Tata Consultancy Services’ Retail Optimization Suite, TCS Optumera™ Leverages AI to Curate Shopper-Centric Assortments across Stores and Channels to Drive Sales and Profitability
NEW YORK I MUMBAI, June 28, 2021: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been named a Representative Vendor in the 2021 Gartner Market Guide for Retail Assortment Management Applications: Long Life Cycle Products1, for TCS Optumera™, its award-winning AI-powered retail optimization suite.
By harnessing the power of data, machine learning and artificial intelligence, TCS Optumera helps retailers to rapidly execute changes by rendering key merchandizing processes intelligent and autonomous. Its self-learning, multi-dimensional concurrent optimization enables superior, integrated decision-making around space, assortment, pricing, and supply chain. Retailers using TCS Optumera have reported a 3-5% increase in sales, 30-50% reduction in time spent, 20-30% reduction in costs, and have executed 5x more merchandising and other strategies.
TCS Optumera Omnichannel Assortment considers product characteristics in addition to over 1,000 factors that impact sales, and helps retailers optimize and right size their store category spaces, curate cross channel assortments with always-on optimization at scale, ensuring availability through better visibility and alternate sourcing. TCS Optumera Competitive Assortment leverages a sophisticated three-tier matching algorithm to provide retailers insights about gaps in assortment and recommends new product onboarding opportunities. Other Optumera modules include macro space optimization, omnichannel assortment optimization, self-learning supply chain, price promotion and markdown optimization.
“Leading global retailers are leveraging TCS Optumera to hyper-localize assortments across channels, rationalize their SKUs, and take informed data driven customer centric decisions, resulting in increased sales and profitability,” said Shankar Narayanan, Business Group Head, Retail, CPG, Travel & Hospitality, TCS.
The flagship product TCS Optumera is part of the TCS Algo Retail™ suite of products and platforms that enables retailers to seamlessly integrate and orchestrate data across the retail value chain, harnessing the power of analytics, AI and machine learning to unlock exponential business value.
Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 488,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.comand follow TCS news at @TCS_News.
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1 Gartner, Market Guide for Retail Assortment Management Applications: Long Life Cycle Products, Robert Hetu, May 25, 2021
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