NEW YORK, Jan. 16, 2018 /PRNewswire/ -- NATIONAL
RETAIL FEDERATION ANNUAL CONFERENCE -- Today, Oracle announced
that River Island deployed Oracle
Retail Merchandise Financial Planning to support their Omnichannel
growth and digital transformation. River
Island operates a global portfolio of over 320 stores across
the UK and Ireland and
internationally throughout Asia,
the Middle East and Europe. With a global footprint and multiple
web, franchise and wholesale operations River Island required new tools to make more
accurate and impactful inventory decisions for continued
growth.
River Island had the vision and
courage to become an Omnichannel retailer before it was vogue.
River Island operates an
award-winning online fashion retail site, employs one of the
biggest in-house design teams on the British high street and
maintains a deep commitment to nurturing new talent which have
enabled the brand to become one of the most successful fashion
retailers in the UK. As River Island
experienced continued growth in the UK and internationally they
understood the value and necessity of a single view of order and
inventory to scale their business.
"We knew that Omnichannel was the future and had to make a
strategic move. We partnered with Oracle to get there. A single
view of inventory is the key to fulfilling demand and operating
more effectively," said Doug
Gardner, Chief Information Officer, River Island. "Through this transformation, we
needed to change the way our business worked. People had to come
together and properly go through the design of the
implementation."
As an early adopter of Omnichannel planning, River Island partnered very closely with the
Oracle Retail Consulting team to align towards business objectives
correctly. Together, River Island
established more-consistent and accurate planning processes to
better understand how merchandise was performing across
channels.
"Sometimes you have to have the courage to level set in the
middle of an implementation. You want to get it right because you
need a foundation to operate with going forward," said Gardner. "By
implementing Oracle Retail Merchandise Financial Planning
correctly, we are now about to evaluate profitability, reduce
markdowns and follow a single version of the truth for the whole
business."
"In our 2017 global consumer research 'Retail in 4 Dimensions,'
we found that 43% of consumers are now shopping both online and
in-store every week. The multichannel shopper spent nearly twice as
much as a single channel shopper this fall. River Island took notice of these trends early
and shifted their strategies to be more nimble and agile in the
face of shifting consumer demands," said Ray Carlin, Senior Vice President and General
Manager, Oracle Retail. "Retail has advanced at an unprecedented
pace with an evolution of strictly brick and mortar retail to a
complex Omnichannel world where purchasing online and collecting
orders how, where and when one wants has become the standard."
Oracle Retail at NRF 2018
Oracle Retail will be showcasing the full suite of Oracle Retail
solutions and cloud services at the National Retail Federation Big
Show Jan. 14-16, 2018, in
New York City at the Jacob K.
Javitz Convention Center. Oracle Retail will be located at booth
#3521. For more information check out: www.oracle.com/retail
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 offers complete SaaS application suites for
ERP, HCM and CX, plus best-in-class database Platform as a Service
(PaaS) and Infrastructure as a Service (IaaS) from data centers
throughout the Americas, Europe
and Asia. For more information
about Oracle (NYSE:ORCL), please visit us
at www.oracle.com.
Trademarks
Oracle and Java are registered trademarks of Oracle and/or its
affiliates. Other names may be trademarks of their respective
owners.
View original content with
multimedia:http://www.prnewswire.com/news-releases/river-island-creates-single-view-of-inventory-with-oracle-retail-planning-300582820.html
SOURCE Oracle