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.
- 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.
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.
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