Profitect Inc., provider of prescriptive analytics for the retail industry, has announced that Factory 54, a fashion focused apparel retailer based in Israel, has renewed its Planning & Buying Module license. Factory 54 is using Profitect's cloud based solution to provide them with visibility into their product allocation effectiveness.
Factory 54, part of the Irani Group, is focused on providing its customers with fashion forward selections based on international brands such as Alexander Wang, Armani, Carven, Joseph, Just Cavalli, Marc Jacobs, Missoni, Paul Smith, Tory Burch, Valentino, Versace, and Zegna. It is critical for Factory 54 to have the right product, size, and color in the right store to achieve its sales goals. In order to improve their execution and sales they turned to Profitect.
Profitect's solution eliminates legacy reporting approaches which requires large volumes of information to be interpreted, and replaces it with an automated action focused method.
"Profitect enables us to increase operating margin and sales by providing descriptive insights into the gaps that exist within the product allocation process," said Odelia Levanon, CIO, Irani Group. "Prescriptive Analytics is the next big thing in business intelligence for retail. It enables us to easily share the information with all areas of the supply chain and store operations. The incorporated workflow and guided action generate the clear value."
"We're excited to continue our partnership with Irani Group. I'm impressed with Factory 54's commitment to their customers' needs," said Guy Yehiav, CEO, Profitect. "It has been exciting to watch them realize the benefits of our innovative pattern-seeking, cloud-based prescriptive analytics solution."