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IDC PlanScape: Intelligent Retail Assortment Planning

Publisher IDC
Published Dec 08, 2022
Length 10 Pages
SKU # IDC17552449

Description

IDC PlanScape: Intelligent Retail Assortment Planning

This IDC study discusses the importance of intelligent retail assortment planning.Most retailers are merchandisers. Retailers purchase products at cost, mark up their products, or set prices using various tools and sell these at a higher price point on the market. Assortment planning addresses the core problem of selecting products to sell and how to sell them on the market. Basic assortment planning has enabled optimization of product selection based on corporate strategy, historical data, and analytics. "Next-generation merchandising will require intelligent retail assortment planning," says Ananda Chakravarty, research VP, Merchandising and Marketing Analytics, IDC Retail Insights, "Why? Because the parameters of product selection and sales have grown exponentially, making scale, automation, and prioritization critical to optimizing sales."

Please Note: Extended description available upon request.

Table of Contents

10 Pages
IDC PlanScape Figure
Executive Summary
Why Is Intelligent Retail Assortment Planning Important?
Intelligent Retail Is Evolving Rapidly
AI Advances Classic Demand Forecasting
Greater Automation of Assortment Planning Is Standard AI Fare
Auto-Clustering and Space Planning Are Part of Modern Intelligent Retail
SKU Rationalization Is Shifting to Customer-Centric Parameters
SKU Proliferation Can Be a Competitive Disadvantage
Assortment Planning Is Becoming Agile, Omni-Channel, and Localized
What Is Intelligent Retail Assortment Planning?
Intelligent Assortment Planning Balances Product Selection
Who Are the Key Stakeholders?
How Can My Organization Take Advantage of Intelligent Retail Assortment Planning?
Introduce Intelligent Retail AP Tools
Make Sure to Include Key Features of Modernized AP Solutions
Advice for Technology Buyers
Related Research

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