Mi9 Retail Unveils New AI-Powered Demand Management Capabilities

MIAMI, Dec. 19, 2018 /PRNewswire/ -- Mi9 Retail, a leading provider of omni-channel retail solutions, is pleased to announce the release of new artificial intelligence and prescriptive analytics enhancements built into its Mi9 Retail demand management solutions. The capabilities introduced today will help retailers automate their processes in order to optimize merchandise-planning effectiveness.

With today's ever-changing retail landscape, omni-channel retailers face the unique challenge of allocating stock across their supply chain to match demand for online and brick-and-mortar stores simultaneously. With the rise in popularity of Click-and-Collect, Buy Online Pickup in Store (BOPIS) and other new fulfillment methods, it has now become common for retailers to attribute a sale to one location and fulfill it from another. This means that retailers need to rethink the way they forecast demand. By investing in AI-augmented demand management solutions, retailers can not only address these needs, but they can also cut down costs and increase both productivity and revenues, according to Statista.

The new AI-powered capabilities of the Mi9 demand management solutions include:

    --  Demand Transference: With the demand transference feature, data from
        omni-channel buying patterns can be used to predict and supply locations
        based on expected fulfillment rather than raw sales demand. The
        Inventory Planning and Allocation solutions take advantage of these
        fulfillment projections to create AI-enabled order recommendations which
        ensure that inventory levels are set up for success across every selling
        platform.
    --  Adaptive Allocations: This new extension of the Mi9 Allocation solution
        uses artificial intelligence to create the allocation of localized
        assortments. It determines an optimal mix of products utilizing a
        revolutionary AI-powered draft engine as well as data analytics for
        locations and products to fulfill a need that can be set through
        financial planning, location planning, and other cover methods.
    --  Enhanced Shape Forecasting: With the new Shape Forecasting feature,
        users are able to remove a curve from an item's sales history prior to
        regular forecasting. After being forecasted, the curve will be reapplied
        to the result. For items that follow predictable annual shapes, this
        allows more precise and comprehensive treatment of seasonality. Shape
        forecasting can either be used to remove a curve and forecast a
        curveless history or apply a curve to an unshaped forecast.
    --  Monte Carlo Simulation Re-Trend: When allocating new products and/or
        working with limited historical data, adjusting the effective demand
        signal can be the key to a successful product launch. The AI-augmented
        Allocations Monte Carlo re-trend mechanism self-corrects the demand
        signal through the use of repeated random sampling and statistical
        analysis of the sample results. These simulated scenarios continue to
        evolve and adjust as sales data comes in and the lifecycle of the
        product progresses, bringing a whole new element to demand signal
        management for the allocation of products.

"By incorporating the latest science and innovation into our demand management solutions we're giving retailers the ability to optimize their inventory more effectively and efficiently than ever before," said Neil Moses, CEO of Mi9 Retail. "We are deploying advanced technologies against real-world challenges that impact retailers' bottom lines." He added, "our integrated planning, allocation and replenishment systems are helping some of the largest and best-known brands in the world increase their margins by continuing to improve the overall efficiency of their supply chains."

At this year's NRF Retail's Big Show, Mi9 Retail will be demonstrating its suite of modern solutions, including its new artificial intelligence features, at booth 4209. Visit Mi9 Retail on the web at https://mi9retail.com/nrf-2019-registration/ to book your meeting.

About Mi9 Retail
Mi9 Retail is the fastest growing provider of enterprise software for retailers, wholesalers, and brands. Mi9 enables the world's leading retailers to automate and optimize their entire Plan-to-Sell(TM) process, from planning to executing, influencing, and selling merchandise in-store, online, and on any device. Mi9 corporate retail systems facilitate better planning, master data management, allocation, and replenishment, and Mi9 customer engagement and point-of-purchase systems boost revenue across digital and brick-and-mortar channels. Our solutions are connected via a common analytics framework that serves as the foundation of the system and speeds time to insight with role-based dashboards, KPIs, and governed self-service data discovery. Mi9 Retail is committed to helping retailers on their path to success, so they can maximize revenue and customer engagement while minimizing costs. Visit www.mi9retail.com to learn more.

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SOURCE Mi9 Retail