parcelLab, a provider of post-purchase experience software, has announced the launch of parcelLab Returns Forecast AI. The new tool leverages AI to estimate inbound parcels for retailer warehouses, allowing retailers to forecast returns volumes and identify trend changes more accurately, better plan warehouse resources, reduce processing times and operational costs. Returns Forecast AI is purpose-built for retailers to strengthen their ability to anticipate and mitigate the financial impact of returns, providing more stability.
“The increasing number of returned parcels presents a unique challenge to retailers, who need better visibility to understand trend changes, manage staffing levels, reduce processing times and create effective distribution plans,” said Tobias Buxhoidt, Founder and CEO of parcelLab. “With parcelLab’s Returns Forecast AI, we’re giving warehouse managers and logistics specialists the power to turn that challenge into a business opportunity with a tool they can self-configure to visualize patterns and measure percentage errors. By reducing operational costs and improving financial planning, our Returns Forecast AI delivers a new level of transparency and returns forecast reliability by tapping into the power of predictive planning to make data-driven decisions that will revolutionize the returns process and dramatically decrease operational costs for retailers.”
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