WALTHAM, Mass., Jan. 14, 2013 /PRNewswire/ -- Profitect today announced that Weis Markets (NYSE: WMK) has selected its cloud-based Profit Amplification solution, a pattern-seeking predictive analytics tool, for deployment throughout the chain. Weis Markets will initially deploy the Point of Sale and Inventory modules of the Profitect suite.
Profitect's cloud offering was selected by Weis Markets "to provide a single, integrated solution which could transform our teams and stores processes," said Scott Frost, Senior Vice President, Chief Financial Officer and Treasurer, Weis Markets. "The ability to quickly impact the top and bottom line and make more informed decisions is a critical component of our strategy to exceed the expectations of our customers."
After a detailed evaluation of competing industry solutions, Weis selected Profitect's innovative Profit Amplification modules. "We needed a predictive analytics solution that could identify traditional asset protection challenges, but more importantly, improve the customer experience by reducing out-of-stocks and improving efficiencies in a proactive manner. Thus, reducing the overall cost to our business while increasing profits across the entire enterprise," said Mike Limauro, Vice President of Asset Protection, Weis Markets.
"We're excited that Weis Markets is joining our growing customer base. As a first-class grocery retailer, with heavy emphasis on exceptional shopping experiences for its loyal customers, Weis Markets is committed to providing them with the best and freshest products on the shelf," said Guy Yehiav, CEO, Profitect. "Leveraging our innovative pattern-seeking, cloud-based analytics solution will enable Weis Markets to not only fulfill this commitment to their customers, but quickly increase revenue and margins with minimal IT involvement and easily understand where profit opportunities exist within their stores."
About Weis Markets Celebrating its 100th year, Weis Markets, Inc. (NYSE: WMK), founded in 1912, is a Mid Atlantic food retailer operating 162 stores in Pennsylvania, Maryland, New Jersey, New York and West Virginia. For more information, please visit:WeisMarkets.com or Facebook.com/WeisMarkets.
About Profitect Profitect's Profit Amplification software, a pattern-seeking solution, enables retailers to quickly realize increased revenue and reduced costs across the entire retail supply chain. Profit Amplification pattern-seeking algorithms can "tell a story" by identifying the root cause in anomalies such as inventory distortion, on-shelf availability, shrink/waste/damage, or process compliance – helping retailers minimize the effort necessary to identify controllable factors that the solution translates into action. As a result, retailers can move quickly to prevent profit leakage at all levels of the organization, ultimately improving business processes and the top & bottom line.