Traditional retailers like Macy's (M) and Kohl's Corporation (KSS) have plenty of work to do to compete with major online players, such as Amazon (AMZN) , during this summer's back-to-school shopping rush. 'There's a tremendous amount of innovation taking place in retail,' said Mike Webster, head of retail at Oracle (ORCL) . 'A lot of it is driven by the changes that companies like Amazon have introduced and how brick-and-mortar retailers are adapting.' He said traditional retailers face the challenges of how to utilize inventory and workers in the most efficient way and are increasingly relying on technology to solve this dilemma. 'Having a set of algorithms or science that optimize the outcome is a huge priority for retailers and that's what we see them try to do to compete with a company like Amazon,' he added. TheStreet's Scott Gamm reports from Wall Street.
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