Retail

Retail supply chain software for enhanced supply chain efficiency, encompassing warehouse & transportation solutions, inventory control, and strategic/planning modules.

AI-powered merchandise management software more effective in combating out-of-stocks

10-Aug-2017
AI-powered merchandise management software more effective in combating out-of-stocks
Specialist retail software provider, Detego, has successfully eliminated over three million stock shortages during various pilots and ongoing retailer projects after using merchandise management software powered by artificial intelligence to help combat perilous out-of-stock situations.

Thanks to tiny radio-frequency identity (RFID) tags attached to every item and the real-time monitoring of articles from warehouse to store using connected devices, Detego is trying to make sure that missing sizes and gaps on the shelves are no longer such an issue and headache for retailers. Projects have shown high article availability and near hundred percent inventory accuracy when using IoT technology and the AI-powered Detego suite, compared to an industry average of around seventy percent in most fashion retailers’ businesses.

The AI software is also being used to analyse vast amounts of data and uses machine-learning to better understand the behaviour of several million consumers, deriving insights and actionable recommendations for retailers, it said.

Analysis shows that the vast majority of shoppers today still favour visiting a store. This trend is particularly strong in fashion, although a growing proportion are switching to other omni-channel options, including shopping online, via smartphones, or click-and-collect from nearby stores.

“Even with all the advances of the digital age, more than 80 percent of retail sales happen in bricks-and-mortar stores. In the fashion industry, customers still want to walk into shops to see, touch, and try on different outfits. While customer motivations for entering stores are largely the same as they were twenty years ago, their expectations are much higher. Customers who can find anything they want on their smartphones in seconds expect similar instant gratification in stores. They want the items they see online to be available in the store and in their preferred size, style and colour,” said Uwe Hennig, CEO at Detego.

Detego has seen significant growth in omni-channel services this last year, recording over 1.5 million omni-channel transactions through its software suite.

“Omni-channel services like click-and-collect are another important cornerstone for connecting the best of the online world with the benefits of bricks-and-mortar,” said Hennig. “Customers now expect a seamless, unified retail experience across multiple channels: for instance, being able to click on and reserve any items discovered online for trying on in a store the next day.”

itim launches new order management and mobile software for retailers
1 week ago
OmniChannel Thinking is Jeopardising Retail Success
1 month ago
Vida Shoes International, Inc. Streamlines Supply Chain Operations with Infor
1 month ago
Manhattan Associates Predicts 2018 Retail Technology Trends
1 month ago
Solving the Retail and Supply Chain Dilemma
1 month ago
Why an integrated epos is fundamental to retailers today
1 month ago
Infor Launches Networked Order Management
2 months ago
Tyco Retail Solutions helps retailers protect more of what’s in store with over 63 billion items “retail-ready
2 months ago
Khaos Control Cloud launch Magento (M1 & M2) integration for Cloud ERP customers
2 months ago
Prénatal Retail Uses RELEX to Unify the Supply Chains of Three Leading Retail Brands
2 months ago
Alphamega Supermarkets Works to Drive Modernization with Infor and Indigo Software
2 months ago
Germany’s Bünting Group to use RELEX Solutions in Combi, Jibi & Famila Grocery Chains
2 months ago
RELEX Solutions Strengthens Asia Pacific Presence with New Partnership
2 months ago
Blackwell’s boosts book sales with itim’s mobile technology
2 months ago
Immediacy and Visibility
3 months ago
Honeywell's Connected Retail Solution Driving Productivity Gains In Supermarkets
3 months ago
Logility Unveils Advanced Analytics to Boost Retail Performance
3 months ago
Party City Selects the Most Qualified Candidates with Infor
3 months ago
Manhattan Associates Introduces Customer Engagement Solution
3 months ago
EuroCIS 2018: Detego shows digital InStore solutions for the fashion retail industry
3 months ago
RELEX Solutions to Launch Game-Changing Floor Planning Solution at NRF
3 months ago
Plantagen Sows Seeds for Growth with Infor
3 months ago
Ponden Home Selects BluJay Solutions To Power Enhanced E-Commerce Experience
3 months ago
Detego predicts 5 key trends ahead in retail technology
4 months ago
Tyco Retail Solutions wins 2017 Green Supply Chain Award from Supply & Demand Chain Executive
4 months ago
Next Week Set to be Busiest this Year for Home Delivery
4 months ago
Peoplevox e-book offers free guidance to hard-pressed e-commerce retailers
4 months ago
Detego launches new mobile, chatbot and AI solutions for fashion retailers at NRF
4 months ago
Online Retailer Tips for Cyber Monday
4 months ago
Topshop Owner Gets Systems Makeover with Infor
4 months ago
Smyths Toys: at the top of in-store execution
4 months ago
Cleverboxes Automates Drop Ship Process with BluJay’s Commerce
5 months ago
Are retailers really getting the most out of their Store Associates?
5 months ago
Infor Retail Again Named a Leader in 2017 Magic Quadrant for Retail Assortment Management Applications
5 months ago
Indus joins TmaxSoft’s growing roster of ISVs
5 months ago
Hunkemöller Turns to Logility to Support Growing Omni-Channel Business
6 months ago
Infor Reports European Retail Growth
6 months ago
Detego launches new mobile solution for retailers giving fast access to benefits of RFID and the IoT
6 months ago
Serena & Lily Optimizes its Supply Chain Network with Infor
6 months ago
Jargon is Holding UK Businesses Back from New Technology Investment, says Epicor
7 months ago
IBM and SAP to Offer New Co-Created Industry Solution for Retail and Consumer Packaged Goods Industries
7 months ago
Believe the Hype: Blue Yonder Receives Gartner Endorsement
8 months ago
Today’s retail results show online food sales are eating traditional supermarkets’ lunch
8 months ago
OrderWise Launches Brand New Retail Software
8 months ago
Infor and LinkedIn Partner to Help Boost Sales Productivity
8 months ago
Aspect Software launches Aspect Verify™ 17 in the UK
8 months ago
Extreme Sports Retailer Conquers Warehousing Challenges With Snapfulfil
8 months ago
Gattai, Minoli, Agostinelli & Partners advises Aptos, Inc. in TXT Retail’s €85m acquisition
8 months ago
s.Oliver Selects Manhattan Associates to Expedite Order Fulfilment and Digital and Store Customer Experience
9 months ago