As businesses seek to modernize their supply chains, they should start their transformation by establishing an end-to-end digital vision that taps into emerging technologies like automation, machine learning and advanced modeling.
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Dick’s Sporting Goods is leveraging its store investments to communicate product demand levels with suppliers in a new way, as well as investing in machine learning models to predict store sales down to the SKU level.
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.
A collection of news, articles and other featured content about Machine Learning.