Bed Bath & Beyond Inc. tapped Oracle as its enterprise resource planning technology provider Feb. 11. Oracle Cloud will provide real-time financial, supply chain and merchandising solutions, replacing the systems Bed Bath has used for years and providing the company with new data, insights and planning capabilities.
“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,” Bed Bath’s Chief Operating Officer and President of buybuy BABY John Hartmann said in a prepared statement. “Additionally, the agile partnership will enable continual innovation and improvement as our enterprise evolves.”
Oracle’s deployment is the first component in Bed Bath’s $250 million technology investment roadmap to enhance customer experience and drive enterprise-wide efficiencies. These technology investments will enable Bed Bath to use analytics and automation to support improvements in merchandising and inventory management, product life cycle management, retail space planning and optimization, the launch of an array of exciting Owned Brands, and real-time tracking of merchandise fulfillment within the supply chain, according to Thursday’s announcement.
Oracle Cloud ERP will also provide financial and operational insight in real time 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 Oracle Retail Senior Vice President and General Manager Mike Webster in a prepared statement. “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.”