Profit Optimized Inventory for Retailers
The holiday shopping season is right around the corner and for many retail owners, this can be a stressful time for many reasons. There are larger crowds, a need for extra staff, the general strain of the holiday hustle and bustle and the guessing game of how much extra inventory you’re going to need in your store to accommodate those crowds. [Read more…]
Phantom Inventory may sound like the latest Ghostbuster or Batman flick, but the truth is this is a real thing that is causing hundreds of retailers to lose profits every day over misplaced merchandise.
4R Systems recently sponsored an article by Retail Touchpoints called “3 AI Success Stories: Tips from Overstock.com, Finish Line, and H&M.”
Mark G. Garland, Executive VP of Sales, Marketing and Solutions at 4R describes how omni-retail algorithms run parallel with customer demand.
How can retailers compete against Amazon if they can’t compete on price?
Customer experience can easily outperform price. More retailers are focused on localisation – optimising their supply chains to answer customer demand. True customer service moves beyond friendly clerks. It’s offering customers the products they want, when they want them, and where they want them.
Maximize Supply Chain Profitability using Machine Learning and Advanced Analytics