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Forever 21 discusses how they are using Oracle Retail Merchandise Planning and Optimization solutions to predict demand and align assortments to meet customer expectations

Forever 21 ensures buyers make the correct purchasing decisions with Oracle Retail

nrf nrf15 Forever 21 ensures buyers make the correct purchasing decisions with Oracle Retail

The great and the good have gathered for the National Retail Federation's (NRF) Big Show in New York, which has kicked off with an air of caution.

Oracle Retail 14.1, which the company showed off at the National Retail Federation conference, allows omnichannel commerce, by which retailers offer a seamless shopping experience across mobile devices, online, and stores.

Creating curated, consumer-focused product assortments means taking a more scientific approach to decision-making around planning and merchandising. The rewards will be seen not only in higher sales, turns and margins, but in customers' satisfaction at more easily finding the items they both need and want.

Mike Hazel, chief information officer, Academy Sports + Outdoors: "Oracle Retail provides us with a foundation for growth and an integration strategy."

George Franzino, consultant and program manager for ALEX AND ANI's "Project Prophet" software implementation: "This is the execution layer of delivering on that brand promise to our customers. This will greatly enhance that customer experience."

On the heels of the acquisition of MICROS in September 2014, Oracle has announced an update to its solution portfolio. Oracle Retail 14.1 is designed to help retailers support interactions and transactions across channels and devices.

Only when executives, decision-makers, managers, and front-line associates have ready access to the information they need will retailers begin to catch up to their customers.

Today, the CIO fulfills a more strategic role, one that impacts the organization's ability to adapt to changing consumer preferences, preserve margins and serve customers.

"Transformation is critical to compete in an omnichannel market," said Mike Hazel, CIO at Academy Sports + Outdoors. "Academy Sports + Outdoors is expanding rapidly, and with that growth comes the need for a system that is scalable and can grow with us. Oracle Retail provides us with a foundation for growth and an integration strategy."

"Transformation is critical to compete in an omnichannel market," said Mike Hazel, CIO at Academy Sports + Outdoors. "Academy Sports + Outdoors is expanding rapidly, and with that growth comes the need for a system that is scalable and can grow with us. Oracle Retail provides us with a foundation for growth and an integration strategy."

Welch pointed out the importance of retail commerce to the US economy, referring to it as "a big common interest." It's also a labor-intensive one. "I'm amazed at how hard retail is," he said. Therefore, the federal government should do all it can to protect privacy and online data while still "serving entrepreneurs," he asserted.

"According to the study, 46% of retail organizations have intelligent targeting capabilities that provide real-time feedback and advanced insights to enhance customer engagements and increase marketing effectiveness. In contrast, only 31% of total respondents from other industries cited the same level of targeting ability."

"With the help of Oracle's support and experience, we have been able to launch an e-Commerce solution that aligns directly with our brand values," said Andrew Vidler, General Manager of Retail at Chemmart Pharmacy. "From a customer perspective, this local approach has the benefit of continuity of care and the convenience of choosing between home delivery or collecting the order at their local pharmacy." 

"The National Retail Federation (NRF) is launching United for Patent Reform, a new coalition co-chaired by NRF and Oracle and comprised of grocery, hotel, retail, restaurant and technology associations and companies. The coalition will pursue patent reform legislation aimed at curbing abuse of the patent system by "patent trolls.""

"To increase its omnichannel capabilities even further, John Lewis will also invest in a new merchandise management system from Oracle by 2017. This will replace its legacy solution and work across all of the retailer's stores and facilities."

Retailers are also benefiting from more pervasive access to real-time information. Data stored in superfast in-memory computer systems allows store managers to generate reports in real time instead of at the end of a day or week, and new data visualization technologies make that data more comprehensible and actionable. "Now this is on everyone's iPhone or iPad in real time," says Dorf. "The speed at which technology allows us to get access to information is changing things dramatically."