CHICAGO--(BUSINESS WIRE)--IRI® today announced the launch of the IRI Supply Chain and Optimization™ solution powered by the IRI Liquid Data® Connected Enterprise platform. The new solution drives growth and efficiencies in supply chain by delivering near real-time key performance indicators and actionable insights for historical performance as well as a future predictive outlook, enabling clients to take action immediately.
“IRI’s new supply chain solution changes the paradigm by leveraging multiple data sets, machine learning and artificial intelligence (AI) along with deep causal analysis to improve supply chain planning and drive higher growth and profitability,” said David Hoodis, president of Retail for IRI.
IRI Supply Chain Management and Optimization differentiates itself from other solutions by providing capabilities for supply chain management and data science-driven optimization in a single integrated solution. By incorporating supply chain data alongside other IRI data sets, such as rest of market point-of-sale data, frequent shopper loyalty data, media data and expanded causal data, clients can benefit from more holistic, personalized and actionable insights generated by the new solution. Key differentiated capabilities include:
- Real-time alerts: Leverages machine learning, AI, and IRI’s algorithms to trigger alerts for out-of-stocks/over-stocks, vendor collaboration, service level compliance, and other exceptions impacting business performance.
- Integrated workflows: Alerts are surfaced in reports, emails, SMS texts, API calls, or in hand-held mobile devices used in stores in order to integrate seamlessly with existing workflows to maximize store associate productivity.
- Expanded causals: Provides a feedback loop for improving supply chain planning by leveraging a variety of causal data sources available on IRI Liquid Data with a client’s first-party data and a variety of predictive algorithms.
- Embedded metrics: Sales forecasting, predictive out-of-stocks and over-stocks and other metrics driven by embedded data science
- Improved collaboration: Includes capabilities to help vendors and suppliers partner more effectively within the solution.
- Descriptive and predictive: Provides complete end-to-end view of historical performance along with predictive future outlook for stores and distribution centers.
The IRI Supply Chain solution enables retailers and manufacturers to enhance and improve supply chain planning by optimizing inventory levels at each stores and distribution centers; improve out-of-stocks and over-stocks; enrich vendor compliance and service levels and key metrics, such as lead time, fill rate, inventory turns and forecast accuracy.
About the IRI Partner Ecosystem
IRI fundamentally believes that delivering differentiated growth for clients requires deep, highly integrated partnering with a variety of best-of-breed companies. As such, IRI works closely with a broad range of industry leaders to create innovative joint solutions, services and access to capabilities to help its clients more effectively compete in their various markets and exceed their growth objectives. IRI is committed to its partnership philosophy and continues to actively enhance its ecosystem of partners through alliances, joint ventures, acquisitions and affiliations. The IRI Partner Ecosystem includes such companies as Adobe, The Boston Consulting Group, comScore, Experian, GfK, Gigwalk, GuestMetrics, Ipsos, Kantar Shopcom, MasterCard Advisors, MaxPoint, Millward Brown Digital, Mu Sigma, Oracle, Pinterest, PlaceIQ, Research Now, SPINS, Univision and others.
IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events – a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation – is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quests to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth. For more information, visit http://www.iriworldwide.com/.