In an environment where “Location is Everything”, grocery warehouse retailer turns to machine learning for smarter location models.
Tango, the leader in Store Lifecycle Management (SLM) software solutions and Integrated Workplace Management System (IWMS) solutions today announced that long-term customer, Smart & Final, has upgraded their license for Tango’s retail software suite. Smart & Final, with more than 250 grocery stores, has also engaged Tango for an updated sales forecast model to respond to broad changes in the retail environment.
“Recent events have changed the way people shop, and leveraging sales forecast models based solely on historical data no longer provides the complete picture on future performance,” explains Anthony Bernardini, Group Vice President, Real Estate at Smart & Final. “Tango’s AI-based sales forecast models and unique data sets allow us to uncover new predictive relationships which provide the increased confidence we need to make the best site decisions in a post-pandemic world.”
Even retailers who offer essential products during the pandemic, like Smart & Final, must recalibrate their location strategy to reflect changed omnichannel consumer needs, and a sales forecast model built for the next normal is a top requirement.
“Tango is happy we can help customers like Smart & Final adapt quickly to a changing business environment,” says Pranav Tyagi, Tango’s President & CEO. “Machine learning-powered models, that rapidly recalibrate with any new information, help retailers understand the new normal quicker, enabling them to react faster and recover sooner. Machine learning techniques are tailor-made to address the rapidly changing impact of closed competition or shifting consumer patterns, and provide the user with a forward-looking Sales Forecast that reflects a post-COVID environment.”
As users of Tango’s entire SLM suite, Smart & Final is also compliant with the FASB ASC 842 lease standards which come into effect for private companies at the end of 2021.
For more information on how Tango can help reimagine the future of retailer, please visit Location is Everything: https://dev-tango-analytics-original.pantheonsite.io/blog/location-is-everything-part-1/