Supply chain management solutions: OracleWorld's final day features good news for retailers
Patrick Burnson -- Executive Editor -- Logistics Management, 10/14/2009
SA FRANCISCO--Shippers were told by Oracle Retail developers that a new version of its software will help them with their inventory investments.
Speaking to reporters at today’s final meeting of Oracle’s annual “OpenWorld,” the company said the time for retailers to concentrate on wringing out increased value from their businesses.
“For far too long, retailers in segments like grocery and hardlines have carried out inventory planning processes reactively, often relying on outdated information,” said Duncan Angove, senior vice president and general manager, Oracle Retail. “The Oracle Retail integrated inventory planning suite includes applications that have proven effective in many of the world’s most complex supply chains, and when combined, can can deliver measurable value to retailers by helping them tie together planning and execution.”
Oracle Retail’s integrated inventory planning solution offering combines and advances its existing Oracle Retail Replenishment Optimization , Oracle Retail Demand Forecasting and Oracle Retail Advanced Inventory Planning applications in order to help retailers better predict customer demand, balance service levels with inventory investment, and continuously synchronize and align supply with demand, to generate real cash flow benefits by offering their customers the right product, in the right amount, and at the right time.
According to spokesmen, the Oracle Retail integrated inventory planning suite offers retailers a solution from strategic planning to tactical execution, and features robust simulation and optimization capability to help them align inventory investment with financial and merchandising strategy.
“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,” said Brian Kilcourse, managing partner at Retail Systems Research.
New and enhanced capabilities include “on the fly” service level and inventory parameter setting optimization based on business objectives such as sales, margin, or volume that drive a time-phased, constraint-based replenishment plan.
Finally, shippers were told that to help support the linkage between localized assortments and inventory execution, they can leverage new item importance capabilities to drive inventory execution to more optimally align with their assortment strategy.
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