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5ways-Replenishment-Planning

Discover how Algonomyu2019s AI-powered demand forecasting transforms replenishment planning: reduce out-of-stocks, minimize overstock and waste, boost profitability, enable data-driven decisions, and enhance supply chain efficiency with real-time insights.

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5ways-Replenishment-Planning

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  1. 5 Ways Accurate Forecasting Revolutionizes Replenishment Planning Accurate measurement of how much the customers will buy is ‘Step Zero’ for ensuring optimal demand fulfjllment via replenishment. Explore the critical role accurate demand forecasting plays in replenishment optimization. 1 Reduced Out-of-Stock Events Stock-outs account for USD 15- 20 billion per year in lost sales in the US food industry alone. Accurate forecasts anticipate demand fmuctuations, ensuring the right amount of stocks at all times and effjciently mitigating customer needs. 2 Minimized Overstock and Wastage Annually, $163 billion worth of inventory is discarded due to oversupply and damage. ML-based forecasting is highly accurate across all levels, categories, locations, SKUs, etc., and eliminates over-ordering, minimizes storage costs, and reduces the risk of expired products. 3 Improved Profjtability Inaccurate demand forecasting can infmate inventory holding costs by up to 30%, eroding profjt margins. AI-based demand forecasting accounts for supply chain disruptions and demand fmuctuations to suggest optimal inventory levels, thereby boosting profjtability. 4 Data-Driven Replenishment Decisions A whopping 70-90% of stockouts are caused by poor stock replenishment. AI/ML-based forecasting facilitates data-driven replenishment decisions in real time by factoring in external as well as internal factors. 5 Enhanced Supply Chain Effjciency AI-powered forecasting can reduce supply chain errors by 30 to 50%, shrinking lost sales by 65% and warehousing costs by 10 to 40%. Intelligent demand forecasting solutions streamline supplier communication and collaboration, leading to smoother order fulfjllment and reduced lead times. Credits McKinsey | Shopify | Bloomberg | NetSuite At Algonomy, we help retailers elevate customer engagement and optimize retail planning through data-backed and AI- powered decisioning. Our real-time Algorithmic Decisioning platform, powered by Composite AI, enables 1:1 omnichannel personalization, seamless audience management, precision-guided demand and supply planning, and true supply chain collaboration. We are a trusted partner to more than 400 leading brands, with a global presence spanning over 20 countries. Our innovations have garnered recognition from top industry analysts such as Gartner and Forrester. More at www.algonomy.com.

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