Oracle Retail has released an integrated inventory planning suite, in a move the company says aims to help retailers maximise their inventory investments.
The announcement was made at Oracle OpenWorld, in San Francisco, this week.
“For far too long, retailers in segments like grocery and hardlines have carried out inventory planning processes reactively, often relying on outdated information,” says Duncan Angove, senior VP and GM, Oracle Retail.
“The Oracle Retail integrated inventory planning suite includes best-in-class applications that have proven effective in many of the world's most complex supply chains and, when combined, can deliver measurable value to retailers by helping them tie together planning and execution.”
According to Angove, Oracle Retail's integrated inventory planning solution offering combines and advances its Retail Replenishment Optimisation, Retail Demand Forecasting and Retail Advanced Inventory Planning applications.
“The solution helps retailers to more accurately forecast customer demand, balance service levels with inventory investment, and align supply with demand. This enables them to offer their customers the right product, in the right amount at the right time, translating into real cash flow benefits.”
“Retail winners know that visibility into inventory and demand creates the opportunity to accurately forecast and deliver the right products in the right amounts, when and where the consumer needs them,” adds Brian Kilcourse, managing partner at Retail Systems Research.
Angove says the suite is a comprehensive solution, from strategic planning to tactical execution, and features simulation and optimisation capability to help users align inventory investment with financial and merchandising strategy.
New to the suite, is "on the fly" service level and inventory parameter setting optimisation, which he says is based on business objectives such as sales, margin, or volume that drive a time-phased, constraint-based replenishment plan.
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