Quantum’s Q is recognised for its achievements with fast-fashion retailer New Look
LONDON, UK – 3 July 2008, Quantum Retail has come out top in the ‘Supply Chain Excellence’ category at the European Retail Solutions Show for its work with leading multi-national fashion retailer, New Look.
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 recognised 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 Optimisation 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 recognising 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 solution.”
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 answers the new questions facing retailers with a merchandise optimization suite designed for the increasing pace and complexity of the consumer revolution and today’s competitive landscape. Quantum Retail’s solutions solve the most difficult and costly problems retailers face – quickly and permanently. Our Q solution is the answer for: Forecasting and Order Planning – Replenishment and Allocation – Assortment and Range Planning.
About New Look
New Look is a store young women visit for the latest interpretations of the season’s fashion trends at low prices. With over 850 outlets across the continent, the chain is one of Europe’s leading clothing retailers. New Look’s annual group sales grew 14.9% from 2008-2009, after implementing Quantum Retail’s Q inventory management solution. Q software optimized their business strategies and helped streamline and expand their fast-moving retail supply chain. 2008-2009 FINANCIAL RESULTS »
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