QKS Group has named ToolsGroup as the technology leader in their 2024 SPARK Matrix™ Retail Forecasting and Replenishment.
The QKS Group SPARK Matrix™ evaluates vendors based on technology excellence and customer impact. It offers an in-depth analysis of global market dynamics, major trends, vendor landscapes, and competitive positioning. By providing a competitive analysis and ranking of leading technology vendors, the SPARK Matrix delivers strategic insights that help users assess provider capabilities, differentiate competitively, and understand market positions.
ToolsGroup has been chosen as the leader in the 2024 SPARK Matrix™: Retail Forecasting and Replenishment (RF&R) due to its outstanding capabilities in optimizing demand forecasting and enhancing replenishment and allocation strategies in complex retail environments.
QKS Group defines retail forecasting and replenishment (RF&R) as “solutions that apply data-driven models and algorithms by considering the variables, such as historical sales data, economic trends, and seasonality, to predict consumer demand for products, optimize inventory levels, and ensure timely restocking.” RF&R solutions broadly offer key elements such as demand planning, inventory management, replenishment planning, allocation, and promotional forecasting. The solution enables retailers and supply chain professionals to innovate, expand, and optimize end-to-end supply chain networks by accurately predicting demand patterns and trends spanning customer and product lifecycles.
“According to Avinash Singh, analyst at QKS Group, “ToolsGroup continues to excel in the retail forecasting and replenishment market by offering advanced AI-driven solutions that optimize inventory in real-time. Its RF&R solutions, including Inventory.io and JustEnough, integrates responsive AI for dynamic retail planning and demand sensing. Avinash further adds, ToolsGroup’s strategic vision focuses on a modular architecture, decision-centric planning, and autonomous supply chain operations. Its global presence and innovative technology roadmap have earned it the leader spot in the SPARK Matrix™: Retail Forecasting and Replenishment (RF&R), Q3, 2024. The company also addresses the complexities of omnichannel retail strategies and sustainability concerns.”
Quote By ToolsGroup
“We are thrilled to be recognized for the third year in a row, as the technology leader in the Retail Forecasting and Replenishment Spark Matrix Report,” said ToolsGroup CEO, Inna Kuznetsova. “Retailers today face unprecedented challenges in responding in real-time to rapidly changing customer demand and supply disruptions. Our recent innovations in responsive AI and stock rebalancing give retailers the power maximize their return on inventory investments, improving sell throughs and margins while minimizing waste. This award validates our strategy to leverage our proven retail optimization engines in modern, AI infused cloud solutions that are setting new standards across the retail planning marketplace.”
The Retail Forecasting and Replenishment (RF&R) solutions market has seen significant growth due to the increasing complexities of supply chains, rapid changes in consumer behavior, and the need for real-time inventory optimization. Retailers are now looking for advanced solutions that can leverage AI and machine learning to improve accuracy in demand forecasting and automate replenishment processes. This market is experiencing a surge in new entrants and enhanced offerings from established players, focusing on adaptive planning, predictive analytics, and scenario-based modeling. As omnichannel retailing and personalized customer experiences become more critical, RF&R solutions are evolving to address the challenges of inventory management across various channels. There is also a growing emphasis on sustainability, with solutions aiming to minimize waste and ensure optimal stock levels. With supply chain disruptions becoming a norm, the RF&R market is poised for further evolution, with an increased focus on autonomous supply chain operations.
For more such updates, follow us on Google News Martech News