Consumers expect Commerce Anywhere—the ability to complete transactions seamlessly, whether online, on the go, in stores, on the phone, or any combination of these. At the same time, they are increasingly willing to abandon retailers who don’t meet their service expectations. Successful retailers put the consumer at the center of the value chain by aligning people, processes, and technology to improve customer service. Deliver the right product to the right location at the right time to maintain the loyalty of your consumers.
The Financial Impact of Commerce Anywhere
To compete in retail today, companies need to manage the implications of this new complexity. The financial impact of Commerce Anywhere requires a transparent view of inventory status across your operations. Beyond traditional orders, inventory will be reserved for backorders, inbound items, and reservation commitments to fulfill demand.
To reconcile the financials and accountability of this new reality, retailers require a flexible merchandising solution that supports all types of data with built-in best practices that support real-time, cross-channel inventory availability.
A Flexible Implementation Approach
The retail industry is dynamic. With retailers offering new services such as same-day delivery, it is clear that customer expectations will continue to be met. Companies that don’t innovate to meet demand will lose market share.
- How can you compete in this new world?
- Should you add offerings to drive customer engagement?
- What about expanding into emerging markets?
Choose an agile and integrated solution that can scale to your changing business needs. Simplicity may be the answer for today’s operations. TO grow into new markets, you will need to support a more complex set Of daily operations and new units Of measure.
Additionally, retailers can start with the merchandising foundation, locking down item, pricing, and inventory details first and then they can quickly layer in more advanced demand and inventory analytics when they decide to move forward.
Single View of Inventory across All Channels
To serve multiple channels optimally, retailers must begin with a single source of truth — reaching across not just stores but the entire supply chain. Support Commerce Anywhere by unifying product, price, and inventory management, while supporting a single source of transaction information across the business.
Break down the silos of your operations. Improve perpetual inventory, stock levels, and customer order fulfillment with total inventory visibility and operations alignment at every touch point —24/7. Support the customer experience and interactions throughout the entire journey with a single version of the truth. Manage complex product information to support all retail channels with foundation applications built to support day-to-day merchandising activities.
Oracle Retail has delivered measurable business value for the world’s retail retailers across all industry segments in 68 countries use Oracle, including large and midsized companies. 26 Oracle solutions for retail are rated best-in-class by analysts; 20 of the top 20 global retailers run Oracle; 20 of the top 20 global grocers run Oracle and 10 of the top 10 global fashion retailers run Oracle.