Retail Technology Magazine’s Post

📰 News: 📰 --- The Surprising Ways AI is Transforming U.S. Retail Delivery and Supply Chain 🚚🤖 Artificial intelligence is emerging as a game-changer, with over 40% of supply chain organizations investing heavily in AI. In a world where the retail landscape is ever-evolving, the potential for AI to significantly impact how we move goods is staggering. Let's dive into some eye-opening metrics: - A McKinsey study revealed that executives expect AI in supply chain operations to bring cost savings between 10-20%. - Despite this potential, only 6% of companies are effectively using AI in their supply chains today. - Online apparel returns are sky-high, exceeding 25%, making AI-driven reverse logistics increasingly vital. AI is not just a buzzword; it's revolutionizing demand forecasting, optimizing inventory management, and creating dynamic feedback loops for real-time adjustments. With AI-driven insights, the U.S. retail industry can meet consumer demands with unprecedented accuracy and efficiency. Curious about how AI could transform your business? Drop your thoughts in the comments below! 👇 And don’t forget to follow Bernier Group for more insights and updates on driving digital transformation! -AIFuture -SupplyChainInnovation -RetailRevolution #Hospitality #Ecommerce #Retail #Commerce #Manufacturing #Logistics #Strategy #Innovation #Business #ArtificialIntelligence #AnniQ https://lnkd.in/efwmCNBc

Demand forecasting is a crucial aspect of supply chain management, especially for ecommerce businesses. Accurate demand forecasting can help #ecommerce businesses optimize their #inventory levels, improve their supply chain planning and minimize the risk of stockouts and waste. Codept highlighted the many benefits of using #AI in demand forecasting for e-commerce businesses: 1️⃣ Improves accuracy of sales predictions: AI can provide more accurate predictions of future demand, helping businesses to better plan their inventory levels and supply chain operations. 2️⃣ Enables better supply chain planning: By accurately predicting future demand, businesses can optimize their supply chain operations to ensure they have enough inventory to meet customer demand while minimizing waste and stockouts. 3️⃣ Helps reduce waste and minimize stockouts: AI can help businesses to avoid overstocking or understocking, eliminating the risk of lost revenue or increased costs. 💡 AI demand forecasting isn’t about replacing human expertise. It’s about empowering your business acumen with the analytical muscle of machine intelligence. 

🚀 The Retail Revolution: Don't Get Left Behind 🚀 In today's retail landscape, businesses face unprecedented challenges like economic volatility, operational efficiency, supply chain complexities, and evolving consumer expectations. Is your retail business prepared for these shifts? Ask critical questions about profit margins, customer engagement, and agility in decision-making. Embracing AI is crucial; early adopters are already seeing significant benefits in sales and efficiency. Discover more insights in our latest blog post and download our free whitepaper on Gen AI in Retail to unlock the full potential of AI for your business and stay ahead in this evolving market. Read now: https://lnkd.in/gQQWRcy8 #RetailRevolution #AIinRetail #BusinessStrategy #RetailTech #GenAI #PDI

Does AI help retail CEOs sleep better at night? It just might, given how this innovation is so versatile, helping to boost efficiencies and protect margins. In this second installment of a 3-part series, we look at how AI improves retail processes and business functions. Flip through the pages to see how AI helps leading retailers and brands enhance:   📣 Business functions like marketing and customer service 🚚 Retail processes like fulfillment and inventory management 🛍 The customer experience ❤️ The employee experience What other AI in retail processes, business functions or examples would you add? Stay tuned for the final installment, AI Permeates Retail Markets, to see why AI has emerged as a global phenomenon. ____________________________________ 🛍 Follow me for global retail trends & strategy. ✅ Message me to find out more about my B2B marketing services and affiliates for your 2025 strategy. ____________________________________ #retail #ecommerce #AI #tech

Generative AI is quickly emerging as a game-changer for CPG and retail brands, reshaping demand forecasting, procurement, and logistics. By leveraging AI-driven insights, companies can streamline operations, cut costs, and stay agile in dynamic markets. Check out this white paper to see how Generative AI can transform your supply chain and fuel sustainable growth: https://lnkd.in/gFKTPAum #Bristlecone #SupplyChain #WhitePaper #GenerativeAI #GenAI #CPG #Retail #LogisticsOptimization #ProcurementExcellence #OperationalEfficiency Devesh Gole Ankit Vishwakarma

