The Adoption of AI for Price and Promotion Management In Retail and Manufacturing
May 26, 2020
This report is based on a survey of marketing, merchandising, and pricing directors and executives and aims to assess their priorities, challenges, and plans with regard to decision automation in the area of revenue management. The main topics of this study include the following:
- What are the priorities of use cases that can be improved using AI/ML technologies?
- What are the challenges and pain points in the price and inventory optimization areas?
- What tools and capabilities do companies need for efficient price and inventory management?
- Are there any common barriers to adopting AI/ML solutions for price and inventory optimization?
- Are companies ready to try new price and inventory optimization tools?
Most of the data points in this report come from a commissioned study conducted by Forrester Consulting on behalf of Grid Dynamics, and some illustrative examples come from a survey of tier-one retailers and manufacturers conducted by Grid Dynamics.