Celect Recognized as Innovative Tech Start-Up in The Leading 100

I’m thrilled to share the news of Celect’s recognition in The Leading 100, an annual list that recognizes break-out technology start-ups driving innovation in the fashion and retail industry.

This list is curated by The Lead, a research firm that bridges the fashion and retail industry with the global Silicon Valley to empower the industry’s transition to digital centricity. They’re focus is at the crux of where fashion, retail and technology markets converge – where innovation is shifting behavior and constantly creating new business opportunities.

In an industry undergoing an unprecedented transformation where in-store revenues and foot traffic are in decline, bottom line improvements require a clear understanding and ability to adapt to customers’ ever-changing needs in advance, across multiple channels. That’s exactly where Celect comes in.   

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

Celect in the News: Inventory Mgmt 2.0

In an Amazon Prime world, omni-channel retailers are challenged to manage multiple sources of demand when customers expect everything in stock all the time, whether they are in the store at 1 p.m. or online at 1 a.m. To beat the real-time “last mile” supply chain challenge, retailers must be able to compete with Amazon by leveraging their stores and distribution centers as one unified distribution center to achieve massive margin gains. 

In the latest issue of Inside Outdoor Magazine, John Andrews, CEO of Celect, shared how retailers have a huge opportunity to derive more revenue from their inventory decisions and beat Amazon at its own supply chain game.

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Topics: amazon, amazon prime, artificial intelligence, inventory optimization, brick-and-mortar retail, physical stores, machine learning, fulfillment optimization, advanced analytics

Retail TouchPoints Announces Lucky Brand as Winner of 2019 Retail Innovator Award

We are thrilled to share the announcement of Lucky Brand as a winner for the 2019 Retail Innovator Award because of their work with Celect to optimize inventory decision-making! Retail TouchPoints (RTP), the industry's go-to source for the latest retail trends, strategies and technology innovation, has announced the 2019 Retail Innovator Award winners and names Mike Relich, Chief Operating Officer at Lucky Brand, and Miles Barger, Vice President of Merchandise Planning, Allocation, and Inventory Optimization at Lucky Brand, as winners in the category of Data Guru.

In its sixth year, the Retail Innovator Awards honor retail executives and thought leaders who: 

“[T]hink outside the box to develop and foster innovative concepts and strategies that help move the overall retail industry forward.” 

There were 100 nominations in total and the list of 18 winners was announced at today’s Retail Innovation Conference in New York City. Those who attended the event heard directly from Miles Barger, who shared Lucky Brand’s success story on using advanced analytics to optimize allocation and store fulfillment using Celect.

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Topics: allocation, artificial intelligence, inventory optimization, brick-and-mortar retail, physical stores, machine learning, fulfillment optimization, advanced analytics, awards

Learn How Gartner's Algorithmic Approach to Merchandising is Changing Retail

“Algorithmic retailing is the application of big data through advanced analytics across an increasingly complex and detailed multichannel retail structure to provide for customer expectations that are driven higher by consumerization of retail.” – Gartner, Inc.

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Topics: artificial intelligence, inventory optimization, brick-and-mortar retail, physical stores, machine learning

Why Our Partnerships Help Retailers Succeed

Henry Ford once said, that "a customer can have a Model T in any color they want as long as it is black." This worked when there was only one game in town, but when General Motors started offering consumers options, the rules of the game changed. A similar shift is now happening in retail as traditional brick-and-mortar retailers offer a variety of fulfillment options for consumers demanding faster, cheaper, and more convenient delivery options. 

Yet, providing these new fulfillment options successfully, whether it's ship-from-store (SFS) or buy-online-pickup-in-store (BOPUS), requires a new way of thinking about existing processes, organizational frameworks, and technology. To help prospective clients tackle these new retail processes and changes, Celect has partnered with top-tier retail consulting companies across the globe who know change management, retail, and I/T. With these new alliances, our clients have trusted advisors who can help them with the process changes needed to reap the benefits of artificial intelligence and machine learning (AI/ML) technology for successfully tackling inventory and fulfillment challenges plaguing retailers today. 

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Topics: artificial intelligence, inventory optimization, brick-and-mortar retail, physical stores, machine learning

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