900,000 DKK support gives data-driven company the opportunity to work with artificial intelligence

14. April 2020

The company NetHire has developed a mobile equipment management system that handles management and rental of tools. By quickly delivering tools where the customer’s employees need them, the craftsman avoids wasting working time driving to and from the warehouse and office. NetHire Materielstyring is today used by more than 1000 landlords in more than 100 locations.

About Nethire A / S

NetHire A / S was founded in 2017 and today has 8 employees. NetHire A / S handles division / rental of tools via a material management system for installers, craftsmen, contractors and rental companies in the construction industry. With NetHire, craftsmen on their smartphone can get an overview of the company’s tools and book it with delivery to the site. If the company does not have the tool in stock, he can book rental tools from a company in the NetHire network on the same app. That way, the company never runs out of the right tool – and the employee does not have to spend working time picking it up.

NetHire A / S has received TIME funding for research and development of an algorithm for their mobile material system. When co-financing through the TIME program, NetHire must test the algorithm so that current inventories can be minimized without compromising security of supply.

40 – 50% smaller stocks with new algorithm

For some years, the company NetHire A / S has worked with an algorithm that can predict which stocks a given rental shop or craftsman must have of machines, materials and tools to have a given security of supply at a given percentage, eg 99.9%. The algorithm is based on previous queries and combines these with weather forecasts. The weather forecasts must be included in the algorithm. The weather is of great importance in the construction industry, as a large number of tasks, for example, cannot be solved in rainy weather and can therefore change the project schedules and thus tool and resource consumption.

At present, small samples have been made of the algorithm’s reliability and these have been very promising as we have seen results on stocks being able to be cut by up to 80%.

Overall, NetHire A / S expects to be able to minimize the current inventory by between 40-50%, within the project’s 12-18 months.

“The fact that we have received support gives us resources to work with research, an area that is otherwise far from the daily life we ​​have. Our innovation project consists of working with artificial intelligence and developing our AI which we expect will give our company a huge boost. If we had not received support from Project Time, this would not have been possible to implement ”. Johnny Noisen, Development Director, NetHire A / S

Support program helps development along the way

When the innovation project is completed, the algorithm is expected to be tested and developed so that all partners in the NetHire community will be able to benefit from the savings that the algorithm will provide in terms of smaller inventories and correct combination of products while ensuring security of supply – geared to future demands.

“By being data-driven and working with digital and online partnerships, we have chosen the right path” Johnny Noisen, Development Director, NetHire A / S

NetHire is based on Microsoft technology and is hosted in Azure. With NetHire’s web services, the system easily integrates with the vast majority of ERP systems, including Dynamics NAV and AX, Movex, M3 and Aspect4.

About TIME

The energy and environmental technology sector faces a number of development needs in relation to developing new innovative products, solutions or concepts. The project TIME (Technology Innovation, Environment and Energy) offers a 3-year support program where small and medium-sized companies together with DTU can develop environmental and energy technology solutions and products. CLEAN also has four programs that cover other regions in Denmark. TIME is financed by the EU Structural Fund under the Capital Region.