Merchandise planning has been used by retailers for more than thirty years, before the concept of e-commerce, omnichannel, advanced forecast engines, AI, machine learning and non-transactional customer data.
The time is now for retailers to refresh their merchandise planning applications, starting from the forecast used to seed the plans all the way through predicting the variety of fulfillment options customers expect.
Mi9 Retail recently sponsored a survey with Retail Systems Research (RSR) to do a deep dive into the world of merchandise planning. The report highlights:
- How the world of planning has changed
- Why the store remains important in the context of merchandise planning and order fulfillment
- The value of AI and ML in improving the forecast
- The need to change merchandise processes
- The building blocks that are necessary for success