By Brid-Aine Conway
Oracle Retail solutions will help Nakheel Retailcorp to better manage inventory levels and improve turnover
Nakheel Retailcorp, the Dubai-based franchisor of fashion, sportswear, food and beverage has selected Oracle Retail merchandising, planning and stores applications to enhance its retail operations and pOracle Retail solution will help Nakheel Retailcorp to better manage inventory and improve turnover erformance.
Nakheel Retailcorp, a subsidiary of the property developer Nakheel, will use Oracle Retail to identify inventory levels and pricing at its stores across the region.
"Oracle Retail will provide Nakheel Retailcorp with the tools to allow its people to efficiently plan, execute and monitor retail operations," said Marvin Shaire, CEO of Nakheel Retailcorp.
"The system is expected to provide the right information at the right time, so stores can be stocked with the right merchandise mix and maintain inventory at optimum levels. Once peak stock levels are achieved, particularly with fast-moving items, we expect to see this reflected in a higher turnover. In addition, we anticipate inventory costs will be reduced through timely identification of old or slow moving items, which can then be discounted to dispose of them quickly," he continued.
Phase one of the project incorporates Oracle Retail Merchandising Operations Management, Merchandise Planning and In-Store Operations and is expected to be completed by mid-2008. The implementation of phases two and three, incorporating additional merchandising, planning and warehouse management solutions, is planned for completion by the end of 2008.