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Satisfying Customers With AI To Optimize Retail Inventory

Posted by Harriet Schneider on Feb 11, 2020 8:00:00 AM

Dear frustrated retailer:

Are you responsible for the success of your company’s retail business from sales, margin, and inventory levels to overall customer satisfaction? If so, what happens when a valuable customer tries to make a purchase from one of your stores or online but is disappointed when there is no inventory? Odds are great you won’t get them back. Out of stocks are a huge problem for your financial bottom line.

What happens when you have excess inventory in the wrong products, wrong locations, or at the wrong time, leading to disappointed customers? You might not be back. Slow moving, stagnant inventory stranded in various locations throughout your supply chain is a tremendous problem for your financial bottom line—and your career.

Your greatest challenge is balancing the need to satisfy customers with your business’ profitability and
growth. Customer loyalty is finicky. They demand inventory when they want it, where they want, and
have a myriad of options on their smartphone to change brands, retailers, locations, and delivery
method. In this new age of retail, you can’t afford to lose a customer to your competition. At the same
time, you can’t load up every location/channel with an infinite amount of inventory in hopes of satisfying every customer’s purchase

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Topics: AI, Artificial Intelligence, CloudSuite Retail, Retail Inventory

Defining Digital Transformation - Automation, Transformation, People

Posted by Harriet Schneider on May 30, 2019 8:00:00 AM

Digital transformation is on the agendas of virtually all corporations today. It has risen to the top of strategic plans and has become the focus of businesses around the globe. So great an industry evolution, IDC indicates spending on technologies and services that enable the digital transformation of businesses will hit $1.97 trillion in 2022.

 
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Topics: Digital Transformation, Digital Strategy, Digital Journey, AI, Artificial Intelligence

What's The Future Of Artificial Intelligence In Distribution?

Posted by Harriet Schneider on Mar 7, 2019 8:00:00 AM

Distribution business trends for 2019, the year of moving strategically.

Artificial intelligence (AI) has a lot of people talking. The fact that those people no longer hail primarily from the world of science fiction is representative of just how far the ideas driving this technology have come. AI has entered the mainstream, and it has the technology world buzzing with excitement. The potential applications of AI are vast and varied. And in truth, that is where the real excitement lies—in finding out just how far we can take AI, and in turn, how far it can take us.

Kelly Squizzero, Infor’s Director, Industry & Solution Strategy, points to five key business trends that are shaping distribution business in 2019.

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Topics: Distribution, AI, Artificial Intelligence, Machine Learning

How To Identify An AI Opportunity: 5 Questions To Ask.

Posted by Harriet Schneider on Mar 5, 2019 8:00:00 AM

Could AI solve that problem? Speed that process? Five important things you should ask to unearth AI opportunities in your organization.This article by Kevin Casey at the Enterprisers Project which is a community of CIOs discussing the future of business and IT, provides actionable insights on how IT and business leaders can think clearly about where AI might be a good fit. 

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Topics: AI, Artificial Intelligence, Machine Learning

Download Webinar: 5 Steps For Creating A Common Language To Define Manufacturing Innovation

Posted by Harriet Schneider on Mar 1, 2019 4:22:46 PM

MASTER SERIES FOR MANUFACTURING: Part 1 - A webinar designed to share a knowledge base for manufacturing sciences & technology and applications to improve production performance.

As we hear more about Industry 4.0; Industrial Internet of Things, and The Digital Factory, it might be a good time to reflect and develop a “Common Language” as it pertains to the word “Manufacturing.”

Since every word has specific meaning, we should ensure that terms such as “Manufacturing” and “Manufacturing Technology” are understood and articulated with a shared language.

This effort could also serve a very useful purpose as we review the developments in the past century and plan ahead for future ones.

“Manufacturing” is the REPETITIVE use of an organized collection of Physical processes, Information Processes and the combination of the two to achieve the “Product” at the required quantity, quality, cost, time and place.

It is the repetitive use of all processes that distinguish “manufacturing” from research, design, product development, etc.

 

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Topics: Digital Transformation, ERP, Manufacturing, Food & Beverage, Webinar, Process Manufacturing, Artificial Intelligence, Fashion PLM

How Is AI Lowering The Barrier To Entry For BI And Analytics?

