AI and Retail Demand Forecasting Part 1: How new technology and AI has 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 of our interview with Brian Kilcourse, we will discuss:

  • 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 report from Brian, Why the time is right for AI-enabled forecasting & replenishment in retail.