The digital revolution offers many opportunities for retailers.
Big Data, dematerialization, the internet of things, and new technologies of the like are vital in revolutionizing customer experience and paving the way for innovative business models.
Challenged by competition of multiple forms (pure player, globalized deliveries, etc.) and customer demands (more choices, quicker, less expensive), retail firms must constantly adapt or else they will disappear. To adapt, an efficient supply chain is a key component.
Machine Learning constantly adapts to new constraints in an automated manner. These changes could include: new retail channels, new products, network logistic modifications, etc.
Algorithms will be able to generate a forecast in a matter of days. The forecast can also anticipate customer behaviours so that the products are in the right place at the right time.