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40 Top Retailers Learn How Analytics Can Improve Supply Chain Processes4R Systems and Kurt Salmon Associates Host Successful Educational Seminar "Putting 'The Paper' Into Practice" WAYNE, Pa. and NEW YORK, Oct. 17, 2002 --Companies with short lifecycle products such as books, jewelry, toys, fashion apparel, shoes, home decor and electronics are applying analytics, utilizing advanced mathematics and proprietary algorithms, to their retail supply chains to better match supply with demand. This growing trend was the focus of a seminar that stressed the importance of using the principles of rocket science retailing to decrease lost sales, reduce inventory levels and increase profits.Bringing the value of retail analytics to the forefront, 4R Systems, Inc., a leading provider of analytical software, partnered with Kurt Salmon Associates (KSA), the premier global management consulting firm specializing in the retail and consumer products industries, to host an educational breakfast seminar for senior retail executives at the New York Athletic Club in New York City last week. The invitation-only event featured 4R founders and supply chain experts Dr. Marshall Fisher, The Wharton School, and Dr. Ananth Raman, Harvard Business School, whose groundbreaking product lifecycle research with more than 30 world-class retailers has helped pioneer retail supply chain analytics. Kathryn Cullen, KSA Regional Director of the firm's IT practice, who helps consumer products manufacturers and retailers solve critical business problems, was also featured. The event examined how companies with short lifecycle products are applying analytics to their retail supply chains and was based on the highly acclaimed Harvard Business Review article, "Rocket Science Retailing is Almost Here: Are You Ready?" Co-authored by Drs. Fisher and Raman, the article highlights how sophisticated algorithms are being applied to solve complex retail supply chain issues such as replenishment and inventory reduction. The speakers discussed real-world examples of forward-thinking companies that have achieved measurable results using analytics, including Linens 'n Things, Kenneth Cole Productions and World Co. Ltd. Retailers were given the following main points to improve their bottom line: * Retailers who effectively use (not merely gather) the data they collect
will realize significant profit increases.
* Advanced retail analytics reveals the impact of past decisions and
provides tools to make better future decisions.
* Proper incentives for retail personnel can help execute an effective
supply chain plan.
Attendee Wayne Gibson, Senior Vice President of Global Logistics at The Home Depot, commented, "The seminar provided great ideas that can be applied to my business. The link between science and application were well presented."Harry Kubetz, Senior Vice President of Operations apparel retailer and manufacturer Kenneth Cole Productions, was also among the attendees at the event. Kubetz acknowledged to the audience that his company had recently implemented a forecasting solution from 4R and was "beginning to establish a disciplined process" for replenishment. Kenneth Cole implemented the new solution to help its merchants refine their forecasts based on the analysis of historical data. "It's interesting to see how employees are reacting and predicting now that they know we are recording and measuring data using analytics," Kubetz said. 4R and KSA plan to host a similar event on the West Coast in February 2003. Contact 4R Systems or KSA for more details. About Kurt Salmon Associates Kurt Salmon Associates (KSA) is the premier management consulting firm specializing in retailing and consumer products. As the global leader in supply chain management and technology solutions, KSA helps clients develop solutions for next generation growth and improvement, continuously improve supply chain efficiency, innovate best practices, improve customer satisfaction through better in-stock performance, and reduce costs. KSA's clients are leaders in retailing, and suppliers of the world's best known brands. KSA's portfolio of services helps clients in the Americas, Europe, and Asia-Pacific achieve significant gains in the areas of strategy, value chain improvement, and information technology. About 4R Systems 4R Systems, Inc. is a leading provider of analytical software that allows retailers and manufacturers to increase the profitability of short lifecycle products by accurately matching supply with demand. 4R's products leverage transactional and point-of-sale (POS) data and turn it into critical decision- making information for forecasting and supply planning. The company was founded by supply chain experts Marshall Fisher of The Wharton School and Ananth Raman of Harvard Business School, whose groundbreaking research on product lifecycles with over 30 world-class retailers pioneered the retail analytics sector. 4R is based in Wayne, Pennsylvania, and has offices in Boston, Washington, D.C. and Milan. Notable clients include Ahold, American Pacific, Kenneth Cole Productions, Linens 'n Things, Nokia and Stride Rite. For more information, please visit http://www.4rsystems.com/ or call 1-866-4RSYSTEMS. CONTACT: Heather Zoumas-Lubeski of 4R Systems, Inc., +1-610-644-1234 ext. 220, or hzoumas@4rsystems.com , Tricia Schafer-Petrecz of TMP Worldwide, +1-610-688-8130 ext. 106, or tricia.petrecz@tmp.com , for 4R Systems, Inc., or Beth Souther of Kurt Salmon Associates, +1-404-898-7819, or cbs@kurtsalmon.com Web site: http://www.4rsystems.com/ |