NEW YORK and MINNEAPOLIS, Jan. 11, 2015 /PRNewswire/ -- NRF Show – Quantum Retail Technology™ Inc., the industry's leading provider of merchandise optimization and inventory solutions has deployed Q Allocation and Replenishment at Famous Footwear, a division of Brown Shoe.
Quantum Retail's Q Allocation and Replenishment was selected to provide an optimal inventory placement solution that works in conjunction with their existing legacy JDA allocation solution. With Q, Famous Footwear has an efficient and cost effective method to improve product service levels throughout each item's respective lifecycle. Optimizing inventory based on store item behavior and merchandise goals and strategies allows retailers to capture otherwise lost sales while reducing markdowns and improving profitability.
"Our selection of Q was based on our desire to drive conversion and turn through improved service levels. We knew the key to doing this was developing a better understanding of demand at the item/size/width level in each of our stores," said Mike Edwards, Vice President Merchandising and Sales Operations for Brown Shoe/Famous Footwear. "With Q, we are able to optimize our inventory by leveraging these insights within our allocation process."
With Q, Famous Footwear has seen an uptick in store service levels and conversion for their full range of inventory. Additionally they have seen improved inventory balancing across their locations along with an improved ability to anticipate and respond to demand at the store level. Overall Famous Footwear is better positioned to serve their customers by getting the correct item/size/width to all their locations and improve profitability through their ability to sell the product in their stores at full price.
"Partnering with Famous Footwear to drive their business has been a win/win for them and for us," said Morgan Day, Vice President of Corporate and Account Strategy. "Q's ability to be deployed within any existing client environment makes it the best choice for retailers with legacy systems that are grappling with the complexities of today's retail environment and who need advanced optimization capabilities within the confines of their existing infrastructure."
About Brown Shoe Company
Brown Shoe Company is a $2.5 billion, global footwear company whose shoes are worn by people of all ages, from all walks of life. Our products are available virtually everywhere — in the more than 1,200 Famous Footwear and Naturalizer retail stores we operate, in hundreds of major department and specialty stores, on 13 distinct ecommerce sites, and on many additional third-party retail websites. Through our broad range of products, we serve three key market segments. Our Family brands — Famous Footwear and Famous.com — are one-stop-shopping destinations for high quality, affordable styles for a family's every occasion. Active people who want comfort, style and performance, can look to our Healthy Living brands — Naturalizer, Dr. Scholl's Shoes, LifeStride and Ryka. Our Contemporary Fashion brands — Sam Edelman, Franco Sarto, Vince, Via Spiga, Fergie Footwear and Carlos Santana— keep fashionistas in step with the latest trends. At Brown Shoe Company, we inspire people to feel good and live better... feet first!
As consumer demand has become less predictable and as retail buying patterns and channels become more complicated many of the world's most successful retailers utilize Quantum's Q solutions. Q helps retailers with both comprehensive and granular predictions of their product demand based on consumer behavior while also providing the ability to act on that intelligence. The Q system continuously learns and dynamically analyzes and then responds to changes in demand for every product and store location to maximize value for retailers of all types. The Q system is adaptable within the retailer's existing environment and works in conjunction with many of today's leading supply chain and merchandising platforms including Oracle, SAP, and JDA.
About Quantum Retail Technology, Inc.
Quantum Retail Technology is the industry's leading innovator of retail focused demand driven merchandising and inventory optimization solutions. Our solutions help retailers realize the highest value from their inventory investment by understanding consumer demand and acting on it to optimally leverage their supply chain. 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.