SKU Rationalization, also known as SKU Optimization or SKU Reduction, is a continuous process in the CPG industry used to assess product portfolios with the aim to decrease complexity, prioritize profitable items, and increase space for innovation. With the massive expansion of rich market dataset availability and proliferation of powerful data and analytic tools, we can use Machine Learning at scale to be smarter, more responsive and more data-driven in approaching SKU Rationalization.
In this recorded webcast, Thorogood Consultants Deb Lee and Ben Dunmire outline our experiences with SKU Rationalization Machine Learning initiatives to appreciate the key business drivers and key technology approaches that enable effective implementations. They discuss the value of reliable data pipelines built upon a deep understanding of data and business operations, the role of Machine Learning and AI, and common approaches to grow and nurture data solutions.
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