PORTO, Portugal, Oct. 10, 2019 /PRNewswire/ -- Competition to
build retail mindshare and customer loyalty has never been more
fierce. Brands must continually evolve their products and deliver a
personalized approach to win the hearts and minds of customers.
Delivering the technology that helps them do exactly that, Portugal
Country Leader Bruno Morais, and
Mike Webster, senior vice president
and general manager Oracle Retail, today unveiled a new Innovation
and Technology Center in Porto.
The center will focus initially on delivering breakthrough retail
innovations leveraging the latest technologies, including
artificial intelligence and machine learning.
"Oracle Portugal is delighted to see Oracle's Global Retail
business unit's commitment to and investment in people and
technologies in Porto. Similarly,
we are delighted to contribute to the development of Porto through the creation of this global
technology and innovation hub," said Morais. "As it is true for all
Oracle offices, we will actively foster community support and get
involved in local causes to enrich the area wherever we can."
Porto is a vibrant city that
delivers a balance of history and innovation. A report by CBRE
states that Porto ranks in the top
ten fast pace and growing technological clusters in the "EMEA Tech
Cities: Opportunities in Technology Hotspots." The technology team,
including many developers, will be dedicated to creating bespoke
integrations and enhancements to the Oracle Retail portfolio and
re-usable assets that deliver increased value to customers.
In the past year, Oracle has logged roughly 13,000 person-days
of development, focused on continuous innovation with Micro-Apps
that integrate with the base code of the Oracle Retail
portfolio.
"Porto is home to a strong pool
of tech talent coveted by major tech employers in Europe to Portugal. So it made sense to expand our
existing, globally renowned team of Oracle Retail solution delivery
experts in Porto by creating a
complementary center for innovation in the area," noted Webster.
"We believe that innovation listens more than it speaks. Our
consulting team works hand in hand with our retail customers to
understand their unique challenges and needs and translate those
into technology extensions that align with our broader roadmap. The
Innovation and Technology Center will be critical in delivering
these customer-driven enhancements to our global retail
community."
As an example, a fast-fashion retailer had wondered how a key
season was performing and trading, both locally and globally. To
address this need, Oracle Retail Consulting developed a simple but
effective solution, called Lifecycle Inventory Planning (LIP), that
extends and integrates to forecasting and planning solutions. LIP
overcomes typical item/store/day parameter management by using a
revolutionary method to set system parameters coupled with machine
learning. The data science model was able to help the retailer
obtain an end-of-life inventory projection based on the forecast,
inventory availability, and the replenishment rule setup –
improving worldwide planning. This is just one of the many
innovations generated by the Porto
development team to-date.
The Oracle Innovation and Technology Center is located in the
Centro Empresarial Lionesa Business Resort, near the beautiful
River Leça and the Leça do Balio Monastery, which is convenient for
the airport, main highways, and trains. Oracle will continue to
draw talent from nearby Universities specializing in Business and
Information Technology from the surrounding areas.
About Oracle Retail
Oracle provides retailers with a
complete, open, and integrated suite of best-of-breed business
applications, cloud services, and hardware that are engineered to
work together and empower commerce. Leading fashion, grocery, and
specialty retailers use Oracle solutions to anticipate market
changes, simplify operations, and inspire authentic brand
interactions. For more information, visit our website at
www.oracle.com/retail.
About Oracle
The Oracle Cloud offers complete SaaS
application suites for ERP, HCM, and CX, plus best-in-class
database Platform as a Service (PaaS) and Infrastructure as a
Service (IaaS) from data centers throughout the Americas,
Europe, and Asia. For more information about Oracle (NYSE:
ORCL), please visit us at www.oracle.com.
Trademarks
Oracle and Java are registered trademarks
of Oracle and/or its affiliates. Other names may be trademarks of
their respective owners.
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SOURCE Oracle