Retail assortment management applications (RAMAs) are a foundational component of modern category management solutions for long life cycle products. Using data & analytics and AI technology, RAMAs can curate targeted assortments to create compelling customer experiences, leading to an increase in sales conversion. Long life cycle products in retail include categories such as grocery, consumables and hard goods. The long life cycle retailers’ traditionally broad approach to assortments is not satisfying customers’ demands for more curated assortments to match their lifestyles. Local trends mean that even more granular store-specific assortments are necessary. Advanced analytics, algorithms, AI and automation will play pivotal roles in driving this transformation through better customer understanding and alignment.
Gartner defines supply chain planning (SCP) solutions as platforms that provide technological support to help companies manage, link, align and share planning data across an extended supply chain. SCP solutions support a wide range of planning activities, from demand planning and detailed supply planning, to strategic and execution-level planning. They establish a single version of the truth for planning data and decisions, regardless of the underlying execution technology environment.
Gartner defines unified commerce platforms anchored by point of sale (POS) for Tier 1 retailers as composable, experience-led central hubs that leverage real-time data exchange, event-driven MACH (microservices, API-first, cloud-native SaaS, and headless) architecture, and edge computing services to deliver scalable and seamless customer experiences in and across all retail touchpoints. Tier 1 retailers operate many channels, including a significant portfolio of stores, and generate annual retail revenue of at least $3 billion.