Understanding the market trends, customer behavior, sales performance and many such factors are very crucial for retail industries to gain a competitive edge. Integration of Artificial Intelligence in retail processes enables the industry to deepen customer relationships and enhance supply chain processes. From real-time computer vision to applying machine learning for inventory management, companies may employ Artificial Intelligence to engage with their consumers and operate more effectively.
Soothsayer has helped dozens of Fortune 1000 & Midsize companies capture ROI via custom A.I. solutions
- Forecast Demand for Thousands of SKUs at Thousands of Location
- Optimize Inventory/Order Fulfillment at 1,000+ Locations (Ship from Store Optimization)
- Forecast Customer Lifetime Value Multiple Years in the Future
- Identify Opportunities for Cross-Sell & Upsell
- Predict the Optimal Price for Products
- Detect, Classify, and Predict Defects in Products (Computer Vision)
- Identify When Major Customer Life Events Take Place & Send Highly Targeted Ads
Key uses of Artificial Intelligence in Supply Chain & Retail
Soothsayer can help you leverage A.I. to drive more accurate demand forecasting and provide deep insight into the types & characteristics of products that are most popular with your customers. This will help you decrease the impact of holding too much inventory, reduce the number of discounted items, improve your customer loyalty & understanding, and ensure the right inventory is on the right shelves at the right time.
Soothsayer can work with you to model the current topology of your network of stores, manufacturing sites, warehouses, and DCs. We can utilize advanced A.I. techniques to mathematically model your supply chain to optimize for minimum inventory at each location, while ensuring that you still satisfy SLAs.
Artificial Intelligence-driven Segmentation (aka Clustering) allows you to form a much deeper understanding of your customers, products, and processes. Traditional approaches predefine what these groups look like and fit your data to that. With A.I. methods, Soothsayer can ‘regroup’ your data in a much more accurate way – so what you thought was complex, non-linear, and inseparable becomes nice, clean, and highly defined.