Bed Bath & Beyond is integrating Oracle Cloud technology to deliver merchandising and supply chain insights in real time, the first investment of a planned $250 million technology investment by the retailer that will lean into analytics and automation — such as the Oracle platform — to support improvements in merchandising and inventory management, product life cycle management, retail space planning and optimization, the launch of new owned brands, and real-time tracking of merchandise fulfilment within the supply chain. Oracle Cloud ERP will also provide real-time financial and operational insight to support strategic planning decisions.
“Having the right retail technology in place is fundamental to Bed Bath & Beyond’s transformation strategy and Oracle is proud to be supporting them in this journey,” said Mike Webster, Senior Vice President and General Manager, Oracle Retail. “By adopting Oracle Cloud, Bed Bath & Beyond will be better able to manage its continually evolving inventory, plan margins, and improve sales forecasting in a digital-first shopping environment.”
Store Brands recently profiled the retailer’s transformational strategy, one that expects to focus heavily on private brands. Oracle has been busy working with private brand solutions recently as well, teaming with FoodChain ID on safety of store brand foods, and introducing an updated inventory platform.
John Hartmann, Bed Bath & Beyond’s chief operating officer and president of buybuy BABY said about the latest move, “We are building authority in home, baby, beauty and wellness with a digital-first, omni-always and customer-inspired approach. Oracle’s proven leadership and state-of-the-art technologies will allow us to better serve customers and improve the efficiency and effectiveness of our business. Additionally, the agile partnership will enable continual innovation and improvement as our enterprise evolves.”