US based fast fashion apparel retailer, Forever 21, has implemented Oracle Retail Assortment Planning and Size Profile Optimization to help ensure that the apparel and accessories it places in stores each week are those that customers are looking for, and that will help to fuel ongoing growth.
Forever 21 expects to open 600 new stores in the next three years, and the Oracle system will help its merchandising team support the growth with more streamlined and effective processes, using the system to predict when individual items will be in demand and in what colours, styles, and quantities at each of its six websites and corporate, franchise, and joint-venture owned brick-and-mortar locations in 43 countries, according to a press release.
With the help of Oracle Retail Assortment Planning and Size Profile Optimization, Forever 21 can make data-driven decisions to create optimal assortments based on determining factors such as neckline, price point, fabric and other variables influencing sales. The Oracle Retail solution enables Forever 21 to improve planning decisions based on bottom-up data from its business units, taking into account the fast pace of style changes, seasonality, and sizing demands, as well as product fabrication requirements, and average unit retail costs.
Robert Kim, vice president, planning, and allocation, Forever 21 said, “The Oracle Retail solution gives us a blueprint of where the assortment is going to lead us. Oracle took a very complicated model and made it user-friendly. We expect to gain more insight and deliver an even better product assortment for our customers as we expand our use of the Oracle Retail solution.”
