How fashion brands predict the future
Inventory management is a mystery to even the biggest players in the space because it requires not only nimble decision-making on the production side as orders roll in but also a sense of fortune-telling. Recent technology, however, could be a major game changer — but only if retailers do it right.
New York, United States, August 16, 2019
by Cathaleen Chen
[…] “Machine learning is just correlation on steroids, an evolution of inputs and outputs,” said Fabrizio Fantini, founder of Evo, a start-up that uses data as diverse as historical sales numbers to global trends to the weather to predict how different styles of clothing will perform in various markets, or even individual stores. “It’s the plug and play version of what we used to do manually, with Excel.”
But AI isn’t meant to replace traditional buyers, Evo’s Fantini added. “The job changes but in my world, merchandisers still have a birds-eye view and the capacity to control inventory,” he said. “With my clients, they’ve hired more people actually.”
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