Retail businesses generate a lot of data from multiple sources including streaming data such as Click Stream, point-of-sale (POS), syndicated sources such as IRI and Nielsen, Internet of Things (IoT) as well as unstructured sources such as social media networks. Many merchants are not able to harness the full potential of this data to drive new business insights. According to RSR Research’s “Innovation in Retail 2019: Keeping it Real” Benchmark Report, more than 90 percent of survey respondents believe information is a strategic asset and is critical to a retailer’s success.
The latest version of the Logility Digital Platform delivers several enhanced capabilities to accelerate planning from product concept to customer availability. With near real-time access to information, retailers and brand owners have unprecedented visibility across their operations including suppliers, contract manufacturers, partners and retail customers. With Logility, retailers have a single platform that supports global, multi-enterprise collaboration including sourcing, quality and compliance to ensure corporate social responsibility (CSR) mandates are met throughout the network and quality merchandise arrives when, where and how planned.
Historically, retailers have settled for a merchandise plan based heavily on the prior year, known as Last Year. The move towards multi-horizon, multi-season planning requires the ability to harness multiple sources of data and more advanced forecasting methods that leverage artificial intelligence to gain visibility and precision to drive more accurate supply, sourcing and production plans. This allows retailers and brand owners to quickly adjust product assortments based on the stage of a product life cycle, selling season or replenishment period. And, reduces noise across the entire retail planning process to connect the high-level business and merchandising plans to the detailed sourcing, production and allocation plans.
By breaking down information silos, Logility accelerates the flow of information across the business connecting departments and visibility from design inspiration to accurate size and pack plan optimization for faster distribution to stores and other channels. The Logility Digital Platform’s size and pack optimization delivers the ability to allocate based on store need with an accurate combination of pre–pack and bulk stock. Retailers can now automatically ensure each location receives the right merchandise in the right quantity to efficiently satisfy demand.
Merging the art and science of retail planning, Logility’s Inspiration Board combines the designer’s creativity with the constraints and insights of merchandise planning to ensure sourcing and production can meet the specifications outlined. Buyers can quickly develop collections and know if the supply chain will be able to support the plan.
“Retailers and brand owners face rising uncertainty created by unpredictable macro-economic policies, faster product lifecycles, increased frequency of new floor sets and new market threats from areas as diverse as fast fashion and technology giants such as Amazon,” said Allan Dow, president, Logility. “The Logility platform enables retailers to move to a continuous planning process that allows merchants to get closer to the consumer and sense and respond to their changing preferences and accelerate business cycles from product concept to customer availability.”
To learn more about Logility’s solutions for Retail, please visit https://www.logility.com/industries/retail/.
Accelerating digital supply chain and retail planning from product concept to customer availability, Logility helps companies seize new opportunities, sense and respond to changing market dynamics and more profitably manage their complex global businesses. The Logility Digital Platform leverages an innovative blend of artificial intelligence (AI) and advanced analytics to automate planning, accelerate cycle times, increase precision, improve operating performance, break down business silos and deliver greater visibility. This SaaS-based platform transforms sales and operations planning (S&OP) and integrated business planning (IBP) processes; demand, inventory and replenishment planning; global sourcing; quality and compliance management; product life cycle management; supply and inventory optimization; manufacturing planning and scheduling; retail merchandise planning, assortment and allocation. Logility customers include Big Lots, Fender Musical Instruments, Husqvarna Group, Parker Hannifin, Verizon Wireless, and VF Corporation. Logility is a wholly owned subsidiary of American Software, Inc. (NASDAQ: AMSWA). To learn how Logility can help you make smarter decisions faster, visit www.logility.com.
This press release contains forward-looking statements that are subject to substantial risks and uncertainties. There are a number of factors that could cause actual results to differ materially from those anticipated by statements made herein. These factors include, but are not limited to, continuing U.S. and global economic uncertainty, the timing and degree of business recovery, unpredictability and the irregular pattern of future revenues, dependence on particular market segments or customers, competitive pressures, delays, product liability and warranty claims and other risks associated with new product development, undetected software errors, market acceptance of Logility’s products, technological complexity, the challenges and risks associated with integration of acquired product lines, companies and services, as well as a number of other risk factors that could affect the Company’s future performance. For further information about risks the Company and American Software could experience as well as other information, please refer to American Software, Inc.’s current Form 10-K and other reports and documents subsequently filed with the Securities and Exchange Commission. For more information, contact: Vincent C. Klinges, Chief Financial Officer, American Software, Inc., (404) 264-5477 or fax: (404) 237-8868.
Logility® is a registered trademark of Logility, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.