REDWOOD SHORES, Calif., April 23,
2018 /PRNewswire/ -- Today, Oracle announced that
O'STIN has deployed Oracle Retail Demand Forecasting, Oracle Retail
Planning & Optimization and Veltio APX Supply Chain Planning to
create a product replenishment program that proactively anticipates
customer demand. With the Oracle Retail and Veltio integration
O'STIN sought to improve the effectiveness of inventory fulfillment
across 700 stores throughout Russia to better meet customer demand while
protecting profitability. Veltio, an Oracle Partner Network
Platinum Partner, drove the implementation resulting in a more
accurate planning process that can anticipate consumer demand.
"Disparate silos of customer information, store and product
performance prevent retailers from having accurate inventory
forecasts," said Chris James, Vice
President, Oracle Retail. "Without this holistic perspective brands
risk significant decreased margins by having to continually
discount inventory to make room for new seasonal merchandise."
Prior to the upgrade, O'STIN merchants personally managed a
90,000 line product matrix that included the store, style and
color. O'STIN management would manually calculate stock levels for
each SKU at every store for the previous four weeks, magnifying a
scalability problem as the brand operated at the speed of fast
fashion.
"The most effective stock level decisions are based on product
performance and stock position. The combined Oracle Retail Planning
& Optimization complemented by Veltio APX empowers our planning
team to better forecast consumer demand and increase their
productivity through automation and exception-based reporting. Now
we can rely on data science to predict and automate replenishment
based on future sales forecasts," said Prosvirnin Nikolay, Head of
Allocation and Replenishment teams, O'STIN.
"By tuning the high-level replenishment parameters, we optimized
inventory to hold the right amount of safety stock to meet consumer
expectations and manage the end of season inventory," said
Grechin Sergey, Assortment and
Planning Director, O'STIN. "In 18 months, we have rolled out the
solution to all stores in Russia,
Belorussia and Kazakhstan with Veltio."
"With the ability to directly integrate with Oracle solutions
like Oracle Retail Assortment Planning and Oracle Retail Demand
Forecasting in a single deployment, Veltio provides clients like
O'STIN with an easy-to-use tool that offers increased automation to
help predict product lifecycles, size and store split, and initial
allocation quantities to feed the supply chain," said Costas
Malamas, Managing Partner, Veltio.
Implementation Benefits:
- Oracle Retail's Planning and Optimization suite empowers
planning teams to combine disparate data sources, including
performance, market, and vendor, and leverage retail science to
drive intelligent and localized assortments without the increased
overhead of full-time data scientists.
- Oracle Retail Demand Forecasting allows retailers to centralize
demand forecasts for their omnichannel enterprise — from operations
and vendor collaboration to planning and optimization to marketing
and insights — accurately and efficiently.
- Veltio APX Supply Chain Planning is a set of Oracle Retail
Predictive Application Server components developed that provide
advanced allocation, replenishment and execution functionality.
Exclusive to Veltio, this cutting-edge retail science can allocate
stock to stores using simple or complex packs while optimizing ROI.
Veltio APX calculates order quantities at multiple tiers of the
supply chain and can create purchase orders at all tiers to be
executed by downstream systems.
About O'STIN
O'STIN is European fashion apparel brand, offering products for
women, men and kids. O'STIN operates more than 700 stores in
Eastern Europe, Russia and Asia. O'STIN is a vertically integrated
business that controls the whole value chain across product design
production and retail sales. This allows us to assure high product
quality at reasonable prices and to keep a direct communication
with our customers. For more information about O'STIN, please visit
ostin.com.
About Oracle Retail:
Oracle provides retailers with a complete, open, and integrated
suite of best-of-breed business applications, cloud services, and
hardware that are engineered to work together and empower commerce.
Leading fashion, grocery, and specialty retailers use Oracle
solutions to anticipate market changes, simplify operations and
inspire authentic brand interactions. For more information, visit
our website at www.oracle.com/retail.
About Oracle
The Oracle Cloud delivers hundreds of SaaS applications and
enterprise-class PaaS and IaaS services to customers in more than
195 countries and territories while processing 55 billion
transactions a day. For more information about Oracle (NYSE:ORCL),
please visit us at oracle.com.
Trademarks
Oracle and Java are registered trademarks of Oracle and/or its
affiliates. Other names may be trademarks of their respective
owners.
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SOURCE Oracle