Clarity of purpose is a wonderful thing. To start with a core function that solves one of the most stubborn problems in retail, ensuring the right products are on the shelves, and building out tools to support that end across the entire value chain, provides a very real benefit to the industry.
RELEX, the Finnish software company, held one of their RELEX Live customer events in Atlanta last week. They have been growing at a brisk pace for several years, but it struck me immediately how familial and humble their culture is, which is a superpower according to the customers I spoke with. That said, they are deeply committed to innovating with their solutions, devoting 35% of their entire company staff to R&D personnel.
The company’s growth has been on the back of its forecasting and replenishment, and space and assortment planning solutions in the FMCG space. Of course, as with every other solution provider in the market, they have incorporated machine learning and genAI into their offerings to improve functionality and accuracy. I found it interesting how they are tying their core solutions into new offerings that naturally extend their value and create ways for their customers to enhance their operations and sell through.
- RELEX MobilePro is not just another task management offering. It's a powerful tool that empowers retailers to maintain store inventory levels according to plan and enables associates to swiftly address issues related to out-of-stock and expiring fresh items. This not only allows store managers and corporate executives to manage plans more efficiently but also enhances the customer service provided by associates. Unlike other solutions in the market, MobilePro is seamlessly integrated into RELEX's forecast and planning tools, creating a strong link between planning and execution.
- RELEX Unified Promotions is another new offering from the company that leverages the data from the planning process to serve as a foundation for the promotion plan. However, the solution does have its own forecasting model called the Commercial Forecast, which models how different choices affect promotional uplift. Where it gets interesting is that promotional campaign level data is then automatically fed into the core forecasting & replenishment model (the Operational Forecast) to ensure there is a continuous feedback loop as to the needs for re-stock, safety stock, etc. Like with MobilePro, the claims of advantages of quicker time to market, more efficient execution and reduced costs from multi-vendor offerings make sense.
- It only makes sense that if a promotions solution is released, it should be accompanied by a pricing solution. RELEX’s Pricing Lifecycle Solution was designed to help its customers have an integrated view of pricing, promotions, and the supply chain, which can create a more efficient process across divisions. Also, by providing visibility into the effect of pricing on sales, it can be fed back into the promotions and replenishment process, improving sales and protecting margins.
Several other announcements were made related to their expanded Consumer Products offering (with the acquisition of Optimity) but that is for another blog.
RELEX has a very clear purpose and is building out its portfolio to meet that purpose. Sell more and waste less - a value proposition that every retailer would agree with.
