The circumstances under which small to medium retailers operate make technology platforms that provide real-time data especially meaningful to them. But meeting consumer expectations is not the only challenge retailers face. Smaller retailers can partner with service providers like Ryder that research and develop technology, O’Keefe advised. She also sees retailers optimizing inventory in micro-fulfillment centers using predictive analytics, which will factor in demand forecasts and historical trends. And when retailers stumble, technology will help them model the cost implications of such deviations and what that means for customer service, O’Keefe said.

Source: Forbes April 01, 2021 17:44 UTC