SpartanNash (SPTN) Enhances Grocery Operations Using AI Tools
SpartanNash Company SPTN, a prominent food solutions company, is leveraging AI tools to improve operational excellence and predict product demand. The company is making significant strides in optimizing its operations and improving customer experience. Its recent expansion of the use of Upshop's Magic inventory and replenishment optimization application signifies its commitment toward efficiency, customer satisfaction and cost savings.
The move serves multiple purposes. First, it facilitates the consolidation of ordering systems, streamlining the intricate process of managing product inventories. Second, the Magic application proves to be a valuable asset in the meticulous planning of merchandising resets. It empowers the company to make data-driven decisions, particularly in the center store and produce department.
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What’s More?
One of the most significant advantages of the Magic application is its ability to provide store associates with a real-time, comprehensive view of the store's stock. This feature empowers the company to curate an optimal assortment of products for guests while simultaneously minimizing waste.
The application is custom-tailored for the grocery industry, where seasonal trends, promotional activities, display allocation and real-time sales data play pivotal roles in shaping inventory management. This application analyzes these factors to offer actionable insights that not only improve inventory accuracy but also elevate guest satisfaction.
SpartanNash's commitment to technological innovation is not limited to the Magic application alone. The company has recently unveiled ambitious plans for the deployment of autonomous inventory robots, which will provide invaluable real-time data intelligence.
These investments align perfectly with SpartanNash's broader merchandising and supply-chain transformation strategy, aimed at delivering an enhanced customer experience while achieving substantial cost savings.
Wrapping Up
As SpartanNash continues to invest in cutting-edge technology and data-driven solutions, it is poised to redefine the grocery shopping experience. Shoppers can anticipate more personalized, efficient and enjoyable visits to SpartanNash stores.
Shares of this Zacks Rank #2 (Buy) company have fallen 7.2% in the past three months against the industry’s growth of 12.5%.
Three Solid Picks
Below we have highlighted three other stocks, namely Sprouts Farmers Market, Inc. SFM, Walmart Inc. WMT and Celsius Holdings CELH.
Sprouts Farmers Market operates in a highly fragmented grocery store industry. It currently sports a Zacks Rank #2. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
The company has an expected EPS growth rate of 9.3% for three to five years. The Zacks Consensus Estimate for Sprouts Farmers Market’s fiscal 2023 earnings and sales indicate growth of 14.6% and 5.7%, respectively, from the previous year’s reported figures. SFM has a trailing four-quarter average earnings surprise of 14.3%.
Walmart has evolved from being a traditional brick-and-mortar retailer into an omnichannel player. It currently sports a Zacks Rank #2. It has an expected EPS growth rate of 6.6% for three to five years.
The Zacks Consensus Estimate for Walmart’s fiscal 2023 earnings and sales indicates growth of 2.1% and 5%, respectively, from the previous year’s reported figures. WMT has a trailing four-quarter average earnings surprise of 11.6%.
Celsius Holdings, which offers functional drinks and liquid supplements, currently carries a Zacks Rank #2. CELH delivered an earnings surprise of 100% in the last reported quarter.
The Zacks Consensus Estimate for Celsius Holdings’ fiscal 2023 earnings and sales indicate growth of 168.8% and 88.9%, respectively, from the previous year’s reported figures.
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Walmart Inc. (WMT) : Free Stock Analysis Report
SpartanNash Company (SPTN) : Free Stock Analysis Report
Sprouts Farmers Market, Inc. (SFM) : Free Stock Analysis Report
Celsius Holdings Inc. (CELH) : Free Stock Analysis Report
