Assortment Optimization for Retail and FMCG
- Consumer Goods
- Data Science
Whether taking a view from Category Management, Supply Chain, or as a Buyer (or something in between), assortment selection is a critical exercise and one that can lead to great benefit from a strong supplier-retailer relationship.
With the growing strain on supply chains, inflation, and other conditions impacting shopper decisions, and the continued explosion of omnichannel trends, there’s heightened sensitivity to make the right assortment decisions at the right price in the right location. Assortment optimization takes on many forms; revenue growth management, SKU rationalization, or simply enhanced assortment management. In all these cases, the application of data analytics and AI can be a key differentiator in making sound decisions in a more timely manner with a wide view of the factors that influence buying decisions. With the ever-growing availability of disparate data and the near limitless scale of cloud-based tools, the opportunity is there to tackle assortment optimization with digital sophistication.
In this 30-minute webinar Thorogood Data & Analytics Consultant discusses how current economic conditions and shopper trends can be fed into assortment optimization engines, and explore a few different methodologies to deliver assortment optimization solutions. He also discusses common gaps and challenges in these types of analyses.
What we cover:
- Data and analytics approaches to address assortment optimization
- The different types of data that provide value; and how best to use them
- Where we see the most opportunity in achieving a strong return on data investment
Is it for you?
- Are you looking at ways to enhance assortment selection?
- Are you looking to grow a relationship between supplier-retailer through the use of digital investment?
- Are you being asked to back assortment selection decisions and/or improve upon them?
Assortment Optimization for FMCG and Retail (31 minutes)