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Enabling Enterprise Agility & Resilience with a Robust Cloud Strategy
Read how TCS helps enterprises create a unique strategy for their cloud transformation journey, enabling business agility and resilience.
Related Insights
TCS and Microsoft enable better performance monitoring, analytics, and just-in-time maintenance with Microsoft Azure AI, ML, IoT, digital twins, and more.
Solution
15 Jul 2022
TCS enabled core businesses through enterprise systems and technologies and helped Howmet realize it full potential and achieve seamless business restructuring.
Case Studies
24 Jun 2022
Retailers worldwide are dealing with common challenges
Space Management
- Shift to online - Focus on curbside pickups
- Stores as delivery centers •
- Space to help reduce the supply chain stress
Assortment
- Drastic shift in consumer buying behavior
- Balance variety and availability
- Omnichannel assortment
Price & Promotions
- Margins thinning as operational costs are high
- Decreasing wallet size, varying demand patterns
- Balance between profitability in short run vs long term
Supply Chain
- Varying demand patterns
- Rapid onboarding new suppliers/new items
In this article
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Ingredients of market competitiveness and customer delight
Retail enterprises must harness the power of AI with high-dimensional, concurrent, always-on optimization to enable retailers to hyper-localize and optimize their assortment, space and pricing strategies in an integrated way, with greater speed and precision in decision-making.
New age retail platforms must include
- Macro space optimization - Optimize space to drive autonomous space strategies
- Price, promotion & markdown optimization - Unify price, promotion and markdown decisions for sales growth
- Omnichannel assortment optimization - Complete customers basket across channels considering demand transferability
- Fashion assortment - Predict the success of new style, set initial price right leveraging computer vision capabilities
- Self-learning supply chain - Use AI-ML for concurrent optimization across supply chain KPIs, replenishment plans and forecasting
Driving higher sales and customer centricity
- Help retailers improve sales and margins by localizing the product mix, right sizing space, and pricing competitively
- Reduce out-of-stock and over-stock across channels, with the right mix and right space
- Use predictive models to improve price competitiveness and mitigate margin erosion through strategic, responsive, and pre?emptive pricing mechanism
- De-risk investments through quick simulation, analysis, and accurate forecasting
- Measure in-store shelf compliance and ensure last mile execution of merchandising strategy
AI in retail
- Improves accuracy and precision of strategic insights with predictive analysis
- Manages and analyzes ample data in reduced time and efforts
- Helps identify and understand the shoppers' buying patterns
- Identifies gaps between demand and supply that can be monitored on a real-time basis
- Assists in identifying growth and driving sales with the implementation of AI in retail
- Allows easy space utilization, placement of products, and pricing strategy
What Author Says
Key takeaways
TCS Optumera is a fit-for-purpose product
- The product fits the process. TCS leverages the deep contextual knowledge and robust domain experiences that spans over decades and over 100+ retailers •
- Optumera enables integrated space, assortment, pricing and supply chain optimization powered by 35+ patents, indigenously hand-crafted algorithmsin TCS labs in collaboration with premierglobal institutes •
- Microservices based architecture on AWS, helps retailers of any scale to swiftly leverage product features, enables addition of new functionalitiesforspecificbusinessrequirements
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