NRF 96th ANNUAL CONVENTION & EXPO, NEW YORK, Jan. 15 /PRNewswire-FirstCall/ -- The Navy Exchange Service Command (NEXCOM), which offers numerous consumer products and services in various store formats at Naval installations around the world, has implemented Oracle(R) Retail Store Inventory Management at its more than 450 locations, Oracle announced today. The Oracle Retail application helps NEXCOM increase sales by providing efficiency around price change management, improving localized assortments and simplifying seasonal transitions.
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NEXCOM's Oracle Retail Store Inventory Management implementation is part of a more than $75 million project to vastly upgrade the retailer's supply chain operation. The project centers on the rollout of Oracle Retail applications for which NEXCOM anticipates full payback in fiscal year 2009. NEXCOM already attributes a 5.2 percent improvement in retail sales last fiscal year to better product availability from its Oracle Retail system. The $2.3 billion global retailer has also achieved increased in-stock positions while reducing overall inventory by upwards of 5.5 percent.
"Oracle Retail is a key component in making our business customer-centric by providing store personnel with easier access to information that enables them to immediately respond to the needs of our customers," said Richard Garza, CIO for NEXCOM. "We look to Oracle Retail Store Inventory Management to help ensure that the merchandise our customers want is in stock so we can increase customer conversions and boost sales."
NEXCOM is unique in that it offers a wide range of merchandise in the four major quadrants of the retail industry -- discount mass retailer, department store and specialty, focused discounter and convenience stores. As a result, the retailer has a significant challenge in terms of having the right inventory in stock in the right stores. Oracle Retail Store Inventory Management is helping NEXCOM take its management of physical inventory to the next level by allowing larger merchandising selections to be carried in specific locations based on demographics and customer demand.
"Since the deployment of Oracle Retail Store Inventory Management to all worldwide Navy Exchanges, we are seeing improvement in our stock positions," said Richard Dow, NEXCOM's Senior Vice President, Chief Store Operations. "Associates appreciate being provided new, reliable tools to make their jobs easier. These tools provide us accountability and visibility to the transactional item, an improved audit trail and insight to productivity. Customer service is also enhanced given the information we can now provide to our associates on the sales floor, along with the improvement to the overall in stock and inventory management."
"NEXCOM has an extremely complex retail environment and we have partnered closely with them to help ensure that the Oracle Retail applications they use are closely aligned with their goals and support their unique business needs," said Dan Stoks, Senior Vice President Global Sales and Consulting, Oracle Retail. "Our work with NEXCOM is a great example of how a modular suite of applications can deliver significant business value and help transform a leading retail business."
About NEXCOM
NEXCOM is headquarters for the worldwide Navy Exchange System. Its mission is to provide authorized customers quality goods and services at a savings and to support quality of life programs for active duty military, retirees, reservists and their families. NEXCOM and the NES operate primarily with non-appropriated funds (NAF) and by selling goods and services to military patrons and their families, generate revenues that are used to support Morale, Welfare, and Recreation (MWR) programs. NEXCOM is responsible for the oversight of 107 Navy Exchange complexes with 344 stores worldwide, 45 Navy Lodges, ship's stores and the Uniform Program Management Office. These four independently functioning programs of the Navy Exchange System generated $2.3 billion in sales in 2005 and provided $47.5 million to Morale, Welfare and Recreation (MWR) programs. Visit the Navy Exchange website at http://www.navy-nex.com/ .
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 and information technology solutions, Oracle partners with the world's leading retail companies, including 17 of the top 20 retailers worldwide, to transform the economics of their businesses.
About Oracle
Oracle 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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