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The ‘Art of What’s Possible’ with Celect Inventory Optimization Suite

I’ve spent my entire career in the retail industry, in various roles, both working directly for retailers and as a consultant. These experiences gave me an opportunity to view the retail industry through a number of different lenses. As a result, I’m often asked what is on a retail CEO’s mind in today’s current business climate, to which I typically answer, with certainty, one thing: inventory.

Inventory optimization, inventory effectiveness, how to improve inventory decisions in an omni-channel world. Inventory remains the top challenge for most retailers, as seen from the $1.4 trillion inventory problem stemming from lost sales and excessive markdowns. New realities force the need for a new approach. While customer expectations have changed and retail operations and execution have changed, inventory decision-making (for the most part) has not. 

The fact of the matter is that inventory is a complex problem and complex problems do not have simple answers.

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

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

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