Retail

In the world of retail, foresight is vital.  An accurate demand forecast means you only buy what you will sell, thereby minimising stock and related costs, but it also means that you only have products in demand on the shelf, thus maximising sales.

 Price management, promotions, assortment and inventory are the heart of retail: understanding the network of relationships linking these elements can help you achieve the tactical objective of forecasting the sale of articles, but it will also help you reach the strategic goal, by orienting the promotional pressure, pricing, and assortment decisions towards maximising margins.

The customer is crucial in all this. Anticipating their needs and sensing their moods and inclinations are far from a luxury, since it is the customer (with their loyalty, propensity, and preferences) that determines the success of the strategies identified above.

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