Australian department store Myer is embarking on a digital transformation with the goal of delivering more compelling products to customers. Myer offers a wide range of cosmetics, clothing, footwear, toys and homeware in its 61 stores.
The retailer has deployed Oracle Retail Merchandise Financial Planning and Oracle Retail Size Profile Optimization solutions that are designed to enhance its merchandise systems, inventory processes and planning capabilities. Key benefits include improved sales, margins and markdown reductions.
The implementation’s initial phase helped Myer reduce stock levels in time for holiday planning. Phase two consisted of the team working in three-week intervals to deliver solution functionality for improving seasonal strategies, item planning, clustering, option planning and assortment planning.
“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 localized product range for our customers,” said Allan Winstanley, Chief Merchandise Officer of Myer in a statement.