If you look at the big retailers now, you can see that they are taking advantage of their vast amounts of data to build muscle to run their business. Here is an interesting piece of statistic. 35% of Amazon purchases and 75% of Netflix viewing now are based on computer-generated recommendations.
Ask yourself if they use it, why are you not using it? You have AI, too, in your POS Software. In our market space, it's the best and it is *FREE*.
So why are you not using your data to make decisions?
To be successful today, retailers must stay in tune with their stores' unique preferences and behaviour. Yet, there are too many stock lines and marketing seasons to do it properly manually. The best way to do it is with your AI. These tools are generally too expensive for small to medium retailers. This is unless they have our point-of-sale system as we have incorporated it into our software and issue it free. Using it, you will find it intuitive and straightforward to do. It does not require a lot of training. It is less work than the manual order.
Let's say you have a shelf for toy soldiers. You can not ask for unlimited amounts of toy soldiers. You have to decide how many to carry. So, our users can get a focus order. This is an advanced type of stock control method. It gives you an estimate of what you should order based on the time of year, the product current selling history and suppliers terms.
The AI follows the stock on hand and its business history. It then estimates the stock level required for these goods in the coming period. If it deems that the stock on hand is too low, it will recommend an order to a supplier. This is done with the speed and precision that no one manually can match.
Data-driven ideas can create value throughout your business.