The stock of Oracle Corporation (NYSE:ORCL) closed at $50.90 gaining 0.43% in yesterday’s trading session. In a bid to boost its efficiencies, the Italian hypermarket chain Bennet has deployed Oracle Retail Planning and Optimization solutions. That is according to a statement made by Oracle today.
Bennet takes immense pride in the fact that it has about 63 operational hypermarkets throughout northern Italy. It majorly focuses on selection, service and price. Bennet understands the logic behind staying competitive and that is why it has always adapted the price of its goods in such a way that they react to market changes including market trends, seasonality and competitor pricing. Its legacy systems has been seen by top experts as rather time consuming and Bennet remains committed to improving speed as well as the accuracy of the process to help better serve its wide range of customers.
The Chief Information Officer for Bennet, Alessandro Volpato, disclosed that they were committed to offering their customers the very best in terms of quality and value. The company’s legacy system was rather disappointing. That was especially when it came to providing the ability to adapt the prices in real-time and that was why they chose to replace their legacy technology with proven, industry-leading platform.
Back in 2015, Bennet got in touch with Oracle and it sought help to transform its ability to improve its competitiveness and manage pricing while at the same time balancing profitability. The Italian hypermarket chain has significantly cut down on the time it took to adapt prices after the implementation of Oracle Retail Merchandising Planning & Optimization. The transformation has moved from days to hours. Bennet will from today henceforth be able to empower make much better real-time pricing decisions.
Chief Information Officer for Bennet, Alessandro Volpato, opined, “Bennet has seen instant return on investment, as this activity can be completed in a few hours, and because the process of data entry is automated, it eliminates the possibility of errors associated with manual entry.”
The Senior Vice President and General Manager for Oracle Retail said that customer loyalty was all about making customers believe that they are getting real value for money.