Quantum Retail Releases Enhanced Q Merchandise Optimization Solutions Announces new core product platform with solutions for Allocation and Replenishment and Order Planning
NEW YORK and MINNEAPOLIS, Jan. 13, 2014 /PRNewswire/ -- NRF Trade Show booth 3655 -- Quantum Retail Technology™ Inc., the industry's premier innovator of retail-focused merchandise management and inventory optimization software solutions today announced an expanded suite of its acclaimed Q Merchandise Optimization Solutions including enhanced versions of its Allocation and Replenishment Solution as well as announced upcoming updates to its Order Planning solution.
"These updates to the Quantum Retail solution suite represent our latest evolution of the Quantum Retail Merchandise Optimization technology to address rapid changes in the retail vertical," said Steve Buege, CEO of Quantum Retail.
"These enhancements are the result of a collaborative process that has involved looking at the overall market direction, collecting feedback from our clients and prospects, and adding a number of science-based updates to deliver new levels of functionality to the retail marketplace," added Scott Aubitz, CMO and Vice President of Product Strategy for Quantum Retail. "Quantum is focused on driving constant innovation and releasing new capabilities for our retailers who use our solutions to drive millions of decisions every day."
Quantum's core Q Solution updates include a number of new science-based enhancements. These updates are focused on ensuring the highest level of responsiveness in the solution's recommendations to Quantum's customers based on their respective environments.
Q Merchandise Optimization Solutions: The Future of Retail
In addition to the enhancements to the Quantum core platform, a number of new updates were made to the Q for Allocation and Replenishment solution including:
- Initial Allocation Planning: Performs allocations for products with no sales or inventory history.
- Replenishment Distributions: Optimizes store distributions for products with ongoing sales and inventory data.
- Allocation Trigger by Rule: Allows for Configurable allocation triggers; order driven allocations vs. ASN allocations.
- Redesign of Pack Allocation: Evaluates trade-offs between alternative complex packs and singles to arrive at optimal allocation.
- Demand Forecasting: View of time phased demand forecasts to aid understanding of allocation and distributions decisions.
- Forecast Variance Alert: Compares historic forecasts vs. updated forecasts and alerts users when demand exceeds a threshold for a defined period of time.
Q for Order Planning will also be enhanced with an array of features:
- New Item order Planning: The Q Demand Engine calculates order plans for products with no sales or inventory history.
- Time-Phased Inventory Targets: Q offers a view of future inventory target fluctuations based on range, seasonality, life cycle, min/max or constraints.
- Sales Forecasting: Q predicts demand forecasts constrained by inventory into the future.
- Flow and Constraint Modifications: Manage inventory flows through warehouse/vendors with constraints (Open-to-Buy, product, location or vendor).
"Quantum Retail's science has always been unique in its ability to predict buying patterns of consumers to help retailers more efficiently run their stores," said Ziad Nejmeldeen, Quantum Retail's Vice President of Science. "Our latest enhancements extend our science to a broader portion of the merchandise supply network while also addressing changing dynamics within the retail vertical itself."
Updates to Q for Order Planning will be available later in 2014.
The Q software platform is Quantum Retail's answer to today's increasingly complex retail market. As consumer demand becomes less predictable and as buying patterns shift, many of the world's most successful retailers utilize Q to provide answers to their toughest marketplace challenges across their channels. Q combines deep retail and merchandising intelligence with a dynamic technology engine that adapts to a retailer's needs and makes changes based on their requirements and how their customers are behaving. The Q system continuously learns and dynamically analyzes and responds to changes in demand for every product and store location to maximize value for retailers of all types.
About Quantum Retail Technology, Inc.
Quantum Retail Technology is the industry's leading innovator of retail focused supply chain management and inventory optimization solutions designed to increase retailer's profitability in an increasingly dynamic marketplace. Many of the world's top retailers are already Quantum clients. Quantum is privately held and is headquartered in Minneapolis, Minnesota. For more information on Quantum Retail technology, please visit our website at http://www.quantumretail.com
Quantum Retail and Q are registered trademarks of Quantum Retail Technology, Inc. All other trademarks are owned by their respective companies.
SOURCE Quantum Retail Technology, Inc.