Originally published by IBM, November 14, 2016
Written by Matt McGovern
Do you ever wonder how your holiday favorites are always in stock, no matter what the latest trends are, and no matter whether you’re online, on your mobile device or in the store? How do retailers anticipate what “THE” big item is going to be that year? Where do these goods come from? How far in advance do retailers need to plan in order to get the goods to the store or online in time for the holiday rush?
TransVoyant is a big data analytics company that applies real-time streaming data to help supply chain professionals avoid holiday inventory stress by coordinating a retailer with the specific product inventory needed in store and online.
Knowing in-market consumer desires and being prepared ahead of demand is key for all retailers in order to avoid end-consumer disappointment. TransVoyant helps their customers plan inventory decisions based on past inventory trends, seasonality, workflows/planning cycles, and customer sentiment via social media.
And then after the order, TransVoyant can help a retailer track, in real time movement, where their ordered goods are, for example, if they need it in the stores for a specific date to launch their holiday display. Retailers can even see their ordered supplies move in real time via the specific vessel of transportation: over air, on the road, or in the water, so that they can fully plan around inventory arrival times with confidence.
Listen as Scott Byrnes, Vice President of Marketing for TransVoyant, a technology partner of IBM, shares how his company helps its clients prepare for a successful holiday and plan to avoid supply chain disruption. Having partnered with IBM, TransVoyant’s Precise Predictive Logistics Solution can give its clients the visibility to know where their goods are so they can get what they want when they want it, meeting demands and filling orders.