Russian fashion retailer O’stin has partnered with global software major Oracle to deploy three retail management solutions across its 700 stores in the country.
The three solutions, including Oracle Retail Demand Forecasting, Oracle Retail Planning and Optimization, and Veltio APX Supply Chain Planning, which aim to create a product replenishment programme, to predict and meets customer demand.
Oracle’s partner Veltio assisted the retailer in the implementation process of the three retail solutions.
The retailer’s merchants are managing a 90,000 line product matrix personally, and its management is calculating stock levels for each SKU manually at every store.
To address its current scalability problem, the retailer has deployed the three solutions in its stores.
Oracle retail vice-president Chris James said: “Disparate silos of customer information, store and product performance prevent retailers from having accurate inventory forecasts.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“Without this holistic perspective brands risk significantly decreased margins by having to continually discount inventory to make room for new seasonal merchandise.”
Oracle Retail Demand Forecasting solution assists retailers in centralising demand forecasts for their omnichannel business accurately and efficiently, including planning, optimisation, operations, vendor collaboration, marketing and insights.
The Planning and Optimisation suite allows retailers to integrate performance, market, and vendor data sources, and utilise retail science to drive intelligent and localised assortments.
Leveraging the Veltio APX Supply Chain Planning solution, retailers can allocate stock to stores using simple or complex packs, optimise ROIs, calculate order quantities, and create purchase orders at multiple tiers of the supply chain.
O’stin assortment and planning director Grechin Sergey said: “By tuning the high-level replenishment parameters, we optimised inventory to hold the right amount of safety stock to meet consumer expectations and manage the end of season inventory.
“In 18 months, we have rolled out the solution to all stores in Russia, Belorussia and Kazakhstan with Veltio.”