Quantum's Q solution has been used by New Look Since October 2007 to manage its
inventory replenishment and allocation processes across its 600 locations. The excellent results yielded by Q have not gone unnoticed by the retail technology industry, a fact reflected at the European Retail Solutions Awards ceremony.
New Look's Group IT & E-Commerce Director, Adrian Thompson, said: "As a fast fashion business with our customers at the core of everything we do, we recognized that Quantum Retail's demand forecast model offered us an opportunity to gain significant competitive advantage," Thompson was also impressed with Q's return on investment: "Q went live within 7 months, and had paid for itself just 5 months later."
Over the last 12 months, New Look has increased its retail space by 20% and diversified into new online and franchised channels. In order to support its expansion and diversification, New Look required a superior replenishment solution to improve management of store/SKU demand and supply. Following an extensive review of the solutions available on the market, Quantum's Q solution was selected.
Spencer Maynard, Head of Stock Optimization at New Look added: "Q has enabled us to proactively manage products by exception, whilst the Q system takes care of the day-to-day decisions. We can now focus our attentions on expanding the business and exploring new routes to market."
The prestigious European Retail Solutions Awards is an annual event focused on recognizing retailers and suppliers for excellence and innovation in retail technology. The awards ceremony was held at Old Billingsgate Market in London, following the second day of the Retail Solutions Show.
Chris Allan, Co-Founder of Quantum Retail was delighted with Quantum's achievement: "We are proud to be acknowledged as the leading retail supply chain technology solution at the European Retail Solutions Awards. We believe our solution is the best way to allocate and replenish goods, and we are glad to see that the retail industry has seen the definitive and tangible benefits of the Q system."
Phil Wrigley, New Look's Chairman, concluded: "The Quantum implementation at New Look has been first class. It has placed the customer at the heart of our stock management, and has delivered impressive financial payback."
About Quantum Retail Technology, Inc.
Quantum Retail Technology, Inc. is a leading provider of software solutions that enable demand driven supply networks. Quantum's flagship solution, Q, allows retailers to optimize inventory availability and supply network performance with low risk and high ROI. Q helps retailers continually achieve the merchandise and financial goal for every item in every location. By leveraging item assortment strategies and goals, Q links the art of merchandising with the science of inventory fulfillment. Q is available as an annual subscription and Quantum Retail offers low-impact pilots to ensure value delivery, alignment of investment to benefits and rapid ROI. Q can be deployed in either hosted or customer deployed environments. Quantum Retail's customers include Guitar Center and New Look. For additional information email info@quantumretail.com or visit www.quantumretail.com
About New Look
New Look has 598 stores in the UK and Eire, and 265 stores in France & Belgium trading under the name Mim. In addition, New Look has 15 New Look branded stores in France and Belgium, and has recently opened franchise stores in Dubai, Kuwait and Saudi Arabia.
New Look has a volume share of 5.6% in the Women's Outer/Sportswear age 16+ market, and is the 3rd largest retailer by volume in this market. New Look also has a growing market share in Mens & Kidswear.
New Look is now the number 1 retailer of women's shoes in the UK by volume, with a market share of 7.4%. (Source - TNS).
38% of the British female population(1) has purchased an item of Womenswear(2) from New Look in the past year (52 w/e 30th March 2008). This amounts to just under 9.2 million individuals. The average age of shoppers in New Look is 31.
Further information can be found on www.newlook.co.uk and Product and Management photos are available upon request.
(1) aged 12+ years; excluding Northern Ireland
(2) includes Women's Outer/Sports, Nightwear, Underwear, Hosiery, Footwear & Accessories
Quantum's Q software is recognized for its achievements with fast
fashion retailer New Look
Source by pr-inside.com
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