Dropit

Black Friday can show you just what machine learning can do for your inventory management. To prepare for the biggest shopping day of the year, retailers need to have all their data working for them. With machine learning insights from Dropit, retailers can make smarter, data-driven decisions for their inventory allocation to make the most of every opportunity to ensure customers leave happy. Learn more at https://www.dropit.shop/ #BlackFriday2024 #machinelearninginretail

We're thrilled to announce that our very own Stuart Ford, COO of Dropit, will be leading the RETa.iL Panel Discussion?at the exclusive Rarely Heard Voices event in London this Tuesday, September 24th. Joining Stuart Ford are industry visionaries: ? Uri Reiss, CEO of 911 Fashion ? Mo B. President & CFO of Janie and Jack ? Philippa Dempster, Senior Partner and Managing Partner?of Freeths They'll dive into a forward-looking discussion on the future of AI and its transformative applications in retail. ?????While the event is by invitation only, we'll be sharing key insights and highlights afterward. Stay tuned! hashtag #AIinRetail hashtag #Innovation hashtag #Dropit

Poor inventory turn ties up capital, increases storage and maintenance costs, and leads to obsolescence. Cash flow is reduced, and profitability is lowered, making it difficult to respond quickly to market changes. Learn more about how out-of-synch #inventory velocity comes at a high price in our latest blog >>> https://lnkd.in/gMfQye2S #retail #omnichannel

Our CCO Frankie Mossman will be presenting at the Association for Supply Chain Management (ASCM) Corporate Roundtable tomorrow! She’ll be discussing: ??-??How progress can be made despite imperfections ??-??How transparency and cooperation with tech partners, suppliers, and customers contribute to incremental improvements and long-term benefits. If you have the chance to join us there, please say hi! https://www.dropit.shop/ #supplychainmanagement #techinnovation #dropit #ASCM

Retailers craft a narrative each season with the colors, styles, and themes they choose to stock. (Brown and burgundy are in for this fall, according to Vogue. https://lnkd.in/dABDqgCr) But beyond which items should be stocked, how do retailers ensure these items are stocked appropriately—that they avoid out-of-stocks and there isn’t excess stock at the end of the season? That’s where Dropit comes in, using powerful machine learning models and taking in data across the entire tech stack, both live data and historical data for optimized inventory decisions. While retailers are already planning for Christmas and the New Year, Dropit guides those winter inventory decisions while making micro-adjustments for fall—ensuring brown and burgundy can make way for winter trends with minimal waste. Learn more at: https://www.dropit.shop/ #retailindustry #retailstrategy #optimizedinventory #retailbrands #dropit #apparel

Decisions are always more powerful when they’re rooted in data. When retailers unify data from all pieces of their tech stack—OMS, POS, ERP, etc.—they overcome their data silos and see the full picture of their inventory at any given moment. This enables better prediction of customer demand, more accurate inventory allocation, and faster response to market changes. With Dropit, retailers can allocate inventory across their sales channels where the data says it is most needed—to the benefit of waste reduction and greater profit potential. Learn more at: https://www.dropit.shop/ #inventoryoptimization #dropit #retailindustry #retailbrands #retailtechnology

This is a customer-facing example of evolving technology in the #retail industry. According to the article, the goal is “a single QR code that can satisfy customer engagement as well as point-of-sale and inventory scan requirements.” This will require both hardware and software preparation to make the shift, which some brands and retailers might start as early as 2027. https://lnkd.in/e82aK9vw Retail technology innovation is about helping retailers better serve their customers. Inventory optimization is how Dropit helps retailers better serve their customers. Less stockouts. Less overstock. Retailers can make smarter decisions for allocation, restocking, and returns, driven by machine learning models. To learn more, visit: https://www.dropit.shop/ #inventorymanagement #dropit #retailbrands

Black Friday might still be far from customers' minds, but if you're a retailer, you're always several steps ahead on the calendar. Many retailers are approaching planning for one of the biggest shopping days of the year with powerful machine learning on their side. With Dropit, retailers know how to optimize inventory decisions across multiple sales channels, down to the SKU-level, for greater potential profits. They’re better prepared—with unified inventory visibility and machine learning working for them. Learn more at https://www.dropit.shop/ #blackfriday2024 #retailstrategy #retailbrands #dropit

There are four ways a supply chain can be agile, according to consulting firm BCG: merchandising agility, production agility, channel agility, and organization agility. Dropit helps retailers with the third category, channel agility. “...Brands can gain access to their inventory status in real time, allowing for more informed decisions on inventory management and order replenishment. They can take such follow-up actions as cross-store inventory transfers and discount sales to immediately accelerate inventory turnover times,” according to the article. https://lnkd.in/dyNMdgTM Dropit’s unique approach is to make this as easy as possible for retailers to implement, as a solution that sits atop their existing tech stack. No need to rip and replace technology to get these capabilities. To learn more, visit https://www.dropit.shop/ #retailagility #retailindustry #retailbrands #dropit

“Between 2000 and 2014, clothing production doubled and consumers began buying 60 percent more clothes and wearing them for half as long as they once did. Three-fifths of all clothing is estimated to end up in landfills or incinerators within a year of production.” While there are people and businesses trying to help this problem through recycling, it’s also critical that we address the problem at the source. One way to do that is by businesses doing more with less inventory. Instead of planning on a percentage of inventory being disposed of, retailers can use machine learning to make smarter decisions that improve inventory turn and reduce waste. Micro decisions for a macro impact. Learn more at https://www.dropit.shop/ https://lnkd.in/ePvEZjdC #fastfashion #sustainablefashion #sustainableretail #dropit