One of the reasons brick-and-mortar shoppers do digital research before or during a shopping trip, a Deloitte study called “The Digital Divide” noted earlier this year, is to ensure a store has the merchandise they want before they take the trouble to visit it. Teradata this week introduces a re-do of its Demand Chain Management software with an enhancement to help retail marketers and merchandisers anticipate their customers’ searches.
The new version, also available in the cloud for the first time, monitors a network of paths between stores, distribution centers, and vendors. The data-driven forecasting, replenishment, and allocation solution enables retailers to optimize their supply chains and inventory levels without risking lost sales due to out-of-stocks.
Teradata makes the claim that its improved solution helps retailers improve customer satisfaction and retention while increasing sales and margins. In a release announcing the enhancement, Teradata said a luxury retailer that was part of its beta test increased sales by 6% and gross margins by 350 basis points.
“A focus on omnichannel retailing is imperative today, and the most critical component for retailers is to have an accurate view of demand across all sales channels,” says Mardie Noble, Teradata’s VP of Demand Chain Management product strategy and engineering.