We are extremely proud of what our customers can achieve and the impact on business efficiency and transparency with the supply chain management solutions within our latest Oracle Retail Release 16. In particular, Oracle Retail Demand Forecasting, Demand Forecasting Cloud, Replenishment Optimization, and Advanced Inventory Planning offer significant gains in accuracy and efficiency of inventory management and an improved user experience.
There are critical performance improvements in Oracle Retail Release 16 that impact nearly every aspect of retail supply chain operations.
Running a customer-first retail operation is not a new concept but in the past 10 years we’ve all seen a tidal shift in what that means. Not long ago the ability of a retailer to ship product from one location to another was less urgent, and systems were not specifically engineered to accommodate it. Today, the first priority is to save the sale. Retailers need the ability to source inventory from anywhere in the enterprise, whether warehouses or stores to mitigate the risk of a customer going elsewhere when their desired product is not available when and where they want it. This saves the sale, but it also involves additional cost, so the question for the retailer becomes, how do I put that product closer to the consumer so as to minimize that cost?
Another aspect of today’s business landscape is the growing need to increase the efficiency of professional retail staff. As the development team was working on Release 16, making user’s more efficient was top of mind. By removing the need to search for work, compressing processes, building persona-oriented user interfaces, and taking an exception-based approach we have delivered a solution that empowers staff throughout the supply chain to access needed information faster, make informed decisions and take action in the fewest steps possible. Here’s two quick examples of the tangible value of modern retailing:
The pace of change for retail is significant and the expectation is that the velocity will continue to increase. Keeping up is no longer good enough – retailers need to get ahead. Retailers will need to upgrade their capabilities more often than in the past to keep up with customer expectations and consumer technology (mobile, IoT, VR). Our cloud solutions give retailers the ability to seamlessly take upgrades increasing their agility and making ongoing innovation economically manageable. Here’s three quick examples of how Release 16 takes cost out of the business and drives profit margins:
This month 200+ retail executives from around the world will convene at Oracle Industry Connect in Orlando, FL. If you're not already registered there is still time to take advantage of this annual event and connect with supply chain peers, Oracle executives and solution experts. The agenda is designed and delivered largely by our customers including notable brands: Argos, Best Buy and Gander Mountain who will sharing winning strategies for executing an omnichannel supply chain strategy. Learn more about the retail program at #OracleIC17.