Bed Bath & Beyond Inc. (Nasdaq: BBBY) today announced it has selected Oracle as its Enterprise Resource Planning (ERP) technology provider. Oracle Cloud will provide real-time financial, supply chain and merchandising solutions, replacing the Company’s legacy suite of technology systems and delivering new data, insights and planning capabilities.
John Hartmann, Bed Bath & Beyond’s Chief Operating Officer and President of buybuy BABY said, “We are building authority in Home, Baby, Beauty and Wellness with a digital-first, omni-always and customer-inspired approach. 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. Additionally, the agile partnership will enable continual innovation and improvement as our enterprise evolves.”
The ERP deployment is the first key component in the Company’s $250 million technology investment roadmap to deploy industry-leading solutions that enhance the experience for customers and drive efficiencies across the enterprise. These technology investments will enable the use of analytics and automation to support improvements in merchandising and inventory management, product life cycle management, retail space planning and optimization, the launch of an array of exciting Owned Brands, and real-time tracking of merchandise fulfilment within the supply chain. Oracle Cloud ERP will also provide real-time financial and operational insight to support strategic planning decisions.
“Having the right retail technology in place is fundamental to Bed Bath & Beyond’s transformation strategy and Oracle is proud to be supporting them in this journey,” said Mike Webster, Senior Vice President and General Manager, Oracle Retail. “By adopting Oracle Cloud, Bed Bath & Beyond will be better able to manage its continually evolving inventory, plan margins, and improve sales forecasting in a digital-first shopping environment.”
