Board: AI Reshapes Planning in the Retail Industry
Software company Board details how AI is transforming retail planning from forecasting to supply chain management, shifting focus from static cycles to continuous, data-driven decision-making.
Retail planning is undergoing a rapid transformation driven by artificial intelligence (AI), enabling more dynamic and responsive operations. According to software company Board, industry planners are moving away from rigid processes towards continuous, intelligence-driven decision-making, covering everything from forecasting and merchandising to supply chain and store execution.
The traditional approach to planning, where forecasts were locked in advance, no longer meets the pace of today's markets. Inflation, demand fluctuations, and margin pressures require constant monitoring and adaptation. "Quarterly reforecasts cannot keep pace with weekly volatility," Board states. The company offers solutions to help finance teams model risks, test assumptions, and connect costs, revenue, and capital on demand.
Merchandising and supply chain planning also benefit from this new approach. Particularly in fashion and general merchandise, planning windows have significantly shrunk, demanding immediate reactions to consumer trends. In supply chains, where exceptions are the new normal, planning must be structurally resilient. Board's solutions assist in optimizing 'Open to Buy,' simulating allocation changes, and anticipating risks across all supply chain stages.
Board emphasizes that planning must extend to store-level operations for strategies to succeed in practice. The software facilitates the translation of strategic decisions into local actions, allowing potential risks to be identified promptly. "Optimizing isolated functions is insufficient, as disconnected plans and decisions quickly lose value," the company highlights. AI-powered agents support decision-makers by monitoring, simulating, and recommending actions in real-time, enhancing companies' ability to act faster and with greater confidence at all levels.
The company views future planning as a continuous system that adapts in real-time to all decisions, functions, and signals. Board aims to empower retail teams with better, connected decisions that improve operational efficiency and adaptability in a changing business environment.