Nextail recognized as a Representative Vendor in the 2022 Gartner Market Guide for Retail Forecasting, Allocation and Replenishment Solutions
Nextail, the leading AI inventory management platform, has been named as a Representative Vendor in the latest Gartner “Market Guide for Retail Forecasting, Allocation and Replenishment (FAR)* Solutions”. One of only two specialty FAR vendors mentioned in this report.
Nextail offers Forecasting, Allocation and Replenishment (FAR) solutions that enable fashion and collection-based retailers to maximize sales potential while lowering inventory levels.
In its report, Gartner explains that retailers relying on homegrown, manual, and/or dated planning tools and applications are struggling to meet unprecedented demand and supply chain disruptions, which in turn is, “driving a growing number of companies to reevaluate their forecasting, allocation and replenishment planning software capabilities.”
Furthermore, Joaquin Villalba, CEO of Nextail, adds, “Reality will keep challenging current practices of business planning. In a world where change keeps accelerating, companies need to digitalise decision making in order to achieve the business agility required to survive.”
The report finds that newer entrants in the FAR vendor market, “are more likely to have architected their FAR applications on artificial intelligence (AI) and machine learning (ML) technologies, whereas more mature vendors have rebuilt and extended planning applications to leverage these technologies.” Gartner notes that “increasing availability of FAR solutions enabled by AI and ML are with a growing number of use cases for performing accurate product clustering, understanding and predicting consumer behaviors, and facilitating the automation of decision making.”
Commenting on the recognition, Villalba continued, “We are proud to have been named in this Gartner ‘Market Guide for Retail Forecasting, Allocation and Replenishment Solutions’. We believe, it acknowledges our work powering brands and retailers to build better businesses, more resilient in the face of disruption. Nextail offers a shift in paradigm, enabling targeted automations that were not possible to achieve before. As a result, Nextail frees up retail teams from time-consuming manual work, creates happier customers who enjoy better shopping experiences, and consumes less resources from the planet through the reduction of leftovers.”
Through the use of Nextail’s forecasting, allocation and replenishment solutions, customers grow sales while typically seeing 30% lower coverage levels and 60% fewer stockouts in addition to being able to increase the sustainability of their operations by reducing leftovers and overproduction.
*Acronym: FAR (Forecasting, Allocation and Replenishment)
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Nextail is an inventory management platform that empowers retailers to sell more with less stock through hyper-local demand forecasting and agile automation. By increasing stock efficiencies across channels, retailers can automate the science of retail and dedicate more time to creative and strategic work.
Customers typically see sales increases up to 10%, 30% lower coverage levels, and 60% fewer stockouts in addition to being able to increase the sustainability of their operations by reducing leftovers and overproduction. Nextail works with more than 60 global brands, including River Island, Versace, and Pepe Jeans. For more, visit nextail.co