Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has been named a Representative Vendor in the 2022 Gartner Market Guide for Retail Assortment Optimization Applications in Merchandising. TCS has been recognized for its AI-powered retail strategic intelligence platform, TCS Optumera™, that enables retailers to seamlessly orchestrate data across the value chain, and make optimized decisions across space, assortment, price, promotion, markdown, and supply chain.
TCS Optumera Omnichannel Assortment Optimization leverages AI to recommend the right mix across channels considering over 1,000 factors that influence sales such as the consumer decision tree, demand transferability, and product affinity. It helps strike a balance between variety and availability to curate the perfect basket based on shopper insights. With its integrated, hyper-localized, always-on optimization of KPIs, the platform enables retailers to seize missed opportunities, rationalize stock keeping units, and helps shoppers find what they need, when they need it, maximizing sales and profitability.
TCS Optumera Competitive Assortment leverages a sophisticated three-tier matching algorithm to provide retailers insights about gaps in their assortment versus competition. TCS Optumera Fashion Assortment leverages AI and computer vision on attributes, images, and trends to provide hyper-localized, size-profile based item recommendations.
Retailers using TCS Optumera have reported 3-5% increase in sales, 30%-50% reduction in time spent, 20-30% reduction in costs, and execute 5x more strategies.
"TCS Optumera is helping retailers pivot from building assortments based on demand to shaping demand with localized and personalized assortments. By priming their category management with the interplay of art and science, retailers can not only curate the product mix customers love to see but also remove underperforming and obsolete products thereby reducing wastage and maximizing profits." said Shankar Narayanan President, Business Group Head, Retail Cluster, TCS.
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 Limited was last trading in BSE at Rs. 3373.95 as compared to the previous close of Rs. 3365.25. The total number of shares traded during the day was 86210 in over 9748 trades.
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