TECH BUYER Dec 2019 - IDC Perspective - Doc # US45661219

Moving from Maximization to Optimization in the End-to-End Retail Supply Chain Through Digital Transformation

By: Jordan K. SpeerResearch Manager, Global Supply Chain

Abstract

This IDC Perspective discusses the difference between optimization and maximization; how optimization relates to the whole; how there are many "wholes" to consider; how recent significant advances in technology, particularly in artificial intelligence (AI) and in systems that provide data visibility, are enabling optimization that was previously almost impossible to achieve; how retailers can harness these advances to optimize their own enterprises; and how optimizing within an enterprise leads to sustainable developments both within and without an organization, extending to the greater community and the globe at large.

"Why do we maximize? Because optimizing is hard," says Jordan Speer, research manager, Global Supply Chain of IDC Retail Insights. "It requires first a view of the whole an understanding of its various needs, and a means to address them all in balance. While many companies today are moving closer to this goal, the reality is that most are still far from it."


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