The session will showcase how the sporting goods retailer leverages AI-driven inventory optimization solutions from Invent Analytics to maximize product availability, sales, and profitability
PHILADELPHIA, Sept. 27, 2023 — Invent Analytics, an award-winning global retail planning solutions provider, has been selected to present an educational workshop with their client Academy Sports + Outdoors (Academy) at the Retail Innovation & Transformation Assembly, organized by The Millenium Alliance.
In the session titled “Inventory Optimization: How AI Powers New Approach to Profitability,” executives from Invent Analytics and Academy will showcase how the leading sporting goods retailer is using AI-driven inventory planning solutions to drive profitable growth in the omni-channel world. The workshop is scheduled for Oct. 3, 2023, at 5:35 p.m. CDT.
The Retail Innovation Transformation Assembly, taking place October 3-4 in Austin, is a groundbreaking opportunity for C-Level Operating Technology, Merchandising, and Procurement Officers within the retail industry to meet face-to-face and connect on current trends and challenges the industry is facing coming out of the COVID-19 pandemic. The Assembly agenda is data-driven and curated to provide attendees with the knowledge and connections they need to digitally transform their organizations.
Hosted by Gurhan Kok, founder and CEO, and Tav Tepfer, Chief Revenue Officer, Invent Analytics’ workshop will highlight real-world benefits of AI for today’s omnichannel retail supply chains. Gurhan and Tav will be joined by Academy’s Kyle Foulkrod, Senior Director of Logistics and Distribution, and John Jarrett, VP of Merchant System Operations, to discuss how the retailer successfully reduced lost sales, ensured product availability, and optimized profitability across diverse channels through AI-driven inventory management, intelligent demand forecasting, and precise inventory decision-making.
During the session, attendees will learn:
- Top considerations when starting an AI-powered Inventory Optimization project
- How to maximize benefits quickly and test the results to prove quantifiable profit improvement
- How Academy continues to profit-optimize its supply chain from end to end
“Across the retail industry, everyone has been talking about AI’s potential to drive digital transformation,” said Kok. “And in some cases, the possibilities are no longer just theoretical. Inventory and supply chain management is one key area where innovative retailers are already seeing big results. In our session, we hope to show other C-suite retail leaders how AI-powered inventory optimization can transform their supply chain for maximum profitability and customer satisfaction.”
Details at a Glance:
Who: Invent Analytics and Academy Sports + Outdoors
What: “Inventory Optimization: How AI Powers New Approach to Profitability”
When: Oct. 3, 2023, at 5:35 p.m. CDT
Where: The Omni Barton Creek Resort & Spa in Austin, Texas.
To book a meeting at the Assembly with the Invent Analytics team, click here.
About Academy Sports + Outdoors
Academy is a leading full-line sporting goods and outdoor recreation retailer in the United States. Originally founded in 1938 as a family business in Texas, Academy has grown to 273 stores across 18 states. Academy’s mission is to provide “Fun for All” and Academy fulfills this mission with a localized merchandising strategy and value proposition that strongly connects with a broad range of consumers. Academy’s product assortment focuses on key categories of outdoor, apparel, sports & recreation and footwear through both leading national brands and a portfolio of private label brands. For more information, visit www.academy.com.
About Invent Analytics
Invent Analytics is a global retail planning solutions provider that helps leading retailers accelerate their omni-aware demand forecasting, allocation, replenishment, and markdown capabilities using financial profit optimization model and AI-based advanced analytics.
Invent Analytics has been named as a representative vendor in Gartner 2022 Market Guides, including Retail Forecasting, Allocation and Replenishment Solutions and Retail Unified Price, Promotion and Markdown Optimization Applications – Short Life Cycle.