Symphony RetailAI, provider of the industry’s leading AI-enabled platform and customer-centric solutions that deliver profitable growth for retailers and CPG manufacturers, today announced that Nahodka is implementing Symphony RetailAI Demand Forecasting, Store Replenishment and Warehouse Replenishment.
Nahodka, a fast-growing retailer in the Volga region of Russia, is one of the few retailers that provides customers with the best assortment at the best price. To support its aggressive growth plans, Nahodka needed to optimize inventory management, reduce operational costs and increase demand forecasting accuracy across its extensive supply chain.
After reviewing multiple local and worldwide vendors, Nahodka selected Symphony RetailAI for its cloud-based approach, avoiding the additional need to integrate applications and resources to support IT infrastructure internally. Symphony RetailAI also offered a robust architecture that was the best functional fit for the IT strategy of the company.
“We consider supply chain efficiency and high-quality demand forecasting to be critical in driving customer satisfaction and ensuring that the right products are available at the right time, at the most affordable price,” said Sergey Surmach, Director, Nahodka Retail. “We have an extensive and growing retail operation that will benefit from Symphony RetailAI’s cutting-edge technologies and global best practices.”
Symphony RetailAI’s solutions enable Nahodka to automatically manage replenishment, speeding time to shelf. Furthermore, the technology recognizes and tracks fresh items separately, so the retailer can be alerted to date sensitivity and account for real-time adjustments in demand. The solutions also will help to reduce ineffective stocks, decrease spoiled products and ensure increased service levels across end-to-end supply chain.
“When choosing an IT solution, we always try to avoid customization and build our business processes in the way that an IT product supports,” said Alexander Sannikov, director of IT stores Nakhodka. “The functionality of the Symphony RetailAI solution has completely suited us, and the company will not have to make significant changes to the current business processes.”
“For Nahodka, and all of our customers, we promise to be the easiest company to do business with, provide the best quality and service, and deliver breakthrough innovations, all while driving measurable revenue and margin growth in the first year of the relationship,” said Stanislav Krupnick, Country Manager, RCIS and Head of Sales, CE, Symphony RetailAI. “We’re excited to deliver on this promise as we help Nahodka bring new capabilities to its supply chain and make sure its customers’ needs are met.”
The implementation of the project will be carried out by Consulting for Retail (C4R), which has extensive experience in optimizing supply chain processes that will help to ensure a smooth and rapid deployment of Symphony RetailAI’s solutions.