DALLAS – May 27, 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 2021 Gartner Market Guide for Retail Store Inventory Management Applications [1] (Gartner subscription required). SymphonyAI is one of 13 vendors named in the report that provide all major components described in the research.
According to this report, Gartner states, “For Tier 1 unified commerce retailers, store inventory management (SIM) refers to the efficient and effective management of stock across all in-store processes down to SKU/item-level granularity.” Further it adds, “With the lines between store inventory and ‘upstream’ inventory blurring, retailers should evaluate their SIM deployment strategy holistically in conjunction with upstream demand forecasting, inventory allocation and replenishment processes. AI-based intelligence to drive more accurate demand forecasting should be analyzed in tandem with the data inputs gleaned from real-time IoT data streams from the store. This will, in turn, enable creation of tailored market assortments and forward deployment of inventory to stores based on localized market needs.”[1]
Gartner’s report also mentions, “Ultimately, AI will be the single biggest influence on retailers’ ability to discern real-time inventory feeds across their entire estate, particularly in their stores.”[1]
SymphonyAI’s GOLD Supply Chain Optimization Suite is comprised of Supply Chain Insights, Inventory Management, Order Fulfillment, Distributed Order Management, Click and Collect, and Master Data Management. Through a unified, end-to-end view of the supply chain, each application supports fresh item inventory management to reduce food waste and minimize out of stocks. Access to the right data in real time equips associates to make informed decisions around in-store stock and the fulfillment of omnichannel orders. Finally, as a part of SymphonyAI’s single, cloud-native data platform, the GOLD Supply Chain Optimization Suite is supported by the company’s forecasting and replenishment solutions. With accurate and AI-powered demand forecasts and a consolidated view of inventory, retailers are able to reduce costs and improve customer service in stores.
“We believe that our inclusion in Gartner’s Market Guide for Retail Store Inventory Management Applications is confirmation of our suite’s alignment with today’s business needs, particularly as retailers look to reduce inventory-carrying costs and satisfy customer demand in an omnichannel environment,” said Patrick Buellet, Chief Strategy Officer, SymphonyAI. “Also, in our review of Gartner’s analysis, we’re one of only four Representative Vendors that meet all of the evaluated capabilities for SIM applications. By leveraging the SymphonyAI GOLD Supply Chain Optimization Suite, our customers achieve up to a 35% reduction in inventory, 40% improvement in productivity, and a 45% reduction in waste.”
View the Market Guide for Retail Store Inventory Management Applications here (Gartner subscription required). Learn more about SymphonyAI’s GOLD Supply Chain Optimization Suite.
[1] Gartner, “Market Guide for Retail Store Inventory Management Applications”, Sandeep Unni, 3 May 2021
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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)
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