Stein Mart, a national specialty off-price department store, is planning to gain a more comprehensive look at its inventory using Oracle Cloud. In adopting the Oracle Merchandise Financial Planning solution, Stein Mart seeks to better manage its inventory and consolidate the planning process for its 280+ physical stores, online store and warehouses into one solution.
During a session at Oracle’s Cross Talk event earlier this month, the retailer said it needed to improve business process management as it expanded e-Commerce capabilities and added a new children’s department.
“We have been focused on simplifying our merchandising processes while expanding our omnichannel capabilities and business initiatives,” said Nick Swetonic, Stein Mart’s SVP of Planning and Allocation, in a statement. “The enhanced functionality of Oracle’s Merchandise Financial Planning solution will help us analyze data faster to create better plans up front so we can buy smarter and manage inventory more effectively.”
Stein Mart has partnered with Cognira, an AI-based forecasting and assortment platform, and The Parker Avery Group, a boutique strategy and management consulting firm, to redesign its business processes and apply the Oracle Retail Merchandise Financial Planning Cloud Service. Both firms are members of the Oracle PartnerNetwork (OPN).