DALLAS – June 15, 2021 – SymphonyAI, a leading global provider of integrated AI-powered marketing, merchandising and supply chain solutions for FMCG retailers and manufacturers, today announced that it was recognized as a Representative Vendor in the 2021 Gartner Market Guide for Retail Assortment Management Applications: Long Life Cycle Products [1] (Gartner subscription required). SymphonyAI is one of 14 vendors named in the report that offer applications for retailers seeking to improve assortment processes for long life cycle products.
In its report, Gartner recognizes that its volume of retailer inquiries on the topic of Retail Assortment Management Applications (RAMA) “remains significant,” estimating that “basic Excel is still the most common assortment management tool, used by over 30% of Tier 1 retailers and likely boasting an even larger penetration in Tier 2 grocery and specialty retailers.” Gartner says, “Category management processes can no longer operate in organizational or technology silos, requiring complex orchestration across all core processes, such as category review and assortment planning, pricing, space management, allocation, replenishment, and supply chain.” [1]
Furthermore, according to the Market Guide, “AI enablement is key to the future of RAMA solutions.” It notes, “AI provides the ability to quickly discern patterns from voluminous data residing in many different systems to give the retailer good customer insights on trends, better forecasting and predictive analytics.” [1]
SymphonyAI’s RAMA offerings fall into three solution suites: Agile Merchandising, Floor Intelligence and Shelf Intelligence. Enhanced and differentiated by CINDE, SymphonyAI’s Al-powered Customer INsights and Decision Engine, each application harnesses the power of AI to gain efficiencies in category planning processes. AI is used to plan and optimize the decisions of the complete category management process, recognizing physical constraints and digital opportunities. Further, SymphonyAI’s Shelf Intelligence solution maximizes planogram ROI and improves compliance.
SymphonyAI’s enterprise AI platform powers Intelligent Clustering and Assortment Optimization – these solutions enable localized, consumer-centric assortments aligned with changes in consumer demand, rather than waiting for calendar-based resets. This is something Gartner notes as a Key Finding in the Market Guide: “Retailers are moving from annual or semiannual category review processes to more frequent adjustments that eliminate disruptive floor resets and take advantage of market opportunities when they occur.” [1] Interestingly, a recent study commissioned by SymphonyAI found that while grocery executives would like to double the number of category resets annually, 68% say they lack the effective systems required to plan and implement more frequent resets.
“Through the use of SymphonyAI’s applications for assortment management and optimization, our retail clients are realizing millions of dollars in revenue and margin growth, with 30 times more efficient assortment revisions and a three-fold reduction in category reset cycle times,” said Cheryl Sullivan, Chief Product Officer, SymphonyAI. “We believe that our inclusion in Gartner Market Guide for Retail Assortment Management Applications: Long Life Cycle Products speaks to our category planning expertise, as well as our solutions’ ability to deliver collaborative workflows resulting in more intelligent assortments and category resets. This will be increasingly important with retailers supporting cross-channel assortments as we emerge from the pandemic and customer demand fluctuates.”
View the Market Guide for Retail Assortment Management Applications: Long Life Cycle Products here (Gartner subscription required). Learn more about SymphonyAI Floor Intelligence, Agile Merchandising and Shelf Intelligence.
[1] Gartner, “Market Guide for Retail Assortment Management Applications: Long Life Cycle Products”, Robert Hetu, 25 May 2021
Disclaimer:
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About SymphonyAI
SymphonyAI is a leading global provider of role-specific, AI-powered revenue growth management solutions and customer-centric insights for retailers and CPG manufacturers across the entire value chain. Our proven, industry-leading, AI-enabled software, coupled with the industry’s only conversational natural-language AI interface, CINDE, provides key users with proven prescriptive and preemptive recommendations that make it easy to identify end-to-end growth opportunities, activate plans and realize measurable profit and revenue growth. Our solutions are specific to key decision-maker roles focused on profitable growth across the retail value chain from source to consumer. With our strong global partner ecosystem, we serve more than 1,200 organizations worldwide – including 15 of the top 25 global grocery retailers, 25 of the top 25 global CPG manufacturers, thousands of retail brands, and hundreds of national and regional chains – all through the Microsoft Azure Cloud. SymphonyAI is a SymphonyAI company. More at SymphonyAI.
About SymphonyAI
SymphonyAI is building the leading Enterprise AI company for the digital transformation of the business enterprise, across the most important and resilient growth verticals, including life sciences, healthcare, retail, consumer packaged goods, financial services, manufacturing and media. In each of these verticals SAI businesses have many of the leading enterprises as clients. SAI is backed by a $1 billion commitment from Dr. Romesh Wadhwani, a successful entrepreneur and philanthropist. Since its founding in 2017, SymphonyAI has grown rapidly to a combined revenue run rate of more than $300 million and over 2,200 talented leaders, data scientists, and other professionals. More at SymphonyAI.
Media Contact
Adrienne Newcomb
Ketner Group Communications (for SymphonyAI)
[email protected]
