Weis Markets today announced the chain-wide deployment of Profit Amplification, a predictive analytics solution from Profitect.
By implementing Profit Amplification in all 162 stores, Weis will be equipped to improve efficiencies and decrease out-of-stocks, according to Scott Frost, SVP, CFO and Treasurer of Weis Markets.
Using Profitect, Weis will have “a single, integrated solution, which could transform our teams and stores processes,” Frost said in a company press release. “The ability to quickly impact the top and bottom line and make more informed decisions is a critical component of our strategy to exceed the expectations of our customers.”
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The Profit Amplification solution taps predictive analytics and pattern-seeking algorithms to prioritize opportunities, identify problems and provide necessary action items. It can help streamline several retail operational areas, including inventory distortion, on-shelf availability, shrink, waste/damage, process compliance and operational risks.
“We needed a predictive analytics solution that could identify traditional asset protection challenges, but more importantly, improve the customer experience by reducing out-of-stocks and improving efficiencies in a proactive manner,” said Mike Limauro, VP of Asset Protection at Weis Markets. The new solution, he added, “will help reduce the overall cost to our business while increasing profits across the entire enterprise.”
The 162 Weis Market locations are centered in five states: Maryland, New Jersey, New York, Pennsylvania and West Virginia.