Integrating AI into Retail: Let’s take a closer look at a successful AI integration in Retail and the real-world benefits it has provided. Retail uses AI to forecast demand, manage inventory, and optimize supply chains. How it works: AI systems at analyze vast amounts of data related to customer purchases, seasonal trends, and external factors like weather and holidays. Based on these Data insights, AI helps predict which products will be in demand at specific times and optimizes stock levels in warehouses and stores in advance. Tangible benefits: • Reduced excess inventory and stockouts, leading to lower storage and transportation costs. • Improved customer experience, as products are consistently available, especially during peak periods. • 10-15% increase in forecast accuracy, enabling Retail to save millions of dollars in supply chain management. By leveraging AI, Retail has managed to not only optimize its operational processes but also enhance the overall shopping experience for customers. AI-driven demand forecasting has played a crucial role in reducing operational costs and ensuring better product availability, especially in high-demand seasons. #AIinRetail #ArtificialIntelligence #MachineLearning #RetailInnovation #SupplyChainOptimization #InventoryManagement #DemandForecasting #RetailBusinessEfficiency

70% of retailers say they’ve lost at least 4.5% of revenue due to store inefficiencies like out-of-stocks, inconsistent price and promotion execution, and poor assortment planning. Automation and #AI technologies pave the way to reducing or eliminating these needless revenue shortfalls. Consider the power of AI technology in retail: 📈 Generate accurate inventory demand forecasts 💲 Ensure consistent pricing deployment across stores with automation ❗ Leverage Vision AI to identify and alert staff of out-of-stocks at the shelf These are just a few examples of how AI in retail can save money, support higher revenues and optimize labor. Explore more retail automation solutions: https://lnkd.in/g3rKyhtx *Source: Simbe + Coresight Research, “The State of In-Store Retailing,” March 2024. #Retailing #ThoughtLeadership

"2 in 3 consumers prefer to shop in-person & 73% rely on physical stores for their purchases." - IBM Institue for Business Valuye Despite the rise of e-commerce... 𝗽𝗵𝘆𝘀𝗶𝗰𝗮𝗹 𝗿𝗲𝘁𝗮𝗶𝗹 𝗿𝗲𝗺𝗮𝗶𝗻𝘀 𝗽𝗼𝗽𝘂𝗹𝗮𝗿. But can your in-store experiences meet modern expectations? Many retailers today wrestle with keeping their shelves aligned with fast-changing consumer tastes. A mismatch that often leads to missed sales or piles of unsold items. It all comes down to smart use of Retail AI to fundamentally enhance how you manage inventory and forecast demand: >> AI predicts buying patterns. Retailers can fine-tune their stock levels. This ensures popular items are always available, without overstocking slower-moving products. >> Imagine knowing your inventory levels at every moment. This isn’t just about preventing stockouts. It enables dynamic pricing strategies to sell products more effectively. >> Efficient inventory management reduces waste and costs. It also minimizes the carbon footprint. Optimizing supply chains allows retailers to advance toward sustainability. Retail AI is reshaping the industry. It’s practical and effective. Forward-thinking retailers are using it to stay competitive. As consumer behaviors shift, AI provides the flexibility to adapt quickly. Accurate, real-time data is key to powering these AI solutions. Nimble 's Web API helps you capture the datasets needed for AI. Sharpen your demand forecasting and optimize inventory management. Comment "NIMBLE" below, and I'll set you up with a free data consultation to help you stay ahead in the competitive market! #AI #InventoryManagement #RetailInnovation #ConsumerExperience #DataAnalytics

🏪 This industry focused book on AI and automation is masterclass. The author spends the first few chapters grounding the reader in the broad applications of AI and then narrows down specifically to its application in retail. Here are the top highlights: 1. Every concept related to retail is supported by data referenced either in tables or by figures in the book 2. Explains concepts at a high level, and also at deep technical level in a natural progression 3. Extensively reviews upfront and ongoing costs to implement solutions 4. Provides a playbook on executing these solutions within any retail organization It should be mentioned that the author owns a technology company called Focal Systems that is aimed at addressing some of the issues presented in this book. That being said, Focal Systems offers an intuitive solution that helps to automate store shelf accuracy with shelf cameras, improving the availability and accuracy of products to optimize operational processes of retail stores! Definitely give this a read if you’re interested in either retail OR automation. 😁 https://lnkd.in/eWT55_QG