German software company SAP introduced AI-driven retail capabilities, including predictive demand planning and order management solutions, that help retailers optimize their processes, increase profitability and increase customer loyalty.
New capabilities include: SAP Predictive Demand Planning, which provides retailers with accurate, longer-term demand forecasts through a self-learning demand model.
Similarly, SAP Predictive Replenishment adds store replenishment capabilities to optimize multi-level supply chains by considering factors such as demand variability and business objectives.
Additionally, the company has introduced an Order Management solution for sourcing and availability that allows organizations to determine optimal sourcing strategies to suit their unique goals.
This enables the creation of multi-channel order flows that respond to a variety of business events, offering a streamlined and customizable workflow automation tool.
“These AI-driven retail capabilities are built on industry-specific, intelligent solutions from SAP customer experience (CX) that provide companies with deeply integrated functionality to enable their most critical business processes and customer journeys,” said Ritu Bhargava, president and chief product officer of SAP Industries and CX. strategy,” he said.
“SAP’s composable architecture helps retailers unlock their creative potential, selecting talent tailored to their unique needs and enabling them to rapidly innovate and respond to market demands, ultimately powering profitable growth,” Bhargava added.
According to the company, the newly introduced capabilities cover a variety of retail functions, from planning to personalized customer experiences.
By providing retailers with holistic customer insights and data analysis tools, SAP aims to equip them with the agility needed to keep up with the rapid changes in today’s market.
Empower Retailers to Choose Personalized Solutions
SAP’s approach is to provide retailers with the flexibility to choose capabilities tailored to their unique needs.
Integration of experiential and operational data across the organization is highlighted as a key factor in facilitating smarter, personalized customer experiences.
Featuring users’ opinions help understand the real-world impact of SAP solutions .
“In today’s environment, staying informed across the business is critical, which is why Swarovski has continued to embrace and leverage end-to-end solutions from SAP that allow us to connect our business processes,” said Lea Sonderegger, chief digital officer and chief digital officer. Swarovski’s chief information officer.
Sonderegger added: “Since we started using SAP software, we have had the flexibility and security to support continuous innovation, giving us a consistent foundation to innovate to create unparalleled Swarovski customer loyalty and unique customer experiences across all touchpoints.”
Predicting an increase in retail investments, Leslie Hand, IDC’s group vice president of retail and financial insights, emphasized the important role of a strategic partner that understands and can deliver end-to-end capabilities.
Additionally, the SAP Emarsys Customer Engagement platform now integrates Tick Tock and LinkedIn for targeted digital ads to enhance digital advertising efforts.
Marketers can leverage this integration to segment customers, engage potential customers, optimize ad spend, and improve the overall omnichannel retail experience.
