Managing Through Disruptive Times With Data Driven Speed And Adaptability
Survey-Based Research Study | 2021
“Can retailers meet consumer demands for more localized and relevant assortments in the store and still achieve economies of scale?”
In late 2020/early 2021, Retail Systems Research (RSR) surveyed 160 retailers around the world ranging in revenue from less than $50 million to over $5 billion. Out of all the respondents, 72% were identified as “Retail Winners,” or retailers with better than average performance.
In their 2021 report (sponsored by RELEX), RSR shares how these retail winners are successfully addressing critical supply chain management challenges and benefiting from improved short and long-term forecast accuracy, improved store and DC-level capacity planning, and automated and optimized markdown recommendations. The report also discusses opportunities for all retailers to increase profitability and customer satisfaction through “smart localization” using insights gained from AI.
Download the report summary to read more.
Key findings include:
Retailers must resist the temptation to think of 2020 as an anomaly, double their efforts on inventory visibility, and embrace the role of AI.
56%of respondents highlight “fulfilling growing online demand” as their top challenge over the past 12 months.
76% of retail winners see a strong opportunity for strategic placement of inventory throughout the supply chain to better fulfill customer needs.
61% of retail winners see a need for optimized omnichannel order fulfillment to improve profitability.
RELEX Solutions is dedicated to helping retail businesses become more competitive through accurate forecasting and replenishment, profitable use of retail space, impactful pricing and promotions, and optimized workforce planning. We bring data science to the art of retailing through our industry expertise, leading-edge AI, in-memory data processing and computational power.