Andrea Morgan-Vandome

Recent Posts

The $210 Billion Inventory Disconnect Hurting Retail Sustainability Efforts

Currently, there is a $210 billion disconnect between what consumers want to buy and what retailers have in stores. This inventory distortion reflects a severe misalignment within the retail industry, but, even more disturbingly, it also reveals the harrowing impact inventory stocking practices have on our environment. As retailers attempt to align stock with potential demand, many find themselves with substantial inventory pile-ups due to overstocking stores, eventually lending towards unwanted markdowns or wasted inventories. In fact, every year retailers produce over 150 billion garments – of which a whopping 30% are never even sold. Not only does this discrepancy result in huge margin losses for retailers, but it also contributes to the 12.8 million tons of merchandise tossed in landfills each year.

From a sustainability perspective, these numbers show the retail industry’s impact on our environment, as well as the social responsibility retailers must assume to minimize inventory waste. However, inventory waste is not the only culprit as other resources necessary for inventory production also force a hard hit on Mother Nature. For instance, a single t-shirt requires 2,700 liters of water for production – the same amount the average person consumes in 2.5 years. Even more upsetting, a basic pair of jeans needs 7,000 liters of water to produce.

Read More

Topics: retail technology, artificial intelligence, inventory optimization, machine learning, advanced analytics, innovation, sustainability, sustainable fashion, eco-friendly retailing

Retail TouchPoints: How Retailers Can Compete With Amazon At Its Own Supply Chain Game

Read the latest article by Retail Touchpoints, featuring Andrea Morgan-Vandome, CMO of Celect, to learn how retailers are taking a page from Amazon's own playbook and using their store network as one unified distribution center to achieve massive margin gains. 

While few things remain constant in retail, the customer always comes first. And in today’s Amazon Prime world, customers demand faster, cheaper and more convenient fulfillment options than ever before. Retailers are scrambling to keep pace, offering everything from pre-selected delivery slots and buy online, pick up-in-store (BOPIS) to two-hour delivery windows in an effort to provide the seamless, channel-less experience customers expect.

Yet retailers are struggling to accurately determine what, when, where and how much customers will buy. To beat this real-time “last mile” supply chain challenge and successfully compete with Amazon, retailers must take a page from the retail giant’s own playbook and leverage their stores as one unified distribution center to achieve massive margin gains. 

Read More

Topics: retail technology, artificial intelligence, inventory optimization, brick-and-mortar retail, machine learning, advanced analytics, innovation

Gartner: What Retail CIOs Need to Know About AI for Merchandising

“Seventy-seven percent of the retailers surveyed have deployed or have plans to deploy AI for retail strategy. Of those, 92% are targeting AI-based primary merchandising processes for implementation by 2021.” – Robert Hetu, Gartner

Gartner’s latest report delves into important key priorities for retail CIOs to consider when transitioning to AI technology.

According to a recent Gartner report, What Retail CIOs Need to Know About AI for Merchandising, retailers are shifting their operational focus towards automation and customer centricity with the adoption of AI. However, as retailers undergo this conversion, major transformations will take way on their merchandising processes, making it vital for CIOs to understand the implications of AI on product development and selection, planning, buying, demand forecasting, and allocation and replenishment.

Read More

Topics: retail technology, artificial intelligence, inventory optimization, brick-and-mortar retail, machine learning, advanced analytics, innovation

3 Takeaways from the 2019 Lead Innovation Summit

Earlier this week I had the pleasure of attending the 2019 Lead Innovation Summit, an event where the entire fashion and retail innovation community converges to explore what comes next for the industry. This flagship event, hosted by The Lead (a research firm focused at the crux of where fashion, retail and technology markets converge), aims to bring together brands and retailers, digital natives, recognized tech start-ups, analysts, real estate operators, enterprise tech leaders, creatives, and academics to discuss some of the most pressing topics around how innovation is shifting behavior and constantly creating new business opportunities within retail.

Because of our latest recognition in The Leading 100, an annual list that recognizes break-out technology start-ups, Celect was invited to participate in these conversations, especially as a cutting-edge technology company uniquely positioned in the legacy retail industry to solve a very distinct problem. The unique problem, for Celect, is providing retailers a reliable way, through patented artificial intelligence and machine learning (AI/ML) technology, to anticipate consumer demand at a hyper-localized level and make smarter, more profitable decisions throughout the inventory life-cycle. Ultimately, we want to help retailers make more informed inventory investments catered toward a true understanding of customer demand.

Read More

Topics: retail technology, artificial intelligence, inventory optimization, brick-and-mortar retail, machine learning, advanced analytics, innovation

Lucky Brand Wins Apparel 2019 Top Innovator Award

We have some exciting news to share! Lucky Brand was recently recognized as an Apparel 2019 Top Innovator because of their work with Celect. This annual award, sponsored by Apparel Magazine, recognizes apparel retailers, brands, and manufacturers who demonstrate notable innovation in their business, as well as the strategic partners that foster such success.

Read More

Topics: retail technology, artificial intelligence, inventory optimization, brick-and-mortar retail, machine learning, advanced analytics, innovation

Ready for more?

Request a Demo