Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that its award-winning AI-based merchandize optimization suite for retailers, TCS Optumera, has been named as a Representative Vendor in the Gartner Market Guide for Retail Assortment Optimization Applications in Merchandising1. The guide has recognized TCS Optumera Assortment Optimization, Competitive Assortment and Fashion Assortment offerings.
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TCS Optumera is an AI-powered retail optimization suite that reshapes retailers’ decision making with self-learning and multi-dimensional concurrent optimization. It harnesses the power of data, machine learning and artificial intelligence to help retailers rapidly execute changes by rendering key merchandizing processes intelligent and autonomous, optimizing space, assortment, pricing, and supply chain decisions. Retailers using TCS Optumera have reported a 3-5% increase in sales, 30%-50% reduction in time spent, 5x more strategies and 20-30% reduction in costs.
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By running its algorithms on thousands of factors that impact business KPIs, including shopper preferences and competitive assortment, TCS Optumera™ Assortment Optimization enables leading global retailers to hyper-localize assortments across stores and online channels, rationalize their SKUS, and help shoppers find what they need, maximizing sales and profitability. A sub-module, Competitive Assortment, uses a three-tier matching algorithm to provide retailers insights about gaps in their assortment, versus competition.
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