Symphony RetailAI, a leading global provider of integrated AI-powered marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, today announced that it was recognized as a representative vendor in Gartner’s 2021 Market Guide for Retail Forecasting and Replenishment Solutions.
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According to Gartner, “…forecasting and replenishment technology providers continue to evolve their advanced analytical and science capabilities, particularly in the areas of artificial intelligence (AI) and machine learning (ML). As AI and ML become more prevalent in technology providers’ talk tracks, retailers should use the following criteria to assess and validate a technology provider’s capabilities:
- Process large sets of structured and unstructured data, such as social media comments
- Perform setup and maintenance with limited human intervention needed
- Identify interdependencies within the dataset
- Propose real-time recommendations, decisions or dynamic changes to the plan
- Enhance decision making by making data available to augment and/or automate planning decisions more quickly”
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Symphony RetailAI provides FMCG retailers with profitable replenishment planning powered by AI-based demand forecasting. The company’s Demand ForecastingAI solution brings together all relevant data and manages all items, from promotional to ultra-fresh food, in a single platform. Symphony RetailAI Replenishment Planning allows users to gain a singular inventory view and leverage machine learning to accurately manage stock levels for an optimized end-to-end supply chain – supporting daily goods and fresh items.
“We believe that our continued inclusion in Gartner’s Market Guide for Retail Forecasting and Replenishment Solutions points to Symphony RetailAI’s ability to enable effective and efficient supply chain execution for retailers,” said Patrick Buellet, Chief Strategy Officer, Symphony RetailAI. “Accurate demand forecasting and replenishment planning across all categories is key to delivering sales and profit growth, and our AI-powered models and analytic platform are capable of capturing the complexity and reach of today’s retail supply chain. We are delighted to see our customers reaching 90-95% demand forecasting accuracy levels, which are well above industry averages.”
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