US-based retail technology company Boomerang Commerce has released its new lifecycle performance management (LPM) application for retailers.
Boomerang’s new LPM application will help merchants to predict future challenges, and forecast demand and performance.
Using artificial intelligence, the application recommends actions to mitigate performance risks, and enables merchants and planners see the predicted outcome of their actions.
As a result, retailers will be able to increase sales and improve sell-through.
Boomerang Commerce CEO Guru Hariharan said: “Apparel brands and retailers use Boomerang Commerce technology to maximise earnings while meeting customer expectations in an increasingly dynamic market.
“The Boomerang LPM application allows planners to refine the customer experience and improve the merchandising lifecycle to meet demands and grow revenue.”
Leveraging machine learning to monitor performance and inventory levels, the application saves time in analysis and reduces opportunity cost due to ineffective actions.
The application guides product lifecycle decision-making, recommends multiple decision options, and offers a streamlined user interface for merchants and planners.
It also provides forecasts and simulations for store and online channels, as well as manages the markdown process from the start of the product lifecycle.
Image: Boomerang’s LPM application uses artificial intelligence and recommends actions to mitigate performance risks. Photo: courtesy of Robert Linder via Freeimages.com.