Kinaxis, the leading platform for supply chain management, releases multiple new innovations powered by AI and machine learning, announced that it will expand its retail services . This innovation provides retailers with end-to-end supply chain transparency, demand forecasting, and powerful simulation scenario planning capabilities to ensure customers get the products they want without suffering from unexpected disruptions. It allows you to purchase when and where you want.
The retail industry is more competitive than ever, with changing consumer habits leading to an unpredictable surge in demand and the rise of omnichannel commerce, which provides a seamless shopping experience across multiple touchpoints. It’s intensifying. Retailers’ supply chains face numerous challenges that make it difficult to keep customers happy and profitable.
Retailers are required to make unparalleled decisions about countless locations, SKUs, promotions, inventory changes, and more. To help manage these complexities, Kinaxis offers simplified, high-quality retail services, including:
- Innovation with Demand.AI – Powerful machine learning models tailored to the size and complexity of retailers to understand internal factors (frequency of price changes, new product introductions, changes in promotional plans, etc.) and external factors (social sentiment, etc.) , weather, changes in consumer behavior, local or national events, etc.) can both impact product demand in the short and long term. This allows you to take action to maximize profit opportunities and eliminate risks before they occur.
- Inventory Replenishment Planning – An all-new feature that allows retailers to better manage inventory replenishment quantities across the supply chain and ensure all stores and distribution centers are restocked in a timely manner. We have also put in place guardrails to ensure that we do not ship excess inventory to stores, increasing inventory holding costs for stores.
- Demand Planning Innovations – Provide retailers with easy-to-understand visual information about demand patterns. It also enables you to quickly adjust forecasts based on insights about trends across your supply chain, including products, regions, stores, SKUs, and dates.
“Consumer expectations continue to rise, and retailers desperately need solutions that enable them to make supply chain decisions at scale and with confidence,” said Kinaxis Chief Product Officer . said Andrew Bell, CPO.“These latest innovations enable businesses to take the guesswork out of demand forecasting and replenishment planning, creating seamless and resilient end-to-end supply chains. We are confident that as retailers prepare for additional allocation investments, they will continue to rely on Kinaxis to ensure they have sufficient inventory and provide the best products to their customers.”
With new retail-focused product innovations, Kinaxis is expanding its industry position with new customers like sporting goods giant Brooks Running and existing partners like HAVI, the world’s leading expert in supply chain integration. I believe that it is possible to increase Last year, Kinaxis and HAVI announced a partnership to bring innovation and transformation to the quick-service restaurant industry .
“In an environment where the speed of business is increasing and consumer behavior is changing, companies can no longer rely on incremental improvements in their supply chains. “We are very pleased to partner with Kinaxis, which has a strong track record of success,” said Rodney Brown, senior vice president and chief supply chain officer (CSCO) of HAVI’s North American and global planning and analytics division. says Mr. “We’re looking forward to rolling out these cutting-edge capabilities to some of our largest customers, and we’re confident they’ll quickly see the value it brings to their overall business.”
SOURCE : BusinessWire