- Addition of Q Analytics will enhance TCP's implementation of Quantum's Q for Allocation and Replenishment
MINNEAPOLIS, May 5, 2015 /PRNewswire/ -- Quantum Retail Technology™ Inc., the industry's leading provider of merchandise optimization and inventory solutions for retail has announced that The Children's Place, Inc. (Nasdaq: PLCE) has become a client of Quantum's Q Analytics for Size and Pack Optimization. The delivery of Q Analytics Size and Pack joins The Children's Place's implementation of Quantum's Q for Allocation and Replenishment, due to go live this year, and their planned implementation of Quantum's Q for Order Planning.
Q for Allocation and Replenishment gives The Children's Place the ability to optimize inventory and make smarter merchandising decisions by providing insights into consumer demand for each SKU at every store. This results in less excess inventory, more full priced sales and better store service levels. Q for Order Planning is a demand-driven solution that provides order recommendations that balance profitability and service levels for retailers.
"The Children Place's partnership with Quantum Retail represents our most recent commitment to leveraging highly innovative solutions to better manage the demands of the evolving retail landscape," said Jason McAndrew, Chief Transformation Officer and Head of Marketing for the Children's Place. "Quantum's insights into customer demand will help us meet our inventory management objectives. Q gives us a granular view to future store level performance that we can integrate with our omnichannel strategies to ensure we are leveraging our inventory most optimally to meet the expectations of our customers."
The expected benefits are further enhanced with Q Analytics for Size and Pack. This software service calculates size profiles by item based on customer demand and then calculates the optimal store pack configuration of merchandise to help align the buying quantity and pack distribution with projected store need.
"Quantum is able to take existing data, push it through their analytics platform and give us decision level information that we can immediately use to improve our buying decisions," added Jason McAndrew. "The quality, speed and consistency Quantum brings us will add significant value to the business going forward."
"The Children's Place's strategic approach, first with Quantum's enterprise solutions and now with Q Analytics Size and Pack underscores their commitment to finding innovative solutions to respond to consumers' constantly evolving expectations," said Quantum Retail CEO, Chris Allan. "Retailers are increasingly looking to leverage advanced analytics, like those delivered within Quantum's Q Analytics to quickly and efficiently translate consumer demand insights into maximized sales, profitability, and productivity in what has become a highly complex retail marketplace."
About The Children's Place, Inc.
The Children's Place is the largest pure-play children's specialty apparel retailer in North America. The Company designs, contracts to manufacture, sells and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary "The Children's Place," "Place" and "Baby Place" brand names. As of January 31, 2015, the Company operated 1,097 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 72 international stores open and operated by its franchise partners.
As consumer demand has become less predictable and as retail buying patterns and channels become more complicated many of the world's most successful retailers utilize Quantum's Q solutions. Q helps retailers with both comprehensive and granular predictions of their product demand based on consumer behavior while also providing the ability to act on that intelligence. The Q platform continuously learns and dynamically analyzes and then responds to changes in demand for every product and store location to maximize value for retailers of all types. The Q system is adaptable within the retailer's existing environment and works in conjunction with many of today's leading supply chain and merchandising platforms including Oracle, SAP, and JDA.
Q Analytics are a suite of SaaS (software as a service) solutions designed to leverage Quantum's proprietary merchandise optimization platform to solve specific retail problems and address high value opportunities for retailers.
About Quantum Retail, Inc.
Quantum Retail is the industry's leading innovator of retail focused demand driven merchandising and inventory optimization solutions. Our solutions help retailers realize the highest value from their inventory investment by understanding consumer demand and acting on it to optimally leverage their supply chain. Many of the world's top retailers are already Quantum clients. Quantum is privately held and is headquartered in Minneapolis, Minnesota. For more information on Quantum Retail technology, please visit our website at http://www.quantumretail.com
Quantum Retail and Q are registered trademarks of Quantum Retail Technology, Inc. All other trademarks are owned by their respective companies.
SOURCE Quantum Retail Technology, Inc.