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Profit Optimized Inventory for Retailers

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Get an Aerial View with Clustering Analysis

November 18, 2020 By 4R Systems Leave a Comment

Recently, 4R Systems introduced the all-new 4R Navigator – a suite of machine learning-powered analytics services designed to help retailers solve critical business challenges. 4R Navigator consists of four scientifically designed solutions that provide actionable insights with very fast results, and without the typical overhead costs. These solutions can be deployed and provide quick – but substantial – wins in as little as 3-6 weeks.

We already explored SKU Rationalization and how it can help you navigate your assortment. To better comprehend what clustering is, it’s best to get an aerial view of your organization so you can see the bigger picture.
[Read more…]

Filed Under: Analytics, Artificial Intelligence, Assortment Optimization, Blog, Forecasting, Machine Learning

One of These SKUs is Not Like the Other: Navigating Your Assortment

October 12, 2020 By 4R Systems Leave a Comment

Optimizing Your Assortment with 4R Navigator

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Filed Under: Analytics, Artificial Intelligence, Assortment Optimization, Blog, C-Store, Forecasting, Machine Learning

Must Have Tools to Enhance CX

August 27, 2020 By 4R Systems Leave a Comment

Boost Sales by Improving the Customer Experience in your C-Store

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Filed Under: Analytics, Artificial Intelligence, Assortment Optimization, Blog, C-Store, Demand Planning, Machine Learning, Replenishment

3 Ways to Increase Profits from Online Sales

July 20, 2020 By 4R Systems Leave a Comment

In a time of record-breaking online sales, now is the perfect time to evaluate online retail sales strategies. However, online shopping is obviously not new and certain customer expectations must be met. If your online retail store isn’t measuring up to expectations, online consumers will shop elsewhere for the products they want. Here are three ways you can increase profits from your online sales.
[Read more…]

Filed Under: Assortment Optimization, Blog, BOPIS

Elevate Your Assortment to Capture More Sales from Online Traffic

July 6, 2020 By 4R Systems Leave a Comment

Online shopping has grown steadily over the past few years. One study found that “online sales grew by 15.1 percent in 2019 and accounted for 51.1 percent of all retail growth last year.” This year, more consumers than ever have shifted to online shopping as part of their regular routine. According to a recent report, “42 percent of consumers are using digital channels to engage in activities more often than they did before.” The U.S. Census Bureau also reported first quarter eCommerce sales to be up 2.4 percent ($160.3 billion) from the fourth quarter of 2019.

[Read more…]

Filed Under: Assortment Optimization, Blog, BOPIS

Maximize Retail Profits in Stores with Limited Shelf Space

August 19, 2019 By 4R Systems Leave a Comment

Having limited shelf space doesn’t necessarily mean limiting profit. An effective Assortment Optimization solution solves a growing retail merchandising problem.

[Read more…]

Filed Under: Assortment Optimization, Blog, inventory

3 Ways Assortment Optimization Differs from other
Inventory Related Solutions

August 5, 2019 By Marsha Shapiro Leave a Comment

Assortment Optimization is a powerful tool for retailers to increase profit and improve customer experience and loyalty. It combines cutting-edge machine learning techniques, an agile continuous improvement methodology, and flexible customization to accommodate unique business requirements. Like other related solutions, assortment optimization utilizes machine learning techniques and AI to find the optimal assortment for every SKU in each store location. However, assortment optimization offers other unique benefits.

[Read more…]

Filed Under: Assortment Optimization, Blog, inventory Tagged With: Assortment Optimization, inventory, localization, retail

How AI & Machine Learning Make
Assortment Optimization More Profitable

July 29, 2019 By Stefano Alberti Leave a Comment

AI-based systems do not always make better decisions than humans. Find out why, and how to make sure your system is getting the best of both worlds.

Man vs. Machine

When it comes to Assortment Optimization, AI (artificial intelligence) and machine learning play a key part behind the scenes. While a human perspective helps, there are two important factors that make AI very important: scale and automation. For example, a large retailer with 1,000 physical stores and 10,000 products has as many as 10 million assortment decisions to determine which stores should carry which SKUs, what quantities, and when. Even though a significant portion of product offering is chainwide, that still leaves a formidable number of micro-decisions to be made. This amount of decision-making for humans is inefficient and not very profitable.

[Read more…]

Filed Under: Analytics, Artificial Intelligence, Assortment Optimization, Blog Tagged With: Assortment Optimization, inventory, localization, retail

Assortment Optimization: Why it’s the Foundation for Localization

July 22, 2019 By Kevin Stadler Leave a Comment

Assortment optimization is a major focus area for retailers at the moment. Retailers need more accurate SKU rationalization, a better understanding of what to buy in the future, and localized assortments that drive sales. Getting this right is crucial in the market today. There are a few traditional ways that retailers plan out their assortments. They either 1) think through their assortment from a business process standpoint, 2) look at loyalty and shopper data to determine assortment, or 3) think of a brand-new method to determine assortment.

[Read more…]

Filed Under: Assortment Optimization, Blog Tagged With: Assortment Optimization, inventory, localization, retail

Machine Learning: What It Is and How It Can Help Retailers

February 5, 2019 By 4R Systems Leave a Comment

Analytics in Retail over the past couple of decades has grown from better predictions to better decisions.

[Read more…]

Filed Under: Analytics, Artificial Intelligence, Assortment Optimization, Blog, Forecasting

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