Myer is implementing technological changes to bolster further growth in a new partnership with Oracle. The implementation aims to transform its digital presence.
The partnership allows Myer to ‘transform’ its end-to-end merchandise systems, inventory processes, and planning capabilities, resulting in reduced stock and improved sales, margin, and markdown reduction.
“I am optimistic about the ability of our Oracle Merchandise Planning tools to improve the efficiency of our buying teams and to deliver a more profitable, more localised product range for our customers,” explained Allan Winstanley, CMO at Myer.
The implementation process offers clear goals that are expected to ‘achieve immediate business benefits and support long-term growth objectives’. The platform was built with Oracle Merchandise Financial Planning and Oracle Retail Size Profile Optimisation, along with support from Tata Consulting Services.
“The project was delivered across various teams, including Merchandise, IT and Tata Consulting Services (TCS), where we transitioned from waterfall to an agile project delivery approach, which ensured the success of the project,” explained Troy Smith, the CIO of Myer.
Phase one included the implementation of stock reduction and delivered ‘immediate results’. The second phase included a ‘cross-functional solution development team’ who adopted an agile implementation methodology. The project spanned across three weeks.
“Automate and simplify. We always encourage our customers to embrace these attributes and focus on operational excellence,” said Mike Webster, Senior VP and GM, Oracle Retail. “By establishing a strong foundation, Myer can pivot to the customer and localize the assortment based on store demographics, climate, and other store attributes.”
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