Nakheel Retailcorp Selects Oracle® Retail Applications to Enhance Performance and Support Expansion Targets
Dubai-based Retail Franchisor Aims to Optimise Inventory and Pricing with Oracle Retail Merchandising, Planning and Stores Applications
NEW YORK, Jan. 14 - NRF 97th ANNUAL CONVENTION & EXPO - Nakheel Retailcorp, the Dubai-based franchisor of many world-leading brand names in fashion, sportswear, food and beverage including Go Sports, Joebloggs, IC Companys and Peak Performance, has selected Oracle® Retail merchandising, planning and stores applications to enhance retail operations and performance. The Oracle Retail applications will help Nakheel Retailcorp to identify optimal inventory levels and pricing at its stores across the region and provide a retail platform to support corporate expansion plans.
"Oracle Retail will provide Nakheel Retailcorp with the tools to allow its people to efficiently plan, execute and monitor retail operations," said Marvin Shaire, CEO of Nakheel Retailcorp. "The system is expected to provide the right information at the right time, so stores can be stocked with the right merchandise mix and maintain inventory at optimum levels. Once peak stock levels are achieved, particularly with fast-moving items, we expect to see this reflected in a higher turnover. In addition, we anticipate inventory costs will be reduced through timely identification of old or slow moving items, which can then be discounted to dispose of them quickly."
Nakheel Retailcorp was founded in 2004 with the objective to actively represent, promote and foster the development of retail brands in Dubai and throughout the Gulf region, and has an aggressive growth strategy to recruit additional brands. Nakheel Retailcorp wanted a best-of-breed retail solution to support these expansion plans and replace its legacy system, which lacked the scalability to drive these initiatives. Oracle Retail's superior functionality, solid support and ease of integration with existing Oracle systems in Dubai World, Nakheel Retailcorp's parent company, all helped identify Oracle Retail as the best set of solutions.
Nakheel Retailcorp chose a vanilla implementation for its first phase of the project and is developing a standard set of best practices around its operations and processes in order to avoid potential upgrade issues and drive a rapid return on investment. Phase one of the project incorporates Oracle Retail Merchandising Operations Management, Merchandise Planning and In-Store Operations solutions and is expected to complete by mid 2008. The implementation of phases two and three incorporating additional merchandising, planning and warehouse management solutions is anticipated to complete by the end of 2008.
"As the Middle East market becomes more competitive, we are delighted to be supporting Nakheel Retailcorp as it establishes itself as a key retail player," explained Patrick Bohannon, Vice President for EMEA, Oracle Retail. "The Oracle Retail platform provides management with valuable real-time data and analytics into the complete retail process aimed at increasing inventory turnover and profitability."
About Oracle Retail
Oracle is the number one provider of innovative and comprehensive industry software solutions for retailers - enabling organizations to serve their customers better by applying insight into daily business decisions for more profitable results. With software that provides supply chain, operations, merchandising, store systems, optimization as well as enterprise applications and infrastructure software, Oracle partners with the world's leading retail companies, including 20 of the top 20 retailers worldwide, to transform the economics of their businesses.
About Oracle
Oracle (NASDAQ:ORCL) is the world's largest enterprise software company. For more information about Oracle, visit our Web site at http://www.oracle.com/.
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Source: Oracle
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