SAP Launches AI Solutions for Retailers to Elevate Customer Experiences
SAP introduced AI-driven retail tools for predictive demand planning, boosting profitability and enhancing customer loyalty for retailers.
German software company SAP introduced AI-driven retail capabilities including predictive demand planning and order management solutions, helping retailers to optimize processes, drive profitability, and help enhance customer loyalty.
The new capabilities include SAP Predictive Demand Planning, which offers retailers accurate and longer-range demand forecasts through a self-learning demand model. Similarly, SAP Predictive Replenishment adds store replenishment capabilities to optimize multilevel supply chains, considering factors like demand volatility and business targets.
Additionally, the company also introduced an Order Management solution for sourcing and availability, allowing organizations to determine optimal sourcing strategies aligned with their unique goals. This enables the creation of omnichannel order flows that respond to various business events, offering a streamlined and customizable workflow automation tool.
“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,” said Ritu Bhargava, president and chief product officer, of Industries and CX at SAP.
“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,” Bhargava added.
According to the company, the newly introduced capabilities cover a spectrum of retail functions, ranging from planning to personalized customer experiences. By providing retailers with holistic customer insights and data analysis tools, SAP aims to equip them with the agility needed to thrive amidst the rapid changes in today’s market.
Empower Retailers to Pick Personalized Solutions
The approach of the SAP is to allow retailers the flexibility to pick capabilities tailored to their unique needs. The integration of experiential and operational data across the enterprise is highlighted as a key factor in facilitating more intelligent, personalized customer experiences.
Testimonials from prominent users help understand the real-world impact of SAP’s solutions.
“In today’s environment, it’s critical to have insight across the business, which is why Swarovski has continued to adopt and leverage SAP’s end-to-end solutions, enabling us to connect our business processes,” said Lea Sonderegger, chief digital officer and chief information officer of Swarovski.
“Since leveraging SAP software, we’ve had the flexibility and security to support continuous innovation, which offers us a consistent foundation for cultivating unique Swarovski customer loyalty across all touch points and innovating to create unique customer experiences,” Sonderegger added.
Anticipating a surge in retail investment, Leslie Hand, group VP of retail and financial insights at IDC, emphasized the essential role of a strategic partner who understands and can deliver end-to-end capabilities.
Further, the SAP Emarsys Customer Engagement platform now integrates TikTok and LinkedIn for targeted digital ads to improve digital advertising efforts. Marketers can leverage this integration to segment customers, engage leads, optimize ad spend, and enhance the overall omnichannel retail experience.
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