The fourth quarter typically signals businesses across the globe to wrap up their activities and begin to consider annual planning. For global unattended retail technology leader, 365 Retail Markets, it catalyzes second gear.
In the third quarter 2022, the company announced its partnership with Custom Data Solutions Inc. (CDSI), the country's leading data collection, processing and reporting company. Now that the ink on the partnership is dry, the two organizations are devising major plans to improve the industry.
365 and CDSI designed their partnership to facilitate collaboration on best-in-class data analytics and insights products for their combined customer list. The venture maximizes their customers’ top-line revenue by optimizing the product mix and placement as well as their bottom-line revenue through improved merchandising and operational efficiencies.
“Our goal is to provide long-term, actionable benefits to all of our clients,” said CDSI president and CEO, Michael Nudi. “As the food service industry continues to re-invent itself and consumer packaged goods (CPG) manufacturers continue to look for new business growth opportunities, data insights become the crux of progress. CDSI is excited to partner with 365 to develop these opportunities.”
Joe Hessling, 365 CEO, added, “Our relationship with CDSI fits well within the 365 long-term strategy to provide value and insight to our operators worldwide by leveraging data from the billions of transactions on our platform. The partnership with CDSI has been a long time coming, and I am thankful to Michael L. Nudi and Jim T. Powers for driving this collaboration to advance our goals of continuously strengthening our value proposition for our customers.”
365 Retail Markets and CDSI are collaborating to provide all levels of the supply chain with the following benefits:
- Optimized product mix for their entire operations.
- Automated merchandising decisions leveraging machine learning and artificial intelligence.
- Product selection-consumer preference matching.
- Maximized consumer and client engagement.
- Streamlined picking/warehousing operations.
- Maximized revenue opportunity through brand partnerships.
As all of the operational integration related to the partnership is completed, stakeholders can expect to realize the benefits to their operations in early 2023.