STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Nandan Mandayam and Siddharth Cavale
The software is just one example of the novel ways retailers are trying to keep their inventories under control. Excess stock dragged profits last year for Walmart, Target, Kohl's, Macy's and Gap. The Bentonville, Arkansas-based retailer's use of algorithms to forecast demand and its use of robotics helped it make the"adjustments that we needed to make when things changed dramatically on us last year," Walmart CEO Doug McMillon said on Tuesday at an investor conference.Overall Walmart's goal is to manage its stores so that its operating profits increase at a faster rate than its sales, its executives said.
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