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In response, many brands are passing on these higher costs to consumers.
However, inflating prices has a negative impact on consumer confidence and spending.
As a result, organizations are grappling with how they can do their best not to increase prices.
This means they can absorb cost increases and avoid passing these on to consumers whose spending is already squeezed.
To continuously deliver the exceptional shopping experiences their customers expect.
VP for Sales and Retail Industry Strategy at Blue Yonder.
With margins squeezed, increasing prices or adding new charges may seem like an obvious way to protect margins.
This kind of real-time flexibility minimizes inefficiencies such as excess inventory.
An entire end-to-end AI-driven supply chain can plan for both demand and returns more intelligently.
By doing so, retailers can reduce the need for reactive and costly safety-buffer stock orders.
They can also instantly identify if an item is currently available at a store location for immediate pickup.
Equipped with real-time visibility of stock returns, inventory levels across the web connection can be optimized.
It also opens the door to deploying AI technologies that will further improve supply chain efficiencies and reduce interruptions.
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The views expressed here are those of the author and are not necessarily those of TechRadarPro or Future plc.
