4R Systems Discusses, why profitability in the retail industry will rely more on analytics than on the ability to predict the next fashion craze...Business Editors WAYNE, Pa.--(BUSINESS WIRE)--March 25, 2002 4R Systems (...maybe your next hire should be from MIT MIT - Massachusetts Institute of Technology , not FIT) As the pressure to improve margins intensifies, the retail industry is coming to grips with the critical need to find technology-based solutions that can help them get the right products to the right stores at the right time and offered at the right price. Introducing science to the art of retailing will help retailers and manufacturers of apparel, footwear Footwear consists of garments worn on the feet. It is worn for a variety of reasons, including protection against the environment, hygiene and adornment. Usually, socks and other hosiery are worn between the feet and the footwear, except for sandals and flip flops (thongs). , books, CDs, consumer electronics and other `short lifecycle' products once and for all ensure that store supply is in sync with consumer demand, say experts at 4R Systems, a leading provider of analytical software Analytical software is software that is designed specifically for and development of a particular environment or object. to the retail industry. 4R co-founders Marshall Fisher and Ananth Raman, senior professors at Wharton and Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. , respectively, and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jeff Singer can discuss:
- Why `friends-and-family' discounts and other sales tactics
won't save retailers from an industry shakeout unless they
get to the source of their problems - and how IT technology
is coming to the rescue.
- Why forecast errors, which cost merchants billions of dollars
every year, remain high for the industry - and how companies
like 4R are overcoming the challenge of implementing
high-tech solutions in the low-tech environment of retail.
- How technology and analytics are helping retailers convert
the vast amount of consumer spending data they collect every
day into meaningful information that helps them make the
right inventory decisions - and how `right-brained' retail
executives are adapting to the brave new world of rocket
science retailing.
About 4R Systems 4R Systems Inc. is a leading provider of analytical software that allows retailers and manufacturers to increase the profitability of short lifecycle products by accurately matching supply with demand. The 4R Supply Planner(TM) product includes the following components: Merchandise Test, Read/React, Replenishment replenishment the addition of an appropriate quantity of properly prepared solution containing the correct concentration of chemicals to the developer solutions used in radiography. and End of Life. Together, they leverage point-of-sales (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) data and turn it into critical decision-making information for forecasting and supply planning. The company was founded by supply chain experts Marshall Fisher of Wharton Business School and Ananth Raman of Harvard Business School, whose groundbreaking research on product lifecycles Product lifecycle or product life cycle is the course of a product's sales and profits over time. The five stages of each product lifecycle are product development, introduction, growth, maturity and decline. at over 30 world-class retailers pioneered the retail analytics sector. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion