Machine Learning Times
Machine Learning Times

7 years ago
7 Ways Predictive Analytics Helps Retailers Manage Suppliers

 One of the most challenging aspects of the retail process is the collaboration between retailers and their suppliers or vendors. No matter how prepared a retailer can be they are still dependant on the vendor to provide the expected service. (and vice-versa) Furthermore, vendors are constantly offering retailers deals on shipments (quantity discounts, prepacks etc.) but how can a retailer predict whether or not this will be a profitable arrangement? What is the best way to optimize vendor compliance, cut inventory costs, and increase profit margins? Traditional Vendor Compliance Traditionally retailers managed vendor compliance through scorecards that measured the supplier’s

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