As the first step in a planned three-year, $250 million technology upgrade, Bed Bath & Beyond will deploy Oracle Cloud as its Enterprise Resource Planning (ERP) solution, providing the retailer with real-time financial, supply chain and merchandising solutions.
Bed Bath & Beyond outlined its three-year growth plan in October 2020. The technology refresh is being accompanied by a $250 million investment in the 450 of its stores that generate 60% of the company’s revenue.
The technology investment will enable Bed Bath & Beyond to use analytics and automation to support improvements in merchandising and inventory management, product lifecycle management, retail space planning and optimization, the launch of additional private-label brands, and real-time tracking of merchandise fulfillment within the supply chain. Oracle Cloud ERP also will provide real-time financial and operational insights to support strategic planning decisions.
“We are building authority in Home, Baby, Beauty and Wellness with a digital-first, omni-always and customer-inspired approach,” said John Hartmann, COO of Bed Bath & Beyond and President of buybuy Baby in a statement. “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.”