 |
 |
 |
 |
 |
 |
 |
 |
Press ReleaseHome Entertainment Giants Adopt New Approach to Retail Inventory ManagementLOS ANGELES, July 12, 2006 -- For a number of years, suppliers and retailers have benefited from collaborative partnerships embodied in vendor managed inventory (VMI) and collaborative planning, forecasting and replenishment (CPFR) programs. This has helped them to achieve increased inventory productivity and higher revenue, and to minimize lost sales. Once considered radical innovations, such programs are fast becoming standard operating procedure, a basic requirement for maintaining "high value" status in the retail channel.Sweeping changes like radio frequency identification (RFID) and shelf-level inventory management are posing new challenges for these efforts. "The immense volume of information required for continuous replenishment presents some real problems," says Jay Ennesser, IBM's vice president of Cross-Industry Alliances. "As these programs mature and expand to support more customers, companies are also faced with the challenge of continually innovating and increasing the value they bring to the relationship. They must continually improve their processes and performance, and often that means finding new solutions that can create significant value by optimizing profitability at the shelf." An emerging leader in the effort to help suppliers turn these challenges into competitive advantages is Los Angeles-based WebConcepts. It is quickly becoming a driving force in the industry's transformation of supply-chain management standards. This is due largely to the company founder, an innovative problem-solver bent on providing optimal solutions. "My goal is to enable both suppliers and retailers to make the most of the space they have," says Ray Young, founder of WebConcepts. "Traditionally, people focused on product optimization. In today's world, retailers focus on how much they can make per square-foot. We help them maximize their revenue by focusing on shelf optimization." When a consumer purchases a product, the retailer can immediately track information about the sale, including the location from which it was selected. Pinpointing sales and inventory activity enables suppliers to optimize replenishment and category-management efforts. Utilizing WebConcepts' solutions, companies are finding it easier to manage the increasingly complex task of replenishing multiple retailers and improving inventory performance. Young's eVMI solution allows for expert distribution of products and tracking the like of which the industry has never before seen. Responding hourly to critical inventory details, suppliers can make sure their products flow correctly, and stores can keep hot-ticket items on the shelf. "If someone walks into a store to buy a new DVD and the shelf is empty, then the store and possibly the manufacturer lose money," explains Young. "Efficient, detail-level planning and replenishment makes these losses avoidable, but every retail partner has different requirements, standards and expectations. eVMI has been immensely successful in helping suppliers and retailers improve customer service and realize an impressive return on investment. One of eVMI's best features is that it's highly configurable. Costly customization just isn't required." Young explains that the goal of never losing a sale while pushing inventory efficiency to very high levels is now realistically within reach, because their products are designed to handle massive amounts of highly granular information quickly and efficiently. "Sony absolutely has to manage title replenishment at the lowest level of detail, as accurately and as rapidly as possible," says David Cortese, vice president of information technology at Sony Pictures Home Entertainment. "It's an incredible challenge to do this for 60 retailers, but WebConcepts' eVMI has proven itself more than capable of doing the job for us." WebConcepts is making an impressive mark on the home-entertainment industry, landing such respected clients as Paramount Pictures, MGM Studios, Sony Pictures, and Disney. Knowing that their solutions will be of tremendous value to other segments of the consumer-products industry, as well, the company is expanding its horizons. "Our applications provide solutions to both current and emerging needs," adds Young. "We are bringing the supply-chain management system into the twenty-first century, ensuring it is better aligned with consumer demands. From the feedback we've received, our customers couldn't be happier." Contact: Jacqueline Bodnar JB@SyndicatedNews.us (702) 338-3105 Source: Syndicated News, Inc. |
 Subscribe and receive targeted press release announcements. Choose from several categories. Sign up today!  Media Searches Reference Tools Journalism Sites Public Relations PR Bookstore Organizations/Assns. Careers |