We are delighted to announce that our Replenishment Optimization solution has been shortlisted for the Disruptor of the Year award at the Retail Week Supply Chain Awards 2016.
A brand new category for this year, the Disruptor of the Year class recognizes supply chain technology that is making waves in retail, transforming today’s highly competitive, consumer-driven retail market.
We automate replenishment decisions in the supply chain daily for our customers, most of them mission-critical, typically raising KPIs like profit and revenue by 15 percent and reducing out-of-stock situations by 80 percent. We deliver these decisions to many of the largest and most influential European retail brands in grocery, fashion and commerce such as OTTO, Natsu and Kaiser’s Tengelmann.
Our Replenishment Optimization solution uses advanced machine learning algorithms to enable our retail customers to increase availability while reducing stock levels, handling costs and waste. This in turn delivers profitability and allows retailers to match their brand promises to customers, converting their omnichannel investment into a sustainable retail business.
Uniquely and importantly, it also allows retailers to manage their high-level KPIs top-down,automatically breaking them into thousands of individual KPI-based replenishment decisions supporting the strategic direction of the business and delivering competitive advantages by improving one business goal without the tradeoff on another.
The digital world has put unprecedented pressure on retailers to meet customer expectations and deliver an omnichannel offering where shoppers can get any product, on any platform, at any time and delivered in a variety of ways. While many retailers claim to do this, the reality is somewhat different. Investment has been made into the customer-facing, front-end systems, but it has not yet been matched in the supply-chain. This leaves retailers vulnerable, as decision-making in the supply chain cannot keep pace with the speed of the customer.
Retailers have a great deal of data at their fingertips, from internal data such as past sales data, to external data on holidays, weather and trends. Our disruptive advanced machine learning algorithms capitalize on this data to predict and automate the millions of decisions per day that simply cannot be managed manually in the supply chain. We will find out if we win at an award ceremony in London at Hilton Park Lane on 29th September. We are looking forward to meeting some of the other fantastic nominees like ASDA, Hubbub and O2 to name a few.
Thank you to Retail Week for shortlisting us. We’re keeping everything crossed for the big day!