Innovating Category Management: Assortment as a Service Now
The assortment process in retail, defined as a key component of category management more than 30 years ago, is facing challenges from the influx of technologies, data, and the omnichannel landscape.
Due to these challenges, the article suggests that many available assortment solutions are obsolete or less effective. To address this, a new way of thinking is needed. The article discusses the evolution of assortment management solutions in the industry, including established leaders and promising newcomers like HIVERY, which contributes to the "Assortment as Service". The article emphasizes that a moonshot approach is needed to build a true assortment optimization solution that requires a selfless collaborative effort to bring traditional and nontraditional data to an easily accessible platform, leveraging AI and machine learning. The article concludes that the ingredients and talent are available for a viable solution. Still, collaborative leadership is lacking, and it will be interesting to see which solution providers rise to the challenge. Read Further.
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