By David Dorf on Nov 05, 2008
Retail has always been about satisfying customer demand with the right level of supply. Over-supply product and you're stuck with margin erosion from mark-downs. Under-supply and you frustrate your customers with empty shelves so they head to your competition. So to get the supply number right, you have to understand the demand.
Much research has gone into using analytics to better understand the needs and buying patterns of customers. Unfortunately, much of this work is done off-line in long-running processes that take too long. In today's fast-paced environment, its even more important to read and react to customer demands in short time. Adaptive behavior is the new mindset for success and requires an adjusted thinking with an expanded set of tools.
To learn more, attend tomorrow's webinar co-sponsored by Supermarket News. And while you're at it, take a gander at the article At Your Service, available at the Supermarket News website. It discusses SOA in the grocery segment.