The way customers shop keeps evolving, thereby bringing in deep insights to their buying patterns and preferences. This change in customer shopping behavior encourages retailers to transform the way they carry out their business. Retailers need to begin obsessing over trends and technologies impacting the shopping experience in order to stay competitive. The pandemic has accelerated digital transformation therefore, more retailers and consumer goods organizations are turning to Big Data to improve service, implement smart automation, digitize workflows and get a better return on investment (ROI).
Retailers and CPG companies have a great opportunity to leverage AI whether it's predicting stock-outs, optimizing demand planning and replenishment and re-inventing recommendations and customer service!
Kloud9 is one of the pioneers in enabling retailers on their e-commerce journey since the late 1990s and 2000s. Today, huge data is generated from omnichannel commerce and other sources and the Kloud9 team is all set to enable the Retail and Consumer Goods industries with Data+AI/ML solutions. These innovative solutions will help businesses transform into Intelligent enterprises.
Supply Chain Planning
Demand Forecasting
Customer Intelligence
Marketing, Advertising and Campaign Management
Marketing, Advertising and Campaign Management
Marketing, Advertising and Campaign Management
Product Design and Development
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Manufacturing
Demand Forecasting
Customer Intelligence
Supply Chain Planning
Production Planning
Image Source: The coming AI revolution in retail and consumer products – IBM
Kloud9 helps Retailers build an ecosystem using Data Engineering, Data Science, Artificial Intelligence, Machine Learning and Cloud. We provide a full suite of Cloud services along with Data Science & AI capabilities. Enterprise clients depend on us for customized Cloud Application Migration and Managed Services to accelerate their performance. As trusted digital advisors in Cognitive Transformation, we are determined to build deep partnerships along the way to deliver seamless end-to-end experiences.
Continuous innovation in Retail & Consumer technology has been our core. Our implementation projects have included process design work, custom enhancements, integration with automation systems and multiple successful infrastructure migrations. Retailers and Consumer Goods companies have leveraged Kloud9 technologies like Data + AI/ML over the past decade that has enabled them to stay abreast with market trends, understand consumer preferences and shopping behaviors, design products, provide value-added services and engage consumers in new and improved ways.
Our Innovation Lab in Kraków, Poland leverages Big Data and AI/ML to develop sophisticated self-learning algorithms for delivering tasks autonomously, price optimization, customer sentiment analysis, network anomaly detection and maintaining cost control of the supply chain of some of North America’s largest Retailers.
ML solutions can be applied by leveraging historical and real-time data to find the pattern and identify which inputs correlate with the store fulfilment rate, calculate the probability of an item being in demand and successfully picked at a given store during a specific point in time. This predicts the optimal inventory levels to make available for purchase by channel & then presents recommendations to the target systems – such as OMS.
ML solutions help to plan an intricate schedule that takes into consideration the individual skill sets of the drivers and delivery associates, vehicle types and capacity, customer-specific pickup and delivery time, and local traffic conditions, to assign the perfect schedule to each trip which would result in on-time deliveries.
Due to Covid, more and more retailers are continuing to adapt curbside pickup with Buy Online, Pickup from Store (BOPIS) orders to support social distancing norms. Fraudsters are likely to exploit BOPIS pickups where retailers may not require anything more than a minimal proof of purchase. ML solutions can identify such anomaly behaviors by looking at the customer’s patterns including previous purchases, on-site interactions, and links across other orders, and prevent fraud before the order is placed.
Leverage ML to predict the baseline forecast and demand profile during initial launch period.
Plan and execute promotions at a particular time period, predict ROI that can be realized for every upcoming sales promotion and predict the amount of product stockage based on the ongoing sales promotions.
Determine and deliver optimized inventory levels for key accounts by combining internal data (ex: store data) with external sources to drive revenue. Predict shelf-life of products based on color or appearance, predict stockpiles and re stocking orders based on marketing campaigns and sales promotions.
Use online, current and past data to optimize the assortment and size curve of the product portfolio and enable event-based recommendations.
Understand key procurement incentives (speed, reliability, price) in order to select, negotiate and order from the most efficient supplier.
Analyze customer data pertaining to the brand, products, competition and potential needs across different channels such as online, offline, social etc.
Retail and Consumer Goods companies have entered the digital and analytics race, and Kloud9 is enabling them to scale impact with our Cognitive Transformation services and solutions.
Kloud9 provides retailers and consumer goods companies with tremendous potential for transformational growth. Our AI/ML and Cloud experts assist customers in unlocking the value of their data in new ways and accelerate their technology journey.
Kloud9 has also partnered with RELEX to work together to drive real benefits for Retailers all over the world with the RELEX Living Retail Platform. This cloud-native platform is powered with AI and ML, eradicating siloes, rigidities and inefficiencies along the way and enabling Retailers to make autonomous planning decisions. Kloud9 and RELEX work together from a customer-first mindset with a commitment to delivering measurable results.
Data + AI/ML can transform every aspect of Retail businesses and can help your organization do just that! To know more about how Kloud9 provides the best way to scope, scale, and lead Cognitive Transformation that can deliver financial results, contact us.
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