Having limited shelf space doesn’t necessarily mean limiting profit. An effective Assortment Optimization solution solves a growing retail merchandising problem.
Doesn’t it feel like the rules of how to ‘win at retailretail’ are constantly changing and shifting their focus? First the key was to bring in people to the physical store and shape their customer experience- making it memorable in some way. Then retail seemed to shift its focus to rely heavily on online shopping, leading to several brick and mortar retailers struggling to stay afloat. Today, BOPIS, the latest in retail trends, is throwing a life preserver to the brick and mortar store.
Consumers love buy-online, pick-up-in-store (BOPIS). Retailers love the way BOPIS allows them to drive traffic to stores and leverage their physical footprint as a competitive advantage against online pure-plays. But consumers bring higher expectations to BOPIS than they do to simply shopping in a store: The retailer has explicitly told them the item is available, so the bar is set high.
Unfortunately, for many retailers, BOPIS failures are alienating the very customers they most want to please, hurting them in both the short- and long-term.
For the second year in a row, Retail CIO Outlook Magazine has recognized 4R Systems as a top 10 artificial intelligence solution provider.
Retail CIO Outlook Magazine published their annual listing of the top 10 companies using artificial intelligence to positively impact the retail environment.
Analytics in Retail over the past couple of decades has grown from better predictions to better decisions.
Don’t miss 4R this year at Booth 3981.
January 13-15 | Javits Center in NYC
The 4R team invites you to visit with them at NRF Booth 3981.
Stop by our booth to learn how Machine Learning and AI can help improve your
EXPO Hall and Innovation Lab Hours
- Sunday, January 13: 9:00am – 4:30pm
- Monday, January 14: 9:00am – 5:00pm
- Tuesday, January 15: 9:00am – 4:00pm
Please complete the form below to set up a time to meet with us at NRF Booth 3981.
4R sponsors the NextPoint event for the fifth consecutive year and will present its next generation assortment optimization solution for omni retail supply chains.
BERWYN, PA, September 2018 – 4R Systems Inc., a leading provider of advanced omni retail inventory and supply chain solutions, announced its sponsorship of NextPoint 2018 September 30-October 3, 2018 at The Westin Kierland Resort & Spa in Scottsdale. NextPoint is a gathering of visionaries from top retail chains driving innovation that leverages technology in a unique, structured, strategic forum.
4R will present its suite of profit optimized inventory solutions in a boardroom setting where individual retailers can share their inventory challenges privately and confidentially. 4R’s solutions maximize retail profits by using machine learning and advanced analytics. The solution accurately prescribes what, when, and where each SKU should be in the retail chain. 4R’s inventory products are also tailored to solve the specific challenges and of each retailer they work with.
Mark Garland, Executive Vice President Sales, Marketing & Solutions, said, “This will be our fifth consecutive year at NextPoint and we are just as excited to attend as we were in our first year. The meeting environment at NextPoint is unique and enables us to share a considerable amount of information on how our supply chain and inventory solutions help retailers increase profit. Other networking events are rushed and distracting, but NextPoint offers a great way to meet with new retail professionals and reconnect with other clients.”
4R serves as the sponsor for the NextPoint hiking excursion through Cave Creek Regional Park. The hike enables retailers to explore the scenic, natural Sonoran Desert with majestic mountain views. The tour will go down the Go John Trail, a 2-hour, 5.9 mile, moderately rated loop trail.
Garland added, “Hiking is a great activity and this tour offers a chance for retail professionals to build relationships outside of the office. We hope everyone will join us for some fun on our hiking excursion.”
Retailers can learn more about 4R’s profit-optimized omni retail inventory solutions at NextPoint and at www.4rsystems.com. Get live updates on Twitter by searching for #nextpoint18. Connect with 4R on Facebook and LinkedIn for insightful industry trends and best practices.
4R will be participating in the LATAM Retail Show from August 28-30 in Sao Paulo, Brazil. Kevin Stadler, President & CEO, 4R Systems Inc., will be presenting Optimizing Assortments by Focusing on Attribute-Based Demand Patterns. 4R Systems invites retailers to learn how to optimize inventory in seemingly unpredictable environments.
BERWYN, PA, August 2018 – 4R Systems, Inc. a leading provider of advanced omni retail inventory and supply chain solutions, announced it will be presenting at the 2018 LATAM Retail Show in Brazil. The company uses science and technology to help retailers maximize profit from their omni retail inventory investment.
LATAM Retail Show is the premier event for retail, franchise, e-commerce, food service and shopping centers in Latin America. The LATAM Retail Show brings together content of strategic relevance with a broad area of exposure of that present solutions and favor networking and business effectiveness.
Kevin Stadler, President & CEO said, “While this is our first year attending the LATAM Retail show, we have no shortage of experience in Latin American markets. We have a presence in Brazil and we are eager to meet with new executives, to equip them on how they can optimize their supply chain.” Stadler continued, “A common problem for retailers is selecting the right products, at the right time, at the right locations. Our solutions help determine the perfect assortment, which maximizes retail profits.”
During his presentation, Stadler will show retailers how to analyze the everyday shopper’s buying behavior using retail data pattern recognition principles and applying those to the typical retail environment. Using real examples from 4R’s suite of inventory solutions, Stadler will also present a more profitable approach to consumer patterns and show how assortment optimization improved the profits of one of its clients, a global high end luxury retail business.
Optimized inventory is a must in an omnichannel landscape. By leveraging real-time modeling to uncover customer patterns, retailers can adjust assortments — and amounts — of merchandise based on when customers are ready to make a purchase, according to Kevin Stadler, president and CEO of 4R Systems.
Chain Store Age recently spoke with Stadler regarding how forecasting, risk assessment, machine learning and predictive analytics are paramount in optimizing inventory and positioning retailers for maximum profitability.