In today’s data-driven landscape, retailers are consistently seeking innovative means to enhance operational efficiency, productivity, and maintain their competitive edge. Among the technological innovations transforming the industry is Generative Artificial Intelligence (AI). It is revolutionising the management of data and operations in the retail business, particularly in the context of Enterprise Resource Planning (ERP) processes. In this blog post, we share how generative AI is transforming retail ERP processes, with a particular focus on the game-changing impact of Excellent Zephyr’s EVE.
Generating Reports & Data Query
An enduring challenge in the retail sector is efficiently managing and analysing vast data volumes. Generative AI simplifies this challenge by automating report generation and data querying. It empowers ERP systems to comprehend natural language queries, thereby enabling users to request data without necessitating extensive coding skills or specialised training.
Consider a scenario where a retail manager asks, “What were the Q3 sales figures for our online store?”. AI allows the ERP system to interpret this query, extract the pertinent data, and generate a comprehensive report within moments. This not only saves time but also equips decision-makers with real-time insights.
Creating Insightful Summaries & Automating Core Processes
In addition to generating reports, generative AI excels at creating insightful data summaries. Retailers can now receive concise, user-friendly briefs about various facets of their business, such as sales trends, inventory levels, and customer behaviour. This simplifies the task of identifying patterns, anomalies, and opportunities for improvement.
Furthermore, generative AI automates essential processes within ERP systems. For example, it contributes to inventory management by forecasting demand and optimising stock levels, thereby mitigating the risks of overstocking or understocking products. In the domain of order processing, AI automates repetitive tasks, reducing errors and enhancing order accuracy.
Oracle Netsuite Introduces Generative AI
Prominent ERP providers have acknowledged AI’s potential in transforming retail, and are starting to integrate it into their systems. Oracle Netsuite, the leading player in the ERP industry, has recently announced the incorporation of generative AI into its suite in the form of ‘Text Enhance’.
You can find more details about Oracle Netsuite’s Generative AI integration here.
Excellent Zephyr Introduces EVE for Retailers
In the realm of forward-thinking technology, we are now taking this innovation a step further by introducing our AI NetSuite Assistant, EVE, tailored for retailers. EVE is a generative AI solution meticulously designed to reshape ERP processes within the retail sector. It boasts a wide array of capabilities that will enhance operational efficiency and data-driven decision-making.
EVE offers the seamless integration of generative AI into existing NetSuite systems. EVE’s flagship functionality includes producing shortcuts for rapid navigation, fetching any custom data set instantly, generating actionable role-based reports, building sophisticated department strategies, and creating insightful summaries. EVE’s versatility is an invaluable asset for retail businesses. If you’d like to learn more about EVE’s flagship functionality you can discover more here.