According to Golovin, each year, the retail sector loses $100’s of billions in revenue globally to addressable retail execution issues like out-of-stocks. Coupled with a lack of collaboration and absence of real-time, accurate data sharing across the value chain, this has resulted in an industry that struggles with multiple execution issues such as phantom inventory levels, out-of-stocks and promotional errors. To tackle the situation, RSi provides cloud-based Big Data analytics and real-time intelligence for consumer goods manufacturers and their retailer partners. Its Software-as-a-Service (SaaS) data platform integrates with both internal and external systems such as enterprise resource planning, daily POS and inventory data to capture near real-time demand signals to drive mission critical operational systems including vendormanaged inventory software, to enhance planning.
“We are living in a digital era where consumers have round-the-clock access to prices and product availability at their fingertips. CIO’s have to figure out how to work with the flood of potential data sources and utilize the information, to make it relevant and sharable across multiple systems, accessible securely via userfriendly tools,” adds Golovin.
RSi’s cloud-based solutions bring together retailers, their data, their suppliers and their customers. “We offer the end-user a variety of tools that allow them to leverage the data and visualize it – making it easy to act, share and report. Retailers pass on their Point-Of-Sale (POS) data to RSi, whose platform then collects, loads, cleanses and harmonizes billions of data points each day and provides it to brands via a suite of applications designed to better understand what products are selling, where and why.
We offer the end user a variety of tools that allow him/ her to leverage the data and visualize it – making it easy to act, share and respond to the shopper’s needs
By leveraging the company’s proprietary algorithms, business processes and suite of intelligent cloudbased applications, many of the world’s leading CPGs are better listening and responding quickly to consumer needs – ensuring the right product is in the right store at the right time. “We take inventory management and replenishment paradigms - and integrate real customer demand with advanced analytics and use cases,” adds Golovin. Brands like Colgate-Palmolive, Nestlé and Procter and Gamble have associated themselves with RSi’s solutions and are able to manage inventory coverage in near-real time and forecast orders based on actual sales – by item, by store, and by day – ensuring each step of the supply chain has the optimal inventory to maximize accessibility.
In addition to intelligent crowd sourcing that helps solve in-store problems in near real-time, the company is working on a new set of collaborative business processes with a hyper-local, personalized focus for the future. “Things like localizing assortments to meet the level of personalization expected by today’s shopper, enables suppliers to customize plan-o-grams by neighborhood for what buyers in that market at that store want,” concludes Golovin.