If you’re in the retail business, you already know the importance of planning. Without it, too many retailers fail each year because they do not effectively examine results and plan for the future.
“Planning helps an organization chart a course for the achievement of its goals. The process begins with reviewing the current operations of the organization and identifying what needs to be improved operationally in the upcoming year. From there, planning involves envisioning the results the organization wants to achieve, and determining the steps necessary to arrive at the intended destination--success, whether that is measured in financial terms, or goals that include being the highest-rated organization in customer satisfaction.”
Some of the challenges retailers often face include:
As the retail industry becomes more competitive and saturated, companies hoping to stand out should think of stores less as places of commerce and more as places of experiences. From Brennan Wilkie, SVP of customer experience strategy @WeAreInMoment https://t.co/F1GJQdTmt5 pic.twitter.com/IqLTbpm7sp— Total Retail (@MyTotalRetail) March 1, 2019
Global leaders like Lenox, Hamley's, and Gap rely on Oracle Retail applications to run their businesses and are achieving solid results.
One Brazilian shoe company attained 30% reduction in inventory levels leveraging best-practice financial planning processes. Plus, the company was able to improve margins and sell through by 81% in a single year.
They accomplished this by leveraging Oracle Retail solutions for optimization and planning.
Specifically, Oracle Retail solutions give employees a chance to:
When accessing Oracle Retail Learning Subscription: Planning and Optimization training content, your retail planning team can choose from multiple training topics based on the skills they need to learn on that particular day.
Team members can take on demand training that walks them through the pricing analysis process for price optimization, performing “what-if” optimization analysis, managing store clustering, configuring a predictive retail application server solution, and more.
Training is designed for a variety of job roles within the retail industry. Each course within your subscription focuses on a specific topic to empower retail business leaders and employees to grow with today's challenges.
Access easily digestible, on demand tutorials that deepen your understanding of the pricing analysis process for Regular Price Optimization, as well as Assortment Period Maintenance in Assortment Planning Shared Services. Learn how to configure a Retail Predictive Application Server solution, in addition to other granular topics based on your selected area of interest.
Get a FREE preview of the Oracle Retail Learning Subscription: Planning and Optimization now >