How can AI be utilized to optimize inventory management in retail?
- By keeping inventory levels constant throughout the year.
- By outsourcing inventory management.
- By predicting demand and automating restocking.
- By randomly restocking products to maintain variety.
AI in inventory management leverages predictive analytics to forecast demand based on historical data, seasonality, and market trends. It helps retailers automate restocking processes, ensure optimal stock levels, reduce overstocking and understocking issues, and ultimately improve efficiency and profitability.
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