RETAIL AND WHOLESALE​

Artificial Intelligence for retail and wholesale

The physical and online world is increasingly intertwined. Wishes and needs are no longer always visible. Various studies show that retailers and wholesalers saveup to 340 billion euros worldwide by the smart use of artificial intelligence in their company.
Retail en groothandel met AI

why AI for retail and wholesale?

The biggest challenge for retail (online / offline) and wholesale is to predict exactly what customers need. Companies such as Hema have therefore already started using artificial intelligence to improve their inventory management. Nothing is more expensive than an unsaleable stock or a stock that worsens the liquidity because it has been in the warehouse for months.

the importance of innovation with AI & RPA

In 2017, only 10,000 people worked in the artificial intelligence industry worldwide, 95% of whom worked for huge multinationals such as Google and Amazon. This means that only 500 people in the free sector worked on artificial intelligence. 

There are already a few more, but still too few to allow the other industries to catch up. Because artificial intelligence will change business processes so much, rules have already been set by the US government to restrict acquisitions of American AI-related companies by Chinese companies (and this was for Trump.) The Dutch cabinet also sees that it is very important for our country to be at the forefront of technology in artificial intelligence. That is why training has been launched in recent years and she wants to double the investment in artificial intelligence and is allocating about 1 billion euros to achieve this. 

The government has also drawn up a special action plan for intensive public-private partnerships and investments for artificial intelligence. Nevertheless, several large companies indicate that the Netherlands misses the ‘boat‘ with artificial intelligence and are sounding the alarm. We are not moving fast enough! Time for action!

The journey for most companies, which started with the internet, has taken them through key stages of digitalization, such as core systems modernization and mobile tech integration, and has brought them to the intelligent automation stage. — Deloitte.com

how do I start with AI & RPA?

Supplai understands that every company has and works on a core ERP system. The terms artificial intelligence (AI), artificial intelligence (AI), robotic process automation (RPA) and perhaps machine learning or deep learning (read more in our blog) can therefore be an elusive and difficult to understand technique. Because how do you connect this to each other? 

We believe that you should set up your organization step by step, process by process, to use artificial intelligence and thus improve your business processes. Our solutions therefore also connect seamlessly with your existing systems. Think of it as a new app on your phone! We just add something to it. In the text below, let us inspire you with examples with artificial intelligence for the manufacturing industry  about how your company can look like with AI in the next 5 years.

Artificial Intelligence for retail and wholesale examples

  • There are already real AI stores in many countries. Companies such as Alibaba already have various so-called '' smart '' stores in Asia (see video).
  • Customers have questions. With Chatbots that work on the basis of algorithms you can handle up to 90% of the questions, which makes a huge difference to the costs of call centers, but also improves the customer experience! After all, they get the right answer.
  • Determine the best layout for your store with Machine learning and data analytics. Is that product really the right one in that place, given the purchasing behavior of your customers at that time, in that season? This makes it very easy to increase your turnover!
  • Let algorithms predict demand using data from all your stores or online behavior. Also coordinate your supply chain / logistics and purchasing management accordingly. If you have your own warehouse, be sure to check out our logistics page!
  • Artificial intelligence algorithms can create personalized offers and promotions for customers. This is possible because they can predict certain demand better than people and can also combine it with real-time information about what other customers have in their shopping cart.
  • Some items are seasonal. But what is the right time to put this item on sale because sales are declining and you may be left with inventory until the next season. Track competitors' prices and make a decision on them. This is where algorithms can help.
  • Customers are increasingly receiving spam in the form of irrelevant emails and advertisements. Research has shown that when relevant advertisements and marketing messages reach customers, purchasing behavior is higher. Use artificial intelligence and natural language processing (NLP) to better understand your customer. Companies like Alibaba, with a turnover of 56 billion, use this to show customers the right products.
  • Let algorithms manage your stocks more efficiently. This can be done, for example, by better tracking full and empty shelves (real time) and combining this with a prediction of future questions.
Financiele accountant en artificial intelligence

financial and management

As a retailer or wholesaler you also have to deal with invoices, debtors, credit management and of course your cash flow management. There are many repetitive processes that involve data in the finance department. Artificial intelligence is well suited here to analyze large amounts of unstructured data or to take tasks off your hands. Some examples:

  • If you want to have incoming invoices automatically read and correctly placed in the system, this is possible with our algorithms.
  • Algorithms can help determine your foreign currency overviews. When do you need which currency in response to debtors and creditors in your system
  • Start managing even more on KPIs and let algorithms help you with this. Or to make unstructured data transparent and structured and / or even have analyzes made so that you only have to look at it!

There are many other artificial intelligence for retail and wholesale
examples to come up with. Don’t let Artificial Intelligence replace your employees, but improve them!

easy to link to, for example

start your own digital revolution!

Ready to get going and revolutionize your business processes with our algorithms?

plan a demo

subscribe to our newsletter!

Stay on top of the latest trends and developments in Artificial Intelligence & RPA with our newsletter!

supplai

leave your details and we will contact you!
Message sent!