Maximizing Efficiency in Retail with Process Automation
A Statista report shows that global retail automation will reach a market size of 26 billion dollars by 2028. This expected growth shows the importance of a technology solution that helps automate and streamline repetitive tasks.
To improve demand planning, replenishment planning uses advanced algorithms and analytics to gather and sort data from various sources, such as sales history, market trends, and external data. It also authorizes simulation of the impact of different scenarios on the supply chain and helps make the most suitable adjustments.
It is a challenging process, as retailers need to consider factors such as market trends, customer preferences, and competition. Deeply understanding customer behavior and preferences is a significant part of a retailer’s job, and assortment planning is here to the rescue. Process automation can come in handy. By implementing an assortment planning solution, retailers can ensure they offer the right products at the right time, leading to increased sales and stronger customer loyalty.
Promotion management and optimization
Retailers can ensure that their promotions are targeted and effective, leading to increased sales and customer engagement. The software uses advanced algorithms and analytics to analyze data from various sources, such as sales history, market trends, and customer preferences, to create targeted and effective promotions. It also allows retailers to set up different promotion hierarchies and assign promotions to various groups, such as product lines, regions, or channels.
Beyond driving sales, promotion management and optimization will lead to achieving the company’s goals. It allows retailers to optimize their promotions by considering budget constraints, objectives, and customer preferences
Assortment planning mainly focuses on ensuring the right products are offered to the right customers. In contrast, replenishment planning is focused on providing the right amount of products available at the right time. Promotion management, on the other hand, is focused on driving sales and increasing brand awareness through the creation and execution of promotional campaigns.
They all work together to optimize the supply chain process and improve the overall efficiency of retail operations. Process automation saved hours of work.
SAP Customer Activity Repository has become the industry standard for managing critical company processes. SAP CAR is a data management and analytics solution. It is a powerful application bundle for retailers to optimize their operations and improve their bottom line. Replenishment planning, assortment planning, promotion management, and optimization have a unified view in the SAP CAR bundle which makes their management effortless.
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