Award-winning innovation in retail
RIS News Software Leaderboard 2010
Companies to Watch Six outstanding companies expand their footprint in retailing
Quantum Retail has experience explosive growth and has reportedly grown 976.4 percent over the past three years. Founded by a team of retail industry experts, technologists and scientists, Quantum Retail offers technologies that help improve sales and margin by localizing inventory, reducing unproductive and excess inventory, bringing together disparate processes and providing real-time BI. Quantum’s mission is to provide innovative, yet practical, software solutions that help retailers succeed. Its world-class inventory optimization solution, Q, is a retail management system that optimizes distribution, allocation, replenishment and assortment, while helping supply chains increase margin and reduce stock-outs.
Quantum Retail Technology ranked 17 in the 2009 Fast 50
Quantum Retail Technology ranked 17 with 119% annual revenue growth in the Minneapolis | St. Paul Magazine Fast 50 for 2009.
“We came out of the retail software industry having worked with somewhere in the neighborhood of 150 of the top 200 retailers in the world between all the founders of [Retek],” said Vicki Raport, co-founder and CEO of Quantum Retail. “When we decided we wanted to see if there was an opportunity in the market for us to do something different, we laid out the problems retailers are facing and what we can do to help them.”
Co-Founder Vicki Raport – selected nationally as 1 of 9 Entrepreneurial Winning Women for 2009
Ernst & Young’s Entrepreneurial Winning Women™ program 2009
Co-founder Vicki Raport was one of nine female entrepreneurs selected to participate in the Ernst & Young Entrepreneurial Winning Women™ program designed to accelerate the growth of high-potential businesses founded by women entrepreneurs. The winners were selected from a competitive list of women entrepreneurs residing across the US by a diverse group of independent judges.
Quantum Retail Technology Ranked 11th Fastest Growing Private Software Company in America
Inc. 500 2009
Inc. Magazine ranked Quantum Retail Technology the eleventh fastest growing privately owned software company with a three-year growth rate of 963.4% in its annual ranking of the 500 fastest-growing private companies in America. Quantum Retail was the 212th fastest growing private company overall, and the fourth fastest in the Minneapolis-St. Paul region.
Quantum Retail’s customers setting Gold Standard for best in class retail inventory management practices 2009
Aberdeen Group Benchmark Report states retailers with best in class inventory management practices are outperforming others in metrics such as significantly higher inventory turn rates.
Balancing store-level safety stock and service levels are the key to success. Retailers such as New Look with the support of Quantum Retail have proactively addressed excess store inventory complexity and reduced 5% of excess inventory from stores through optimized store allocation strategies. The results include improved turnover by 1.5 times and improved gross profit margin by 4% year-over-year
Quantum Retail wins ‘Supply Chain Solution of the Year’ at the Retail Systems Awards, 2008
Quantum Retail is awarded the 2008 Retail Systems Supply Chain Solution of the Year Award for its work with leading EMEA fashion retailer, New Look.
Balancing store-level safety stock and service levels are the key to success. Retailers such as New Look with the support of Quantum Retail have proactively addressed excess store inventory complexity and reduced 5% of excess inventory from stores through optimized store allocation strategies. The results include improved turnover by 1.5 times and improved gross profit margin by 4% year-over-year
Quantum Retail wins ‘Supply Chain Excellence’ at the European Retail Solutions Awards, 2008
Quantum’s Retail’s Q is recognised for its achievements with fast-fashion retailer New Look.
After accepting the award, Quantum Retail stated that, “In Q we’ve created a next generation inventory fulfillment module that determines inventory need anywhere in the supply network. We’re very proud of what we’ve achieved but most importantly of what our clients have achieved.” After less than 6 months of operation, New Look were able to realize an increase in full price sales across the estate by 2%, with less stock. At the same time by reducing markdowns, gross margin increased by 4%.
