Posted June 30, 2007 in Data Analytics & Digital Technologies
Automated decision support tools in retailing rely on the accuracy of inventory records -- records that track the number of units per item available for customer purchase. If the recorded quantity falls below the reorder point, a replenishment order is placed to restock store shelves. Not only do automated decision support tools determine when to place an order, they also use recorded inventory quantities to recommend how many units to order and to provide forecasts of future demand.
