Logility Turbocharges New Product Introductions to Reduce Risk and Uncertainty
January 13 2020 - 8:30AM
Business Wire
Digital Planning Innovations Sense and Respond
to Market Conditions, Accelerate Time to Market and Improve
Profitability of Product Launches
Logility, Inc., automating the digital transformation of
advanced retail planning and supply chain optimization, today
announced the availability of enhanced new product introduction
(NPI) capabilities to help retailers and brand owners harness
additional data sources to accelerate decision making and
strategically plan, design, source, allocate and replenish
merchandise to improve the likelihood of full-price
sell-through.
According to the Gartner report, Excellence in Business Cases,
Metrics Alignment and Cross-Functional Involvement Leads to NPI
Success, Janet Suleski and Mike Griswold, 8 May 2019, “On average,
43% of new products and 41% of refreshed or line-extension products
introduced to the market fail to meet one or more of the key target
metrics established in the business case.”
In an age where customer preferences change rapidly and there is
a growing need for more niche merchandise, new product launches are
high risk investments for companies. Each launch is unique and
product development often encompasses a complex global network of
suppliers and partners that must work in concert to ensure a
successful launch. Often, supply issues such as material
constraints, cost overruns or miscommunication with suppliers lead
to delays and contribute to financial difficulties. Adding to these
challenges, planning organizations often struggle with demand
uncertainty leading to either too much inventory that must be sold
at or near a loss or missed sales due to a lack of sufficient
supply to meet demand.
A schedule delay at a single supplier can have a ripple effect
across the supply chain leading to cost overruns, missed sales
opportunities and a failed product launch. Logility’s always-on
digital platform reduces the risks associated with new product
introductions by utilizing multiple data sources including PLM
(product lifecycle management), merchandising, POS (point-of-sale),
social signals and other enterprise data sources to develop a more
accurate demand plan. Through advanced demand sensing techniques,
Logility is able to quickly adjust the demand profiles and further
optimize sourcing, manufacturing, replenishment and pricing
decisions.
“Today’s hypercompetitive market requires companies to be more
nimble, able to sense and react quickly to changes in demand,” said
Allan Dow, president, Logility. “The Logility Digital Platform is
helping transform the new product introduction process using
advanced techniques to develop a more accurate plan and gain new
insights so companies can make better decisions faster and
determine where to place merchandise for the greatest margin
potential. To maximize the potential of a new product launch you
need a strategy to identify and harness decision-quality data to
feed your retail and business planning process.”
To learn more about Logility’s solutions for Retail, please
visit https://www.logility.com/industries/retail/.
About Logility
Accelerating digital supply chain and retail planning from
product concept to customer availability, Logility helps companies
seize new opportunities, sense and respond to changing market
dynamics and more profitably manage their complex global
businesses. The Logility Digital Platform leverage an innovative
blend of artificial intelligence (AI) and advanced analytics to
automate planning, accelerate cycle times, increase precision,
improve operating performance, break down business silos and
deliver greater visibility. Logility’s SaaS-based platform
transforms sales and operations planning (S&OP) and integrated
business planning (IBP) processes; demand, inventory and
replenishment planning; global sourcing; quality and compliance
management; product life cycle management; supply and inventory
optimization; manufacturing planning and scheduling; retail
merchandise planning, assortment and allocation. Logility customers
include Big Lots, Fender Musical Instruments, Husqvarna Group,
Parker Hannifin, Verizon Wireless, and VF Corporation. Logility is
a wholly owned subsidiary of American Software, Inc. (NASDAQ:
AMSWA). To learn how Logility can help you make smarter decisions
faster, visit www.logility.com.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to substantial risks and uncertainties. There are a number
of factors that could cause actual results to differ materially
from those anticipated by statements made herein. These factors
include, but are not limited to, continuing U.S. and global
economic uncertainty, the timing and degree of business recovery,
unpredictability and the irregular pattern of future revenues,
dependence on particular market segments or customers, competitive
pressures, delays, product liability and warranty claims and other
risks associated with new product development, undetected software
errors, market acceptance of Logility’s products, technological
complexity, the challenges and risks associated with integration of
acquired product lines, companies and services, as well as a number
of other risk factors that could affect the Company’s future
performance. For further information about risks the Company and
American Software could experience as well as other information,
please refer to American Software, Inc.’s current Form 10-K and
other reports and documents subsequently filed with the Securities
and Exchange Commission. For more information, contact: Vincent C.
Klinges, Chief Financial Officer, American Software, Inc., (404)
264-5477 or fax: (404) 237-8868.
Logility® is a registered trademark of Logility, Inc. Other
products mentioned in this document are registered, trademarked or
service marked by their respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20200113005096/en/
Justin Siefert Logility jsiefert@logility.com 404.264.5485
www.logility.com/blog
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