Mr Price Group Partners with Oracle to Revolutionize Inventory Management

Editorial Desk
By Editorial Desk 2 Min Read

Fashion retailer Mr Price Group is revolutionizing its inventory management strategy with the help of Oracle Retail Merchandising Cloud Services.

With over 2,700 stores in 9 countries, Mr Price recognized the need for a technology solution that could enhance its stock allocation, streamline operations, and keep up with consumer shopping preferences.

According to Kim Sim, Chief Information Officer of Mr Price, the company needed to modernize its retail infrastructure and leverage cloud technology to establish a sustainable and stable application foundation.

By partnering with Oracle and OLR Retail, Mr Price was able to shed its home-grown inventory management systems and embark on a journey to the cloud.

The implementation of Oracle Retail Merchandising Cloud Services has provided Mr Price with pricing, trade management, invoice matching, and sales audit capabilities out-of-the-box.

This has allowed the retailer to consolidate and simplify disparate processes across multiple business units into a single standardized process, increasing business agility and optimizing operations.

James Spalding, CEO of OLR Retail, highlighted the ability of Oracle Retail Cloud Services to supercharge Mr Price’s unique business process, data models, and systems in the cloud. As new capabilities are added to the platform, Mr Price can continually innovate to better serve its customers, business, and communities.

The transformation impacted various teams within Mr Price, including merchandise planners, buyers, supply chain planners, finance experts, ecommerce experts, and technology teams. Kim Sim emphasized the importance of change management and building the right team culture to ensure a successful implementation.

Antony Wildey, Vice President of Solution Consulting at Oracle Retail, commended Mr Price for persevering through various challenges to emerge with a modern platform that supports their future endeavors. He emphasized that in the fast-paced retail industry, it is riskier not to change.

Overall, the partnership between Mr Price, Oracle, and OLR Retail has enabled the fashion retailer to enhance its inventory management strategy, improve operations, and position itself as a valuable retailer in Africa.

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