#1 Retail Software Company Delivers New Solution to Help Global Retailers
Enhance Operational Excellence and Collaborate More Effectively with
Suppliers
NEW YORK, Jan. 14 /PRNewswire-FirstCall/ -- NRF 97th ANNUAL CONVENTION
& EXPO -- Oracle (Nasdaq: ORCL) today announced the availability of
Oracle(R) Product Information Management for Retail, an innovative master
data management application that allows global retailers to create a
single, enterprise view of all product information to help unlock value
from within the business. Oracle Product Information Management for Retail
helps retailers improve operational efficiencies, accelerate the
speed-to-market of new product introductions and service offerings across
different channels, improve customer intimacy and automate collaboration
with trading partners.
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As the industry continues to experience a dramatic transformation and
the channels of retailing expand, retailers are being forced to devote
significant time and resources to addressing data quality issues. These
efforts are cutting into their profits and negatively impacting the bottom
line as a result of factors such as wasted labor and lost productivity.
Making matters worse, ignoring the data quality problem is not an option as
it can lead directly to missed sales, lost market share and customer
dissatisfaction when products are unavailable or slow to reach the shelf.
"Many retailers are missing the point on Product Information Management
and as a result are not properly preparing themselves for the future," said
Andrew White, Research Vice President, Gartner. "To be successful with
business-led and technology-enabled initiatives such as customer
centricity, business intelligence, multi-channel integration and SOA,
retailers must establish a solid information infrastructure. With PIM,
retailers can build a foundational part of that information infrastructure
that will outlast and support any number of business applications and
business process changes from today to the future. Retail CIOs should
evaluate PIM sooner rather than later as a means to future-proof their
needs for a single view of product from consumer to supplier."
Oracle Product Information Management for Retail integrates,
standardizes and synchronizes fragmented product data from multiple systems
into a single, central data repository. As a result, the solution is able
to deliver a trusted source of product information. This is especially
useful for retailers with multiple item masters, multiple sales channels or
those who require data synchronization with suppliers. Retail mandates
around the use of Global Data Synchronization Network (GDSN) standards have
proven to be catalysts for many retail product information initiatives. Key
features of Oracle Product Information Management for Retail include:
-- New Product Induction and Product Synchronization: enables retailers
to synchronize product information with information from their
suppliers to help reduce errors and improve overall data quality
-- Automated Syndication through GDSN: out-of-the-box certified solution
for GDSN and 1Sync data pool
-- Collaborative Processes: allows the extended retail enterprise and
third parties to be involved in the product setup process
-- Flexible Attributes and Content Management: helps retailers maintain
all of the various attributes that products have across different
channels within a single system
-- Flexible Configuration: allows the user experience to be tailored to
user roles and provides for a streamlined, secure process
-- Unstructured Data Management: maintains information from various
formats in the same repository and automates integration of data and
services between internal applications to help ensure data integrity
-- Broad Data Quality Tools: maintains a clean, accurate single source of
the truth
-- Open-standards based integration architecture: distributes accurate
information to the extended enterprise
"Oracle Product Information Management for Retail builds on Oracle's
commitment to provide global retailers with innovative solutions that
address their most critical business imperatives and deliver measurable
value," said Hardeep Gulati, Vice President PLM and PIM Product Strategy,
Oracle. "We see a significant opportunity to help retailers and their
suppliers become more profitable and deliver increased shareholder value
from leveraging a single source of accurate product information."
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.
Trademarks
Oracle is a registered trademark of Oracle Corporation and/or its
affiliates. Other names may be trademarks of their respective owners.
SOURCE Oracle
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CONTACT:
Kevin Ruane, +1-650-506-6610,
kevin.ruane@oracle.com, or Jessica Moore, +1-650-506-8741,
jessica.moore@oracle.com, both of Oracle
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