Accurately anticipating the future is always more effective than going in without a place and experiencing loss. This is true in most cases, especially when it comes to supply chain or distribution. Products cannot be instantly teleported and in fact, there are extensive inventory costs and shortage penalizes sales.
Olivier Founding manager of the Retail sector at Capgemini Consulting believes that distributors will have to face 5 major challenges. Moreover, according to him, the traditional signs will have to review and rethink their missions and reinject the content in the relationship with the customer, using digital tools for example.
The objective of a Supply Chain is ensure right stock is in the right place at the right time at the best cost throughout the process.
Sales forecasting is essential for Supply Chain stock optimization and inventory flows management. Although a simple concept, sales forecasting is misunderstood by many.
When we talk about Big Data in Retail, we usually think of collecting sales data to gain a better knowledge of consumer buying behaviours. resulting adaptations linked to the supply chain (products, suppliers, outlets).
In a time of increasing pressure on selling prices induced by the digitization of trade, retailers will seek to increase their turnover and margin in new areas of mass consumption.
With a design based on advanced automatic calculations, Machine Learning has become a fundamental tool for companies using Big Data in their decision-making processes.
In order to be sustainable in the market and pursue continuous growth, companies must look for innovative solutions and implement them in a quick wins fashion.