing unmet demand. Demand prediction allows having sufficient amount of products and goods on shelves to fully meet clients' demand. This both helps to boost sales revenues and win customer loyalty, which ultimately leads to higher sales in future.
Efficient product range management. Knowing demand for particular products allows to remove illiquid products and introduce more liquid articles in order to enhance turnover the most liquid items
Sales and demand are typically forecasted by methods of linear regression, gradient boosting with decision trees or recurrent neural networks based on historical data and some additional data on environment (weather conditions, market situation, currency exchange rates).
While pre-processing data, a number of statistical metrics on historical demand levels during a few historical periods are calculated. If demand is typically seasonal, the Data Science solution needs to take into account data for a few latest seasons. For example in case of forecasting intra-yearly seasonality, it is better to analyze data for 3 preceding years.
HR Analytics powered by Machine Learning
Fayrix Machine Learning solution facilitates efficient human resource management with automated CVs processing and employees’ resignation prediction.
Data Science is a great tool to develop unique solutions for HR analytics based on Machine Learning and Big Data. Such solutions can substantially decrease hiring costs, optimize recruitment process, anonymise evaluation methods for candidates' hard and soft skills, as well as help prevent issues related to manual CV screening and candidate applications processing.
While working with strong candidates, it is crucial to make a job offer ahead of competitors. Predictive analytics for HR can significantly help here. Machine Learning based solution automatically filters all of the received CVs, conducts a multi-dimensional evaluation of a candidate and provides an automatic report on their skills. This solution applies the methodology of social scoring based on Artificial Intelligence.
Ofer Zvi, Director
Ofer is with extensive experience in global corporate management and B2B business/products and technology activities (product management) ,entrepreneurship / Innovative , high systemic vision, strategic and Solution thinking construction and . Administrative capacity and practical experience in multi-year management of a wide range of areas such as operations, Business & sales marketing / development ,P&L, customer relations, development teams, product management and Raising money from VCs.