Lowe’s plans seasonal inventory with AI
Lowe’s Companies Inc. is partnering with a consulting firm and a provider of AI-based merchandising technology to enhance inventory planning.
The home improvement giant is working with Accenture and Relex to combine delivery, advisory and industry experience from Accenture with artificial intelligence (AI)-driven technology from Relex to support its seasonal inventory planning.
Lowe's is attempting to improve its seasonal planning on the heels of several efforts to provide customers with a more personalized shopping experience. The retailer recently debuted a new VR design feature called Lowe’s Style Studio for Apple Vision Pro, which is controlled by a user's eyes and hands, allowing customers to enter an immersive 3D kitchen scene.
Lowe’s also recently launched the new MyLowe's Rewards program for customers, with features such as a customized in-app experience and personalized recommendations.
"Our selection of Relex was driven by its proven expertise in the home improvement retail sector. We were particularly impressed by their advanced, AI-driven approach and the flexibility of their inventory management systems," said Camille Fratanduono, senior VP of inventory, replenishment and planning at Lowe’s. "Relex is well-known for their automation capabilities and exceptional dashboard. Working with both Relex and Accenture aligns with our ongoing commitment to leveraging innovative solutions to enhance our business processes."
"This collaboration marks a milestone in the Relex journey and the start of our strategic partnership with Accenture," said Relex senior VP for North America Keith Adams. "Our deep experience in the home improvement retail sector proves how our AI-driven solutions are designed to cater to the unique demands of large-scale retail operations, in order to ensure optimal inventory levels and improve customer satisfaction. This announcement reflects our commitment to delivering top-tier solutions and supports our vision of becoming the go-to provider for inventory optimization in diverse retail settings."
"Agile, digital supply chain networks can drive growth and profitability in challenging times of ongoing disruption," said Jill Standish, global lead of Accenture’s retail industry practice. "Together with Relex, we are helping companies like Lowe’s on a journey to improve operational agility and responsiveness to meet customer expectations."
Based in Mooresville, N.C., Lowe's operates over 1,700 home improvement stores and employs approximately 300,000 associates.