AI and Retail Demand Forecasting Part 1: How new technology and AI have changed the game and the impact of multi-channel fulfillment

Issues stemming from unpredictable consumer behavior mean that retailers must do everything possible to get ahead of their customers and anticipate demand. Additionally, multi-channel strategies increase the complexities of interactions between demand forecasting, orders, channel allocation and logistics as retailers attempt to respond to those customers.

In part one, Brian discusses:

  • Traditional methods of demand forecasting for retailers and how new technology has changed the game
  • The effects of multi-channel fulfillment on the supply chain and the specific challenges it causes for forecasting
  • How AI can help manage the enormous amount of data that comes from new sources that retailers cannot afford to ignore

Stay tuned for part two, where Brian will examine data in more detail and share his thoughts on how contexutal, non-transactional data is vital to effective demand forecasting.

For more information, read the new Viewpoint: Improving Forecasting Accuracy in an Age of Retail Disruption.

Watch the other vodcasts in the series:

Part 2: By only paying attention to historical data, retailers are only seeing part of the demand story

Part 3: Evaluating the hype around AI and retail business transformation

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