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7 Reasons Why Custom Demand Forecasting Is Essential for Retail

Xebia

In today’s highly competitive retail landscape, demand forecasting is more critical than ever. Retailers need to predict product demand accurately to avoid stockouts, reduce overstock, and optimize their supply chains. Learn more about our approach in designing custom demand forecasting. 1.

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Freshflow is helping grocery retailers fight food waste

TechCrunch

For years grocery retailers have been using data driven forecasting to help them predict demand to figure out which products to reorder to keep shelves stocked. ” “And because that is the opinion … until now, for the most part, retailers have just relied upon people to do this part.” That’s nothing new.

Retail 219
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Competition is stiff, but retailers know what it takes to compete

CIO

Changing consumer behavior and expectations, competition from major e-retailers, evolving cybersecurity challenges, inflationary pressures, sustainability and environmental concerns, and the pressure to take advantage of AI are all very real concerns for retailers today.

Retail 97
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Shipium gives e-commerce retailers Amazon-like supply chain tech

TechCrunch

In particular, Jason Murray, co-founder and CEO, was with Amazon for nearly 20 years, and during his last decade, was automating and using machine learning around solving for the “Prime problem” as he called it — how to make fast shipping affordable. “It Data modeling is the company’s “secret sauce.”

Retail 204
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Google Cloud for Retailers adds AI-based inventory, e-commerce tools

CIO

In a bid to help retailers transform their in-store, inventory-checking processes and enhance their e-commerce sites, Google on Friday said that it is enhancing Google Cloud for Retailers with a new shelf-checking, AI-based capability, and updating its Discovery AI and Recommendation AI services.

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Particular Audience takes in $7.5M to give retailers way to take on Amazon

TechCrunch

Being in control of customer data is one of the ways retailers, like Amazon, Spotify and Netflix, are able to tap into consumer behavior and create customized experiences whenever a user logs in. Particular Audience provides product discovery tools for retailers that are powered by artificial intelligence and machine learning.

Retail 206
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Lily AI lands new capital to help retailers match customers with products

TechCrunch

During the pandemic, retailers were forced to embrace e-commerce. That’s why Purva Gupta launched Lily AI , an AI-powered platform that connects a retailer’s or brand’s shoppers with products they might be looking to buy. ” Prior to co-launching Lily, Gupta served in various roles at Eko India and UNICEF. .

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