The use of artificial intelligence (AI) in the retail industry marks a significant change in the way retailers interact with customers and manage their supply chains. Retailers are now using AI-powered enterprise software to optimize inventory, personalize the customer experience, and streamline operations.
Like in most industries, artificial intelligence in retail is used to analyze data, predict trends, automate tasks, and enhance decision-making. Retailers integrate AI with enterprise software, such as ERP systems and CRM systems.
ERP is overall management software, tracking details from production and business activities to planning, production, purchasing, delivery, shipping, payment, finance,... practical for all businesses. business, the initial foundation of digitalization so that businesses can compete in operations management as the business market increasingly develops and advances.
When the data storing a business's operations is large enough, it is possible to apply machine learning technology (Machine Learning) and Big Data Analysis (BigData) along with AI technology to support businesses in improving future operations.
Information leads the trend
Grasping information and making the right decisions will put your business model ahead of your competitors regardless of size. It is change and creativity in business that will change the landscape because stagnation and refusal to change is a common tendency of people around the world.
For example, the semiconductor chip production war between Intel and AMD, or Amazon's competition with the traditional retail industry. For those running businesses, it is clear that profits are desirable and losses are a worrying sign. But resource allocation is important, as is tracking cash flow from customers and cash flow spent on resources such as raw materials, labor, utilities, and other input costs. From there, cost optimization becomes important to lower production costs, reduce selling prices, and increase competitiveness in the market.
To monitor, businesses need a management system, first with quick and accurate data, then with analysis of operational data. That is why businesses are required to have a management system and consider it confidential information that needs to be managed strictly because the benefits it brings are very important in the future.
