The article highlights the importance of balance in inventory management, noting that too much inventory can lead to markdowns while too little can harm customer satisfaction. Retailers like Target utilize AI technology to predict inventory needs and respond proactively to potential shortages. This shift from traditional inventory methods, which often operated in silos, allows retailers to adapt more swiftly to market changes, enhancing their operational efficiency and overall brand image in a fluctuating market.
AI can help retailers proactively adjust stock before disruption strikes rather than reacting to changing conditions, especially with unpredictable factors like consumer behavior and inflation.
Traditionally, inventory management was performed in silos, leading to delayed responses to changing environments. AI integration allows for a much quicker adaptation to market dynamics.
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