Hello Retail friends, “Phantom inventory” sounds like a scary term – and for good reason. It refers to goods that appear available in inventory systems but are physically missing from the shelves. The result? Lost sales, frustrated customers, and distorted demand forecasts. The good news is there is a better way, by using predictive inventory. This is a technology that leverages machine learning to identify inventory inaccuracies, improving the accuracy of automatic replenishment. It also helps retailers identify inventory gaps and their impacts on the business. It’s a powerful way to leverage modern AI and machine learning in the retail supply chain. We’ve got an entire webinar coming up about this - in the meantime read all about it, and sign up for the webinar, here: #machinelearning #ai #retail #futureofretail
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Discover a game-changing AI strategy to slash your inventory costs and steer clear of those dreaded out-of-stock moments. It's like having a savvy sidekick that predicts your inventory needs with precision. Say goodbye to the guessing game and hello to a smarter, cost-effective way of managing your stock! Learn more: https://bit.ly/3teggEN #reducinginventory #retailai #retail
Algonomy
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"The application of AI to inventory management holds great promise," says Mark Ryski, Author, CEO & Founder of HeadCount Corporation. "However, it’s not magic. AI is driven by the quality and type of underlying data, as well as the assumptions used to weight any given factor. For example, how should weather influence inventory vs. social media input? The answer, it depends. Getting product mix right and minimizing excess inventory remains an ongoing challenge and while AI tools and models will help refine and improve inventory management, nothing is completely fool proof. As for “endless aisle” – I doubt that consumers think about it. Consumers want what they want…they want their own aisle." Check out more insights from one of the retail industry’s leading experts - https://buff.ly/3qRfPx2. More great comments on this topic by RetailWire's BrainTrust experts including: Neil Saunders, Gene Detroyer, Oliver Guy 🚀, Ananda Chakravarty, Nikki Baird, Jeff Sward, Brandon Rael, Bob Amster, Gary Sankary, Janet Dorenkott, David Biernbaum, Anil Patel, Scott Benedict, Mark Self, James Tenser, and Trevor Sumner.
How Will AI-Driven Inventory Management Revolutionize Retail in 2024? - RetailWire
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Unlock the Power of AI in Retail Inventory Management! 🛍️ Discover how Artificial Intelligence revolutionizes retail inventory management, ensuring shelves are stocked, sales are maximized, and customers leave happy. AI analyzes data to predict demand, optimize stock levels, and prevent waste. With real-world applications like customer traffic analysis, demand forecasting, and warehouse optimization, AI empowers retailers to thrive in today's dynamic market. 🌟🚀 To learn more, check out our blog on AI for Smarter Retail Inventory Management by Abirami Vina ➡️ https://ow.ly/QYP950QH479 #AI #Retail #InventoryManagement #yolov8
AI for Smarter Retail Inventory Management by Abirami Vina
ultralytics.com
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Supply Chain Consultant @ RELEX Solutions | Retail Technology Consultant & Sales Growth
BLOG ALERT !! : Ever wonder how to nail down the perfect pricing strategy in today's fast-paced retail world? RELEX Solutions’ report, “Precision Pricing in Retail: AI-Driven Pricing Decisions for 2024 and Beyond,” written in collaboration with Coresight Research, has all the answers. Let's dive in together and revolutionize the way we approach pricing! #RetailInsights #AI #SupplyChain #BLOGwithRELEX
Retail pricing precision: AI-driven solutions for 2024 and beyond
https://www.relexsolutions.com
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Ever wonder how to nail down the perfect pricing strategy in today's fast-paced retail world? RELEX Solutions’ report, “Precision Pricing in Retail: AI-Driven Pricing Decisions for 2024 and Beyond,” written in collaboration with Coresight Research, has all the answers. Let's dive in together and revolutionize the way we approach pricing! #RetailInsights #AI #SupplyChain
Retail pricing precision: AI-driven solutions for 2024 and beyond
https://www.relexsolutions.com
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Ever wonder how to nail down the perfect pricing strategy in today's fast-paced retail world? RELEX Solutions’ report, “Precision Pricing in Retail: AI-Driven Pricing Decisions for 2024 and Beyond,” written in collaboration with Coresight Research, has all the answers. Let's dive in together and revolutionize the way we approach pricing! #RetailInsights #AI #SupplyChain
Retail pricing precision: AI-driven solutions for 2024 and beyond
https://www.relexsolutions.com
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Ever wonder how to nail down the perfect pricing strategy in today's fast-paced retail world? RELEX Solutions’ report, “Precision Pricing in Retail: AI-Driven Pricing Decisions for 2024 and Beyond,” written in collaboration with Coresight Research, has all the answers. Let's dive in together and revolutionize the way we approach pricing! #RetailInsights #AI #SupplyChain
Retail pricing precision: AI-driven solutions for 2024 and beyond
https://www.relexsolutions.com
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Ever wonder how to nail down the perfect pricing strategy in today's fast-paced retail world? RELEX Solutions’ report, “Precision Pricing in Retail: AI-Driven Pricing Decisions for 2024 and Beyond,” written in collaboration with Coresight Research, has all the answers. Let's dive in together and revolutionize the way we approach pricing! #RetailInsights #AI #SupplyChain
Retail pricing precision: AI-driven solutions for 2024 and beyond
https://www.relexsolutions.com
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Ever wonder how to nail down the perfect pricing strategy in today's fast-paced retail world? RELEX Solutions’ report, “Precision Pricing in Retail: AI-Driven Pricing Decisions for 2024 and Beyond,” written in collaboration with Coresight Research, has all the answers. Let's dive in together and revolutionize the way we approach pricing! #RetailInsights #AI #SupplyChain
Retail pricing precision: AI-driven solutions for 2024 and beyond
https://www.relexsolutions.com
Managing Director, Global Operations at Traxys
5moLooking forward to this!