Lowe’s Companies Inc., a leading home improvement retailer, is teaming up with consulting firm Accenture and AI-driven merchandising technology provider RELEX Solutions to revolutionize its seasonal inventory planning. This partnership aims to combine Accenture’s advisory expertise with RELEX’s advanced artificial intelligence technology to optimize inventory management and improve customer satisfaction. This collaboration is part of Lowe’s broader strategy to enhance operational efficiency and provide a personalized shopping experience. Recently, Lowe’s introduced innovative features like the Lowe’s Style Studio, a virtual reality design tool for Apple Vision Pro, allowing customers to visualize kitchen designs in a 3D immersive environment. Additionally, the retailer launched the MyLowe’s Rewards program, offering tailored in-app experiences and personalized recommendations.
Optimizing Seasonal Inventory
The partnership with RELEX Solutions is designed to tackle the complexities of seasonal inventory planning. Using RELEX’s AI-powered tools, Lowe’s can analyze vast amounts of data to predict demand patterns and ensure optimal stock levels across its more than 1,700 stores. Accenture’s deep industry knowledge will provide strategic guidance to integrate and maximize the benefits of this technology. “Our selection of RELEX was driven by their proven expertise in the home improvement retail sector,” said Camille Fratanduono, Senior Vice President of Inventory, Replenishment, and Planning at Lowe’s. “We were particularly impressed by their advanced, AI-driven approach and the flexibility of their inventory management systems. Working with both RELEX and Accenture aligns with our ongoing commitment to leveraging innovative solutions to enhance our business processes.”
Strategic Vision
Keith Adams, Senior Vice President for North America at RELEX, emphasized the significance of the partnership: “This collaboration marks a milestone in the RELEX journey and the start of our strategic partnership with Accenture. Our AI-driven solutions are tailored to the unique demands of large-scale retail operations, ensuring optimal inventory levels and improving customer satisfaction.” Jill Standish, global lead of Accenture’s Retail industry practice, highlighted the importance of digital transformation in retail: “Agile, digital supply chain networks can drive growth and profitability in challenging times of ongoing disruption. Together with RELEX, we are helping companies like Lowe’s enhance their operational agility and responsiveness to meet customer expectations.” Read more on inventory optimization common tools.
About Lowe’s
Lowe’s Companies, Inc. is a FORTUNE® 50 company serving approximately 16 million customer transactions weekly. With over 300,000 associates and more than 1,700 stores in the U.S., Lowe’s recorded fiscal year 2023 sales exceeding $86 billion. The company is committed to supporting communities through programs focused on safe, affordable housing and the development of skilled trade experts.
About RELEX Solutions
RELEX Solutions provides unified supply chain and retail planning solutions, leveraging AI-driven technology to optimize inventory management for large-scale retail operations. Their solutions are designed to meet the unique challenges of diverse retail settings, delivering automation and actionable insights.
About Accenture
Accenture is a global professional services company specializing in digital transformation. With expertise in cloud, data, and AI, Accenture collaborates with leading organizations to drive innovation and operational efficiency, serving clients in over 120 countries.
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