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Optimizing inventory management for online retail
Online retailers need to make smart, data-based decisions on what to stock and what not, to manage their large catalogues of items available.
Online retailers need to make smart, data-based decisions on what to stock and what not, to manage their large catalogues of items available.
Rather than shifting tasks to customers, AI is put to best use by automating repetitive tasks to free up retail personnel for higher-value and customer-centric work.
Retail is about people: what we need, what we want, and where and how we live. That’s why significant innovations always have and always will mirror demographic trends, such as rapid urbanization.
Where there is challenge, there is always opportunity. All grocers with waste reduction goals should take a serious look at the benefits of an integrated supply chain.
In the second part of this blog series, we discuss how retailers can effectively address one of the major change agents in the age of Living Retail: a power shift toward the consumer.
Living Retail is a state of constant flux, and retailers must plan for every possible future they might encounter — not just the static vision of the future they’re predicting today.
We interviewed a few CIOs to see what they thought were the corner stones of new system implementations and wrote down the recurring themes concerning retail planning.
Traditional retailers can recapture sales from digital players who have significantly lower service levels by ensuring great availability in stores.
Markdowns cost retailers billions, yet they are essential in the world of retail. To make most of it, retailers need to maximize margin and avoid excess stock.
Running a grocery business has changed fundamentally: The days of working on intuition have passed, and the days of data analytics and frictionless retail are here.
With AI hype going on, many forget that AI doesn't matter, but the results do. We now use pragmatic AI when describing how we use data for better decisions.
RELEX was used to simulate the dynamic safety stock levels and their effects on inventory and service levels in MIT research.
Years ago, a store may have stocked between 7,000 and 8,000 over-the-counter SKUs. Today, retailers have to account for and optimize anywhere between 15,000 and 20,000 SKUs.
Retailers are no longer interested in major system replacements. Instead, there's a trend toward implementing in parts rather than as a whole.
Many assume that a focus on quality leads to a higher level of waste. It doesn't. In fact, waste and quality problems often share the same root cause.
In grocery retail, the reality is that the change and the challenges aren’t going to stop anytime soon. If anything, the competition will just get tougher.
The NRF Retail’s Big Show in New York is among the most important retail industry events of the year. Among the trendier topics this year was the rise of AI.
Does corporate responsibility end with the spreadsheet, or do grocers have a second set of responsibilities – to the customers and the earth providing the goods?
16 % of large US grocery retailers still base their distribution center forecasts on historical data on outbound deliveries from these distribution centers. This is akin to driving a car while looking into the rearview mirror.
Choosing a supply chain planning system isn’t easy. That's why we've listed some things to consider if you’re going to transform your supply chain planning.
Earlier in September, representatives from 15 of the biggest grocery retailers across Europe, gathered at RELEX's Grocery Forum to discuss the future of unified retail planning.
Accurate forecasting is at the core of increased operational efficiency as it is key to accurately match resources, such as stock and personnel, with demand.
We surveyed leading North American grocers and compiled the key results in a study titled 'Growing and Sustaining Competitive Advantage in Grocery Retail'.
A supply chain is always a work in progress. You can optimize it so it’s running as close to perfect as possible and then circumstances change.