SAP announces new AI-driven capabilities to help retailers optimize business processes and drive profitability and customer loyalty. These capabilities, from planning to personalization, will provide retailers with holistic customer insights and data analysis to adapt and thrive amid rapid market changes.
“These AI-driven retail capabilities build on SAP’s industry-tailored intelligent Customer Experience (CX) strategy, which provides companies with deeply integrated functionalities to enable their most critical business processes and customer journeys,” says Ritu Bhargava, president and chief product officer at SAP Industries and CX. “SAP's composable architecture unlocks the creative potential of retailers, allowing them to cherry-pick capabilities tailored to their unique needs, and rapidly innovate and respond to market demands, ultimately helping them to supercharge profitable growth.”
The new capabilities include SAP’s industry expertise and embedded Business AI to deliver true end-to-end retail solutions. AI is only as good as the data that powers it, and SAP’s ability to integrate experiential and operational data across the entire enterprise guarantees more insightful AI-driven decision making for businesses.
Key Takeaways:
- This cloud-native solution will provide retailers with more accurate and longer-range demand forecasts across all channels using a self-learning demand model and enable scalable, cost-efficient, high-volume calculations. It will offer precise forecasting and automatically identify and consider a variety of demand factors and external data. The solution will provide apps for forecast configuration, analysis, adjustment and simulation and offer intelligent alerting with root causes and recommendations.
- SAP is adding store replenishment capabilities in a phased approach to its existing SAP Predictive Replenishment solution, which will replenish inventory in stores and distribution centers for an optimized multilevel supply chain across flexible planning horizons. It will consider demand volatility, business targets, rules and constraints to determine optimal order quantities with the lowest expected costs. The capabilities improve fulfillment efficiency and on-time delivery by providing planners with a central tool to create order and delivery patterns for all product flows within the supply network.
- Organizations can determine the optimal sourcing strategies to deliver customer satisfaction and minimize fulfillment costs. Business users can configure strategies aligned to their unique goals, including delivery time, utilized capacity, cost to ship and shipments per order and then run simulations to test the strategies before implementation.
- Business users can create omnichannel order flows that respond to business events, such as a fraud hold, delivery, or in-store pickup activity, using an easy-to-use, drag-and-drop workflow automation tool. Additionally, retailers can customize event triggers based on their unique business processes, and the corresponding actions can take place within the order management system or relevant system of customer engagement.
- The SAP Emarsys Customer Engagement Platform now integrates TikTok and LinkedIn for targeted digital ads. Retailers can easily create, sync and expand audiences, connect with consumers on preferred social channels, complement campaigns with personalized ads on TikTok and LinkedIn for conversion, and use data-driven insights to convert leads and reengage at-risk customers.
