Most retail businesses must have encountered problems of not making enough money and sales. We are all aware that these are because of businesses being unable to satisfy consumers’ needs; getting the wrong product assortment, being unable to forecast customers’ demands, mismanaging inventory.
These factors can lead to the worst nightmare that not a single business would afford to face.
Operation Intelligence solutions are a perfect pain reliever. We adopt smart and reliable AI to several sections of the retail business operation processes; AI Assortment to find the right product mix, demand forecasting solution to meet customers’ needs, and Inventory Optimization, along with AI Ordering, to maximize stock management.
Are you curious about how we can help? Can we really drive business growth and maximize sales? Read more to find out yourself.
Finding the right product for each customer with an AI Assortment
To select the right product type with beloved brands, and to make a cost-effective selection determine whether businesses will make it or break it. It is necessary to observe every customers’ behavior and catch up on trends in social media to truly know customers’ preferences and needs. But with hundreds of customers entering a store daily and trillion gigabytes of data created and transferred over the internet each day, we as human beings can’t catch all of this accurately. Effective and reliable tools are urgently needed here.
This is how an AI Assortment from Sertis can help relieve your business pain.
Customized product mix for each store based on target customers, environment, and trends are important for boosting sales. Sertis AI Assortment collects data from every customer’s records and analyzes it with trends and environment to generate the most effective product mix that can boost sales in the long term, with a proven sales increase of 300–1,000 units weekly.
Random guessing is outdated. Data for demand forecasting is what’s needed.
Random guessing is like wandering in the woods and wasting time walking on the wrong path. In a retail business, apart from the right product mix, sometimes we have to move faster and get ahead of our customers by forecasting their needs. If we can offer the product that customers will need based on their historical records and trends in advance, even when they have not realized yet, this guarantees that our sales will soar.
What can Sertis demand forecasting do?
Human capability may not be enough for precise forecasting anymore. Here, we utilize AI to do the job. We can surely rely on AI when it comes to processing a vast amount of data. We will gather customers’ records and preferred promotions to predict which product should be promoted with which campaign. To offer the right product with the right promotion at the right time is the key to the sales increase.
According to the figure above, Sertis’ AI Demand Forecasting has been proven that its prediction is so close to the actual sales.
Why suffer inventory write-off when there is inventory optimization and AI Ordering solution to help?
Calculating an inventory order can be complicated. You have to be careful not to order too little to cause out-of-stocks and too many to cause write-offs. Especially fresh-food retailing, write-offs can lead to a huge loss. Inventory management and ordering can be challenging. We need to calculate the precise ETA (An estimated time of arrival) and prepare time slots for unexpected situations such as delay or resource scarcity. One little mistake in inventory management may result in various undesirable consequences.
Sertis’ solutions can be a pain reliever for inventory issues.
We deploy our Inventory Optimization solution to process real-time data for stock calculating, determine the optimal stock level for each store SKUs (Stock keeping unit), and provide users with a master report. We also incorporate an AI ordering solution to calculate the ordering quantity for each SKU. No more suffering from reports and calculations. Our solution was proved to reduce out-of-stocks by 75 percent, reduce write-offs by 10 percent, and increase sales by 10 percent.
Why should you consider Sertis AI solutions?
- Accuracy — Sertis strives to develop the best AI solution by exploring various approaches and tailoring the solution to each client’s unique business challenges in order to find the best pain reliever for clients in every industry.
- Self-learning — AI models used for operation intelligence solutions automatically learn from new data and adapt to new situations, without any bias that is generic for human beings. In other words, they can learn just like us but, unlike us, they have no bias, which makes them our best assistants.
- Granular-level analysis — Our AI model analyzes and forecasts at the granular level being as detailed as the data is available. We will get in-depth results covering every single factor counted.
- Time and cost-efficiency — AI and automation are prominent for saving time and resources. They help free up personnel from these manual routine tasks and spare more of their time for value-added tasks.
If you are interested in joining forces with us to customize solutions tailored to your business needs, learn more about Sertis: https://www.sertiscorp.com/services
Written by: Sertis
Originally published at https://www.sertiscorp.com/
