When the COVID-19 pandemic hit the world, retail supply chain executives came to the painful realization that traditional forecasting models based on historical sales data were insufficient in predicting sales and demand.
Retail has been disrupted by the move to digital — more so than any other industry. Meanwhile, consumers are becoming more demanding than ever, with competitive pressure intensifying the need to satisfy or exceed customers’ expectations to cultivate their loyalty.
Retailers should take time and invest efforts into getting their systems ready for adoption of the next-gen retail automation and price optimization software. The following steps are turnkey for effective preparation and smooth technology adoption.
Forward-thinking grocers are focusing technology investments on inventory management solutions embedded with artificial intelligence and machine learning capabilities designed to drive demand management decisions.