Myer, Australia’s largest department store chain, has embarked on a digital transformation to deliver more compelling products to customers. By embracing Oracle Retail, Myer transformed its end-to-end merchandise systems, inventory processes, and planning capabilities, resulting in reduced stock and improved sales, margin, and markdown reduction.
Today, Myer is better able to deliver the right inventory to delight customers across its properties. Oracle provides retailers with a complete, open, and integrated platform for best-of-breed business applications, cloud services, and hardware that are engineered to work together, the company said in a press release.Myer, Australia's largest department store chain, has embarked on a digital transformation to deliver more compelling products to customers. By embracing Oracle Retail, Myer transformed its end-to-end merchandise systems, inventory processes, and planning capabilities, resulting in reduced stock and improved sales, margin, and markdown reduction.#
The project was a business-led initiative supported by IT. The team established clear goals and expectations to achieve immediate business benefits and support long-term growth objectives. Myer built a solid foundation with Oracle Retail Merchandise Financial Planning and Oracle Retail Size Profile Optimisation with support from Tata Consulting Services (TCS), a platinum and cloud elite level member of Oracle PartnerNetwork (OPN).
Phase one of the implementations delivered immediate results with a stock reduction in time for holiday planning. In phase two, a cross-functional solution development team adopted an agile implementation methodology. The team worked in three weeks sprints to deliver regular solution functionality for seasonal strategies, item planning, clustering, option planning, and assortment planning from Oracle retail planning and optimisation. This approach allowed Myer to enjoy accelerated benefits and the project paid for itself.
“I am optimistic about the ability of our Oracle merchandise planning tools to improve the efficiency of our buying teams and to deliver a more profitable, more localised product range for our customers,” Allan Winstanley, chief merchandise officer of Myer said.
“The project was delivered across various teams, including merchandise, IT, TCS, where we transitioned from waterfall to an agile project delivery approach, which ensured the success of the project,” Troy Smith, chief information officer said Myer.
“We always encourage our customers to embrace these attributes and focus on operational excellence. By establishing a strong foundation, Myer can pivot to the customer and localise the assortment based on store demographics, climate, and other store attributes,” Mike Webster, senior vice president and general manager, Oracle Retail said.
Fibre2Fashion News Desk (GK)
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