Oracle announced that Italian hypermarket chain Bennet has deployed Oracle Retail Planning and Optimization solutions to increase business efficiency.
Bennet operates 63 hypermarkets throughout northern Italy. Bennet focuses on price, service, and selection.
“Our legacy system simply didn’t provide the ability to adapt our prices in real-time and we decided to replace our legacy technology with a proven, industry-leading platform,” said Alessandro Volpato, chief information officer (CIO) of Bennet.
Bennet leverages Oracle Retail Regular Price Optimization, which offers a centralized view of inventory, to maximize assortments to anticipate and meet customer needs.
Bennet tried to improve the speed and the accuracy of the process to better serve its customers since its legacy system was time consuming.
The Italian hypermarket chain has significantly cut the time it takes to adapt its prices following the implementation of Oracle Retail Merchandising Planning & Optimization. Bennet is now empowered to make real-time pricing decisions.
The retail chain is extending the use of the Oracle platform with the optimization algorithms support. Using the Oracle platform, Bennet can manage pricing data without coding, and change pricing thresholds and rules without ever needing to involve the development team.
Bennet can now predict the impact of pricing to both individual items and to categories of products, enabling it to balance and execute price effectiveness against competitors.
“Today, it’s never been easier to check and compare prices between different retailers, so it’s vital that they can adapt the price of items to react to their competitors, or to other factors,” said Ray Carlin, senior vice president and general manager, Oracle Retail.
The next phase of the implementation sees Bennet incorporating more sophisticated KPI within its operations and corporate strategy to simplify and drive the pricing decisions.