Technology
New Zealand retailer teams with Impact Analytics to boost forecasting, inventory management
August 22, 2024
The Briscoe Group, a retail conglomerate in New Zealand, is partnering with Impact Analytics, which offers AI-powered planning, merchandising and pricing solutions, to improve forecasting and inventory management.
The Briscoe Group operates 90 stores under the Briscoes Homewares and Rebel Sport brands. It is deploying Impact Analytics AI-merchandising and supply chain platform, including PlanSmart, AssortSmart, InventorySmart and AttributeSmart, according to a press release.
"After thoroughly evaluating opportunities to integrate advanced AI capabilities into our operations, we selected Impact Analytics for their exceptional retail-focused platform and team of seasoned experts," Andrew Scott, COO of Briscoe Group, said in the release. "The platform's ability to deliver rapid value through dynamic module interaction and sophisticated AI forecasting will future-proof our business, ensuring we remain at the cutting edge of retail innovation."
The Impact Analytics PlanSmart module is designed to help retailers optimize merchandise financial planning and manage open-to-buy budgets effectively. It leverages AI-driven forecasting to enhance the accuracy of financial plans, ensures better alignment with demand and inventory needs and helps retailers make data-driven decisions to improve profitability and reduce the risk of overstock or stockouts.
AssortSmart is an AI-powered assortment planning software that enables leading retail companies like Briscoe to create customer-centric, profitable, and localized assortments across multiple locations.
InventorySmart is an AI-powered forecasting engine that enables retailers to accurately predict inventory needs and drive profitability by reducing overstocks and optimizing assortments and distribution.
AttributeSmart is an AI-powered automated product tagging software that helps retailers improve product discoverability and merchandising. It uses computer vision and machine learning to automatically generate accurate product tags from various sources including images, text descriptions, and customer reviews.
