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In a volatile environment with evolving customer demands, retailers must react quickly and tailor store space to support consumers' changing needs. This need for inventory flexibility makes automation and data key to the creation of an intelligent and adaptable store.
In this webinar, RELEX experts Greg Wilson and Steve Boon discuss how retailers are using automated, AI-driven space planning to drive improvements across supply chain and space management and get ahead in this ever-changing environment.
The pair explain how supply chain data can be an asset to efficient and cost-effective space optimization. “Instead of having a disconnect from space, supply chain can start to understand the actual space that exists within the store and how much space is allocated to each category,” Boon explains, demonstrating the efficiencies of combining space management and supply chain data. “This means when we’re actually creating those projections and making deliveries to the store, we are completely aware of the space that exists, so we can make that a really efficient process of products fitting directly on to the shelves.”
The presenters also discuss how the adaptable store can use the benefits of data and AI on a store level. In situations where a store cannot comply with a proposed planogram, “the cause of that can be communicated back and considered in future iterations,” explains Greg Wilson. “It enables us to be more agile at adapting to changes like what we’re seeing right now [with the COVID-19 pandemic] … There’s an old adage that the only constant in retail is change, and I think that’s probably more true now than it’s ever been.”
With 15 years of first-hand retail experience and having held leadership positions for a variety of solution providers, Greg oversees Field Strategy, understanding the needs and areas of opportunity for companies in our market and aligning them with our software capabilities to achieve the highest returns as quickly as possible.
Steve Boon is a VP of Field Presales in the area of category management and has worked globally with hundreds of tier one retailers. Steve has been with RELEX for over 15 years with over 20 years of industry experience.
Kristiina is a part of the RELEX product marketing team with expertise in Space & Assortment.