Stockouts - causes and how to avoid them StockOuts and Why It Happens According to wiki, A stockout, or out-of-stock (OOS) event is an event that causes inventory to be exhausted. In layman terms, it means unavailability of the product when customer want to purchase it. Stockout is an opposite of overstock which ...
Retail Stock Management Techniques For New-Age Retailers No business has ever become successful with ineffective retail stock management. Take the biggest of names in the industry and the statement holds true. Walmart lost a whopping $3 billion because its retail stock management went wrong and the most in-demand ...
Retail Analytics Why it is important for retail inventory optimization and more The competition in retail is increasing by the day. No matter which industry you’re in or what products you’re offering, the key to achieving retail success is to become more data-centric. Be it marketing, retail stock management or r...
Best practices of Demand forecasting in retail Best practices for smarter predictions Demand forecasting retail is one of the toughest jobs. One has to look into the existing market data, store performance, marketing performance, the changing patterns of the target market and more to be able to predict consumer beha...
ML in supply chain optimization How ML in supply chain optimization is improving management and efficiency Machine learning is one technology that has revolutionizing industries by helping optimize their day to day processes. One such segment where the technology has made its mark is supply chain optimization and m...
user data platform unifies data from disparate systems to one single repository, which can then provide great value to different teams/functions. The data can broadly originate in transactional systems, customer relationship management systems, customer interaction on the online/offline channels and third-party systems. A UDP not only brings all of this together but correlates and references data from all these systems, hence providing a Single Customer View which records all the user touch points
Unified Data Platform & Amazon personalize It is beyond doubt that Personalization adds real value to the customer engagement, in fact,around 30% page views on Amazon are from recommendations. But the question then is, why doesn’t everyone implement it and more importantly, why is it so hard to achieve good resu...