Winning Strategies to Optimally Stock the Food Retailer’s Basket
The Food Retailers’ Predicament: Accurate Demand Planning & Forecasting
Poor forecasts can lead to unexpected stock outs which eventually results in lost sales opportunities. Since customers expect stores to have a consistent stock and availability of essential supplies, stockouts can reduce customer footfalls and loss to the competition. Similar overstocking can engage valuable capital in inventory, leading wastage, markdowns etc, to get rid of old stocks. Food Retailers could find it difficult to strike the right balance for increasing profit margins.
In this e-book, we discuss how by adopting Artificial Intelligence and Machine Learning driven rapid response demand sensing, forecasting and replenishment solutions, food retailers, demand planners and supply chain managers can easily mitigate the several risks associated with it.