As retailers start building transition plans to get back to the “new normal,” the challenges of ensuring optimal on shelf availability in your day-to-day operations are abundant. Planogram compliance is typically less than 50% making it difficult to know where inventory is. Typical out of stock rate is 8 to 15% and 8% of online orders are cancelled due to an inability to find inventory that exists in the store. These pain points are made worse during times of disruption.
With state-of-the-art capabilities in artificial intelligence, operations managers can now evaluate more information at once, thereby improving the quality of their decisions and allowing them to prioritize more elegantly in real time. AI is the driving force behind improving assortments and planogram creation to increase on-shelf availability and sales, detect and prevent out of stocks to increase sales, and dramatically improve the customer experience. So, how do you get there?
Together, we’ll explore the pandemic and its disruption, managing OOS rates and shelf health as well as building more resilient forecasts and assortment plans while creating a digital feedback loop between stores and corporate.