A McKinsey & Company study shows that retailers using assortment optimization can boost sales by up to 20% and reduce out-of-stock items by 10%. The conventional approach to optimization is complex and time-consuming, requiring a delicate balance oftentimes sacrificing some stores' profits for the greater good.

SKU rationalization removes or consolidates "stock-keeping units" (SKUs) from the supply chain. The challenge here is that many different variables, datasets, and constraints make this task very complex and time-consuming.  This is how AI can accelerate the benefits of SKU rationalization.

6 Benefits Businesses Can Get from SKU Rationalization & How AI Can Accelerate them

How AI will enable rapid decision-making in a highly volatile and complex world through demand sensing.

Demand Sensing: The New Era of Retail Demand Planning

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services and events for the information technology, telecommunications and consumer technology markets.

IDC’s respected InfoBriefs series examines how the latest disruptive technologies are fueling revolutions in specific industries.

With 65% of retailers now saying AI is essential for merchandise analytics and 54% of them citing that improving ecosystem collaboration with suppliers is a top priority, IDC is seeing the emergence of Next Generations (“Next-Gen”) merchandising solutions.

Next-Gen Merchandising Solutions: New approaches to meet the coming challenges of retail

IDC Research: Next-Gen Merchandising Solutions: New approaches to meet the coming challenges of retail

Grocery stores and retail chains now have the power to leverage AI to make assortment planning more dynamic and responsive and automate planogram creation. Here’s how.

Assortment strategies that generate smarter planograms with few resources

Did you know that around 90 percent of organizations fail to execute their strategies effectively and reap their full benefits?

In many ways, the retail industry is changing faster than ever before. Because of this, it can be a challenge to keep up with things like shopper insights, demand changes, market shocks (i.e., supply chain issues, COVID-19), new merchandising constraints, and changes to business targets on revenue and volume. However, new technologies are emerging that have the potential to revolutionize the way retailers operate. This guide will explore how AI can deliver operational efficiency and collaborative power decision-making. But before we go on, we have an example of a recent client project to share with you.

Guide - Enabling Retail Space Planning With AI

One of the biggest value drivers for retailers is rapidly deciding and delivering store-specific SKU selection, space allocation, and planograms at scale. However, the industry continues to struggle with harnessing diverse datasets and AI-driven analytics to unlock this opportunity.  Today's retailers have a tremendous opportunity to create a competitive advantage by delivering locally relevant and effectively merchandised shelves with new AI approaches with simple interfaces. Fueling improved financial performance while simultaneously driving significant internal operational efficiencies.  

Join Scott Anderson, Chief Revenue Officer, along with Dirk Herdes, VP of Retail, at HIVERY, along with Lynn Petrak,the Senior Editor at Progressive Grocer walkthrough:

How grocers can quantify the financial outcome of any assortment decisions and rapidly execute the best merchandising strategy at the store-level.

Why merchandising teams, category management, and shopper insight professionals no longer need to rely on data science teams to deliver optimal store-specific SKU selections and planograms?

Real examples of hyper-local retail strategies simulated by new approaches AI to support rapid merchandising decisions and execution.

Podcast: Simulating Merchandising Decisions with AI - Deliver Relevant, Store-Specific SKU Selections with Progressive Grocer

Grocery giants are increasingly using artificial intelligence to help run their stores.

HIVERY mentioned in the Washington Post article focused on how grocery giants are increasingly using artificial intelligence to help run their stores

Retailers today believe for shelves to be locally relevant, effectively merchandised, and operationally efficient, the need to augment their efforts with AI and have a more rapid and dynamic approach to space and assortment management is critical.

Webinar: Enabling Retail Space Management With AI - Use cases that will transform planogramming and store planning

HIVERY has appointed Ian Goodwin as its new Chief Product Officer, continuing the company’s growing momentum as a pioneer of next-generation hyper-local retail assortment strategy simulation & optimization solutions.

HIVERY appoints Ian Goodwin, former Nike, Staples, and Fabric product executive, as Chief Product Officer

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At HIVERY, we love sharing our knowledge with our readers. View our range of reports.

At HIVERY, we love sharing our knowledge with our readers. View our range of reports on assortment strategy and category planning

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