TCS Named in Gartner's Market Guide for Retail Assortment Optimization Applications in Merchandising

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that its award-winning AI-based merchandize optimization suite for retailers, TCS Optumera™, has been named as a Representative Vendor in the Gartner Market Guide for Retail Assortment Optimization Applications in Merchandising1. The guide has recognized TCS Optumera Assortment Optimization, Competitive Assortment and Fashion Assortment offerings.

TCS Optumera is an AI-powered retail optimization suite that reshapes retailers' decision making with selflearning and multi-dimensional concurrent optimization. It harnesses the power of data, machine learning and artificial intelligence to help retailers rapidly execute changes by rendering key merchandizing processes intelligent and autonomous, optimizing space, assortment, pricing, and supply chain decisions. Retailers using TCS Optumera have reported a 3-5% increase in sales, 30%-50% reduction in time spent, 5x more strategies and 20-30% reduction in costs.

"TCS Optumera is helping leading retailers move away from traditional calendar-based category resets and pivot to intelligent merchandizing and supply chain strategies incorporating 'always-on' optimization, offer intelligent assortments aligned with market dynamics and shifting customer preferences, curate shoppercentric omnichannel experiences and drive growth," said Shankar Narayanan, Business Group Head - Retail, CPG, Travel & Hospitality, TCS.

By running its algorithms on thousands of factors that impact business KPIs, including shopper preferences and competitive assortment, TCS Optumera™ Assortment Optimization enables leading global retailers to hyper-localize assortments across stores and online channels, rationalize their SKUS, and help shoppers find what they need, maximizing sales and profitability. A sub-module, Competitive Assortment, uses a threetier matching algorithm to provide retailers insights about gaps in their assortment, versus competition.

TCS Optumera Fashion Assortment leverages AI and computer vision capabilities using attributes, images, and trends to provide hyper-localized, size-profile based item recommendations helping retailers curate the right mix of products that resonate well with shoppers and improve sales.

TCS Optumera is part of the TCS Algo Retail™ suite which enables retailers to seamlessly integrate and orchestrate data flows across the retail value chain, harnessing the power of analytics, AI and machine learning to unlock exponential business value.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2761.2 as compared to the previous close of Rs. 2796.5. The total number of shares traded during the day was 108436 in over 4807 trades.

The stock hit an intraday high of Rs. 2795 and intraday low of 2756. The net turnover during the day was Rs. 300368613.

1 Gartner, "Market Guide for Retail Assortment Optimization Applications in Merchandising", Robert Hetu, October 2020

Source : Equity Bulls

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