Oracle releases new retail suite
Oracle Retail version 14 said to be largest-ever release of Oracle retail solutions
Oracle Corp this week introduced Oracle Retail version 14, encompassing new features and functionality across its range of retail business solutions.
"The enhanced suite of solutions enables relevant customer engagements across touch points, targets assortments, drives improved efficiency from inventory and helps reduce total cost of ownership," Oracle claimed.
"Oracle's leading retail science and best practices are now embedded within even more business processes, placing the customer at the centre of the value chain and aligning people, processes and technology to drive profitability."
New operational and planning processes in version 14 allow customers to buy, pick up or return items via any channel. Oracle argues that this will equip retailers to fulfill demand without channel constraints, using built-in functionality that offers "efficiencies and profit gains for retailers".
Assortment planning is enhanced by a range of new data points that work together to influence item and category performance, Oracle said.
"In the global retail industry we have seen a shift of capital from building and refurbishing stores to digital commerce and creating new and differentiated customer interactions," said Mike Webster, senior vice president and general manager, Oracle Retail.
"Retailers are focused on enabling the whole retail enterprise to deliver commerce anywhere."
"Oracle Retail version 14 is our largest release in terms of functionality and manpower invested in development. This release aligns with the industry investments, has a sharp focus on quality and lowers the total cost of ownership for retailers. It further differentiates Oracle when the retailer is choosing a point solution and in situations where the retailer is transforming multiple business operations to enable a more effective customer experience."