Tata Consultancy Services' retail optimisation suite, TCS Optumera™, leverages AI to curate shopper-centric assortments across stores and channels to drive sales and profitability
New York I Mumbai: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organisation, has been named a Representative Vendor in the 2021 Gartner Market Guide for Retail Assortment Management Applications: Long Life Cycle Products1, for TCS Optumera™, its award-winning AI-powered retail optimisation suite.
By harnessing the power of data, machine learning and artificial intelligence, TCS Optumera helps retailers to rapidly execute changes by rendering key merchandising processes intelligent and autonomous. Its self-learning, multi-dimensional concurrent optimisation enables superior, integrated decision-making around space, assortment, pricing and supply chain. Retailers using TCS Optumera have reported a 3-5 percent increase in sales, 30-50 percent reduction in time spent, 20-30 percent reduction in costs, and have executed 5x more merchandising and other strategies.
TCS Optumera Omnichannel Assortment considers product characteristics in addition to over 1,000 factors that impact sales, and helps retailers optimise and right size their store category spaces, curate cross-channel assortments with always-on optimisation at scale, ensuring availability through better visibility and alternate sourcing. TCS Optumera Competitive Assortment leverages a sophisticated three-tier matching algorithm to provide retailers insights about gaps in assortment and recommends new product onboarding opportunities. Other Optumera modules include macro space optimisation, omnichannel assortment optimisation, self-learning supply chain, price promotion and markdown optimisation.
“Leading global retailers are leveraging TCS Optumera to hyper-localise assortments across channels, rationalise their SKUs, and take informed data-driven, customer-centric decisions, resulting in increased sales and profitability,” said Shankar Narayanan, business group head, Retail, CPG, Travel and Hospitality, TCS.
The flagship product TCS Optumera is part of the TCS Algo Retail™ suite of products and platforms that enables retailers to seamlessly integrate and orchestrate data across the retail value chain, harnessing the power of analytics, AI and machine learning to unlock exponential business value.
1 Gartner, Market Guide for Retail Assortment Management Applications: Long Life Cycle Products, Robert Hetu, May 25, 2021
