Details
Our client is one of North America’s largest retail cooperatives. Founded in 1956, the member-owned organization operates across grocery, petroleum, and pharmacy sectors. Our collaboration aimed to harness the power of AI to transform their fresh inventory management, reduce costly product shrinkage, and improve profit margins.
Main objectives to accomplish
Main objectives to accomplish
- Tackling Inventory Shrinkage: Developing a system to address overstocking, untracked discounts, and waste in fresh departments.
- Optimizing Markdown Pricing: Leveraging AI-driven analytics to predict optimal discount levels and timing for perishable goods.
- Improving In-Store Visibility: Implementing handheld scanning systems to give staff real-time control over inventory tracking and price adjustments.
Our Goals: By focusing on these key areas,
we will achieve:
Our Goals: By focusing on these key areas, we will achieve:
- Reduced Waste & Enhanced Margins: Data-driven markdown strategies ensured more products were sold before expiration, achieving an initial 2% ROI and significantly improving profit.
- Increased Operational Efficiency: Centralized data and real-time tracking streamlined inventory processes, from valuation to shrink analysis, boosting stock accuracy.
- Empowered Store Staff: Enhanced visibility and user-friendly tools allowed staff to take proactive control of inventory, enabling dynamic pricing adjustments up to seven days in advance.
Who uses the solution?
In-store staff and management teams in fresh departments.
What geography will it be focused on?
North America
Key Results?
Initial 2% ROI within the first year, with significant reductions in waste and greater product stock accuracy.
Core Technology?
An AI-powered pricing engine and a handheld inventory management system.