Artificial Intelligence in Food Retail : An Investigation of Forcasting in a Price Volatile and Promotion-Driven Food Retail Industry

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Creators:	Mayer, Julian and Wucher, Julia and Drechsel, Pia and Kracklauer, Alexander
Title:	Artificial Intelligence in Food Retail : An Investigation of Forcasting in a Price Volatile and Promotion-Driven Food Retail Industry
Item Type:	Article or issue of a publication series
Journal or Series Title:	Sales Manager - Fachmagazin für marktorientierte Unternehmensführung
Page Range:	pp. 25-31
Additional Information:	Open Access
Date:	2023
Divisions:	Wirtschaftswissenschaften
Abstract (ENG):	Characteristic of food retailing is a diverse product range with up to 50,000 items, which are advertised by numerous promotions. In addition, sales forecasts are becoming increasingly important due to increased competitive pressure, which creates the need for improved forecasting accuracy. These increasingly complex framework conditions mean that managers are reaching their limits more frequently in terms of demand and supply management. As a result, more and more companies in the food retail industry are turning to the support of AI for forecasting. Based on a literature review and expert interviews, this paper presents a flow chart of how to proceed with the establishment of Artificial Intelligence (AI).
Forthcoming:	No
Language:	English
Link eMedia:	Download
Citation:	Mayer, Julian and Wucher, Julia and Drechsel, Pia and Kracklauer, Alexander (2023) Artificial Intelligence in Food Retail : An Investigation of Forcasting in a Price Volatile and Promotion-Driven Food Retail Industry. Sales Manager - Fachmagazin für marktorientierte Unternehmensführung (7). pp. 25-31. ISSN 2367-0274

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