Retailers know firsthand how quickly the market can change. One day, a product is flying off the shelves, and the next, it’s gathering dust. That’s why staying on top of the latest supply chain planning trends is so important – they can make all the difference when it comes to staying competitive, reducing costs, and […]
On average, we humans generate 2.5 quintillion bytes of data every day. For companies that want to go beyond the traditional spreadsheet, which cannot handle this ocean of information efficiently, statistical methods such as cluster analysis can help. What is Cluster Analysis? Cluster analysis is a statistical umbrella term for methods that classify data points […]
“May you live in interesting times,” widely attributed as a Chinese curse, some claim this as a blessing; whichever side you take, this is exactly what’s happening in the supply chain world since 2020, and it looks like we will be living with this blessing/curse for a while longer. Our lives became more interesting with […]
I recently changed continents and realized that my favorite hair styler wouldn’t work in the U.S., so I went online to order it. It is one of those high-end brands with global recognition, and to my surprise, the manufacturer’s own website did not have any stock and no indication on when it would be available. […]
Remember those times when we used to stroll down the block and find local stores such as the mom-and-pop diners and get the chance to relish the coziness and sense of family environment there. Even mom-and-pop stores and diners had to step up their digitalization game with the pandemic erupting. Being listed on a last-mile-delivery […]
Companies like Amazon, Walmart, Alibaba, and Zara are leading the path in the use of technology and advanced analytics in managing supply chains. Artificial Intelligence (AI) and Machine Learning (ML) are of the hot topics being discussed in the retail world. Across the globe, whether they are grocery, mass merchant, or fashion, retailers are looking […]
In today’s changing market dynamics, the retail business is getting more competitive by the day. Increasing competition by online marketplaces, along with evolving consumer expectations and shopping patterns are making the category management decisions more complex. As customers’ options increase, so do their expectations. Assortment planning decisions made by these teams need to be more dynamic and localized as manual analysis based on broad assumptions and averages do not suffice anymore. Here are the vital capabilities for surviving in the new world of retail.
What is Digital Transformation? A digital transformation requires that companies transform their decision-making processes with technology to enhance customer experience and employee productivity and ultimately improve business performance. Technologies such as artificial intelligence, machine learning, Internet of Things, and virtual reality can aid in this transformation. Digital transformation implies shifting the way organizations interact with […]