Oracle announces retail cloud success
Mon 26 Mar 2018
Oracle Retail has announced the successful implementation of their cloud services across six new global brands, including Gap, Inc., Moleskine, and Samsonite Europe.
Oracle Retail is a cloud-based service for retailers that uses data-driven applications for merchandising, omnichannel marketing, supply chain management, planning and forecasting, and inventory management. Oracle provides software solutions as well as point-of-sale hardware to help retailers navigate a complex and increasingly competitive environment.
This announcement of the six new brands that have adopted Oracle Retail cloud solutions brings the company’s retail cloud solutions total to over 30 in the past 18 months. Oracle Retail cloud promises accuracy in price, promotion and demand views for retailers across diverse brands, locations, and channels.
Jeff Warren, vice president of solutions and strategy for Oracle Retail said that cloud-based retail solutions can provide companies with a competitive advantage. “With cloud infrastructure,” he said, “brands can dedicate resources to act on insights instead of maintaining legacy systems. Retailers that innovate will continue to widen the gap between their peers with lower operating costs, improved customer experience and maximized margins.”
A competitive advantage is extremely important in the retail industry, currently in its third year of a commonly described ‘retail apocalypse’. A move by consumers to ecommerce and online shopping, combined with highly-publicized bankruptcy filings and closures of once-iconic brands has created instability in retail markets.
Cloud-based solutions, with their promise of streamlining, efficiency, and data analytics that can be used for forecasting and to improve customer service, are very attractive to forward-thinking retail brands.
For example, Gap, Inc, is launching Oracle Retail Merchandising Foundation and Insights, Retail Integration, and Retail Inventory Management for its high-end boutique brand Intermix.
Paul Chapman, CIO of Gap, Inc. noted that the rollout of cloud solutions for Intermix is the first stage of a larger cloud adoption across all Gap brands.
“This investment marks the first step on a journey to adopting cloud technology across our global operations. We chose Oracle Retail Cloud Services to synchronize our global initiatives and deliver state of the art functionality to Intermix,” he said.