Posted by Harriet Schneider on Feb 19, 2019 8:00:00 AM

According to Gartner, more than 3,000 CIOs ranked Business Intelligence (BI) and Analytics as the top differentiating technology for their organizations. If BI and Analytics is such a game-changer, then why is the average adoption rate in organizations only 32%? Despite the efforts of Cloud BI vendors making it easier for users to acquire, explore, and analyze data sources without IT dependency, lack of data literacy and analytic skills still hinder widespread adoption for data-driven decision making.  But the industry is undergoing a fundamental transformation. The mainstream arrival of Artificial Intelligence (AI) brings with it the potential to finally meet the demand for actionable, enterprise-wide, fact-based decision making.

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Topics: Artificial Intelligence, Machine Learning, Business Intelligence, Cloud BI, Data Visualization, Networked BI

5 Steps For Creating A Common Language To Define Manufacturing Innovation

Posted by Harriet Schneider on Feb 14, 2019 11:29:51 AM

MASTER SERIES FOR MANUFACTURING: Part 1 - A webinar designed to share a knowledge base for manufacturing sciences & technology and applications to improve production performance.

As we hear more about Industry 4.0; Industrial Internet of Things, and The Digital Factory, it might be a good time to reflect and develop a “Common Language” as it pertains to the word “Manufacturing.”

Since every word has specific meaning, we should ensure that terms such as “Manufacturing” and “Manufacturing Technology” are understood and articulated with a shared language.

This effort could also serve a very useful purpose as we review the developments in the past century and plan ahead for future ones.

“Manufacturing” is the REPETITIVE use of an organized collection of Physical processes, Information Processes and the combination of the two to achieve the “Product” at the required quantity, quality, cost, time and place.

It is the repetitive use of all processes that distinguish “manufacturing” from research, design, product development, etc.

 

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Topics: Digital Transformation, ERP, Manufacturing, Food & Beverage, Webinar, Process Manufacturing, Artificial Intelligence, Fashion PLM

Do You Enjoy Being Scared And Excited At The Same Time?

Posted by Harriet Schneider on Feb 5, 2019 8:00:00 AM

Artificial intelligence (AI) has a lot of people talking. The fact that those people no longer hail primarily from the world of science fiction is representative of just how far the ideas driving this technology have come. AI has entered the main stream, and it has the technology world buzzing with excitement.

The potential applications of AI are as vast and varied as any complex technology vision that has ever been brought to life. And in truth, that is where the real excitement lies—in finding out just how far we can take AI and in turn, how far it can take us.

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Topics: Digital Strategy, Digital Journey, Artificial Intelligence

What Are The Prerequisites For Your Digital Journey?

Posted by Harriet Schneider on Jan 29, 2019 8:00:00 AM

Start by putting the infrastructure in place to support a new way of thinking. 

Digital technologies are dramatically changing the way we work and how we do business with customers and suppliers. Companies are seeing the inevitability of transformation. Whether you are on a fast-track for modernization or planning an elongated ramp-up, putting the right ERP foundation in place is key to success.
  
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Topics: Digital Transformation, Digital Strategy, Digital Journey, AI, Artificial Intelligence

The Truth Is That AI Can Make Us Better At Being Human

Posted by Harriet Schneider on Jan 24, 2019 8:00:00 AM

The growing enthusiasm for Artificial Intelligence (AI) is unquestionable and well documented. CEOs marvel at the potential of AI and deep learning to perform cognitive functions such as problem solving and reasoning – functions previously undertaken only by people. 

Rather than making us redundant, all the evidence says that AI amplifies our potential. Infor’s Rick Rider explains how AI can make us better at being human.

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Topics: Digital Strategy, Digital Journey, AI, Artificial Intelligence

About ICCG

Welcome to our Blog - ICCG Insights!

Embracing thought leadership as a pathway for growth, represents the true spirit of progressive change that will make a difference in technology-driven industries. As a consulting company, ICCG customers look to us as their value-added resource. They expect us to be proactive about solving their immediate challenges and we don’t take that responsibility lightly. It is this that drives us to share our best practices, knowledge-base, years of experience, and tried and true methodologies. These have been the hallmarks of our corporate brand.

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