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Retail Planning During COVID-19 Crisis

Machine Learning in Action for Retail Planning

Retail is among the top businesses being impacted and we at Solvoyo are experiencing the challenges first hand with our customers using our SaaS services for Planning & Analytics platform.

As a priority, we are helping them overcome their daily operational challenges. With our cloud-based technology, our customers can work from home and collaborate online. With our self-learning ML/AI capabilities, they don’t need to worry about manually adjusting the analytical models. With our automated predictive and prescriptive analytics, our customers can focus only on exceptions, make faster decisions and find time for developing new strategies. 

Grocery Retailers and E-commerce are experiencing unprecedented demand peaks for some SKUs and major slow-downs in others. Market dynamics and consumer behavior is changing fast, therefore models calibrated with last year’s even month’s data are not effective anymore. Retailers need solutions with analytical models which can adapt to the recent trends fast. 

Every day, they need to make millions of decisions related to inventory optimization and purchasing. AI/ML capabilities automatically adjust demand forecasts, and react to changing lead-times adjust safety stocks and purchase orders accordingly. 

Automated product diagnostics

Automated product diagnostics identifies categories and products requiring immediate attention such as those experiencing a significant change in revenue, lost sales as well as slow-moving and aging inventory.

Adjustments of safety stock by detecting revenue potential
Adjustments of safety stock by detecting revenue potential

Adjustments of safety stock by detecting revenue potential

Sales Frequency Screen

Sales Frequency Screen

Aging Stock Screen

Aging Stock Screen

Service-level adjustments

Service-level adjustments are made easy with automated product classification capability. Our product solution groups items with similar patterns so planners can quickly focus on the high-risk items with significant impact on their business and take action on these groups instead of manually adjusting parameters for every single SKU. Users can easily adjust target service levels to ensure best selling products’ safety stocks are updated automatically.

Lead-time tracking

Lead-time tracking capability also alerts products where vendor lead times for recent deliveries are inconsistent with system parameters. They can choose to input new parameters or let the system update the values using machine learning. 

Forecast event breakdown

Our platform analyses and identifies the impact of actions and events on the shaping of the demand. Retailers can easily identify the COVID-19 effect on different products as well as the impacts of pricing and campaign actions taken during this period.

Demand-driver analysis

Demand-driver analysis segments products based on their sensitivity to events shaping the demand, so they can focus on the ones that are impacted most by events like COVID, or campaigns they have been running in the last few weeks. The key is to keep learning from the actions taken and make data-driven decisions. 

Dynamic pricing

Our Dynamic Pricing solutions with predictive and prescriptive analytics helps E-commerce identify slow-moving stocks and convert them into cash through price actions. 

Unfortunately, our Fashion customers closed their stores and are experiencing a significant reduction in demand nowadays. For them we are helping with automated Markdown recommendations and ensuring seamless execution of initial allocation and replenishment decisions when they resume store operations. We are also ready to help our customers with tactical and strategic decisions using our Network Design solution, which is on the same platform as our operational solutions. We can run what-if scenarios to evaluate the potential impact of warehouse contamination and distribution disruptions. 

Solvoyo’s mission is to empower our customers to make smarter decisions and maximize sales when the opportunity arises.

Currently experiencing disruptions in your supply chain? Let us help.

More COVID-19 Resources

 COVID-19 Supply Chain Planning Best Practices

COVID-19 Supply Chain Planning Best Practices

Learn More 

 Coronavirus & Retailers: Blog

Coronavirus & Retailers: Blog

How to build resilience? 

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