OneView Commerce has integrated its inventory management capabilities with IBM Watson Commerce Insights.
The integration will provide retailers with real-time analytics about product performance, inventory availability, prices, and promotions across ecommerce and store channels.
Functionality like this essentially makes it easier to adjust inventory based on customer behaviors and demands, ultimately leading to greater optimization of omnichannel sales and margins.
Through the integration with IBM's Watson Commerce Insights, OneView's real-time information is now expanded to include the full 360-degree view of stock, order and inventory information from all channels to facilitate actions that lead to timely order fulfillment. OneView will now leverage the IBM Watson's Commerce Insights capabilities, for example, to show metrics such as fastest and slowest moving products by store or region, allowing for immediate action and decisions about how price, promotion or goods movement can improve overall store and retail operations.
"Real-time inventory visibility across the entire supply chain is critical to omnichannel success. It enables merchandisers, product managers, and marketers to meet changing customer behaviors and demand by nimbly managing and adjusting inventory levels and replenishment," said OneView Chief Operating Officer, Linda Palanza.
"The biggest challenge has been store visibility of inventory in real-time as product is being sold. Retailers want to provide services such as click and collect, yet prevent lost sales due to stock-outs. Real-time inventory is key to optimizing sales opportunities and margins since approximately two-thirds of shoppers who experience stock-outs take their business elsewhere or don't buy at all."
The announcement at the National Retail Federation's (NRF) annual Big Show which takes place this week in New York City.