Q&A: Jason Berry, Senior Vice President at RELEX Solution
Jason Berry, Senior Vice President at RELEX Solutions, is an accomplished software executive with extensive experience in various services and applications, specializing in the retail industry in EMEA.
Can you tell us a bit about your background?
Jason Berry is the Senior Vice President at RELEX Solutions. He is an accomplished software executive with extensive experience in various services and applications, specializing in the retail industry in EMEA.
What does your company do? / What is your USP?
At RELEX Solutions, we are at the forefront retail and supply chain planning. Our integrated approach leverages advanced AI and machine learning technologies to not just predict but proactively manage retail needs. Our USP lies in our ability to offer a unified solution that seamlessly integrates various aspects of retail operations – from merchandising and supply chain management to inventory control and workforce optimization.
This comprehensive platform enables retailers to streamline their operations, ensuring that each component works in harmony. By using predictive analytics, we help businesses anticipate market demands, optimize inventory levels, and minimize waste. The result is a more efficient, responsive, and customer-centric retail experience.
In essence, RELEX Solutions isn’t just about providing a service; it’s about transforming the way retail works, making it smarter, more sustainable, and ultimately more profitable.
What’s special about the platform and your approach?
The platform stands out for its comprehensive and unified approach to supply chain planning, demand forecasting, and merchandising. It is highly adaptable and scalable, catering to businesses of various sizes and sectors. Our approach to developing solutions involves close collaboration with clients, emphasizing agility and continuous improvement.
What advantage does it add?
The advantages offered by RELEX typically include increased efficiency, reduced costs, better inventory management, and the ability to respond quickly to market changes. This can result in improved profit margins and customer satisfaction.
How does a product/service implementation actually look like and how do you measure success?
Implementation of a product or service like RELEX often begins with a detailed analysis of the client’s needs, followed by a tailored setup and integration with existing systems. Success is measured by KPIs that may include inventory turnover rates, service levels, waste reduction, and improvements in forecast accuracy.
Moreover, our success is further validated by our exceptional retention rates and a high Net Promoter Score of 60, coupled with a 100% success rate in implementations, underscoring our industry-leading position. This excellence in service and customer satisfaction has been recently acknowledged in our recognition as a leader in the Forrester Wave report, a testament to our commitment to delivering unparalleled value and innovation in retail and supply chain planning.
How are retailers using your systems to gain competitive advantage and what does best practice look like? Can you share a case study with us?
Retailers gain a competitive edge using RELEX by optimizing supply chain and promotional strategies.
- For instance, One Stop significantly improved supply chain efficiency and product availability through RELEX’s AI-driven demand forecasting, achieving increased forecast accuracy, reduced spoilage, and better handling of complex inventory like weather-sensitive and short-shelf-life items
- The Vitamin Shoppe enhanced their omnichannel retail strategy by implementing RELEX, which improved forecasting for promotions and new products, optimized inventory across channels, and empowered their planning team with flexibility and configurability, leading to more accurate demand management and efficient inventory allocation
- JJ Food Service significantly enhanced their promotional strategies and profitability using the RELEX for promotion planning, achieving a 10% increase in sales volume and a 7% rise in profits for promoted items, while gaining insights into optimal pricing and product targeting for their diverse customer base.
Are there other companies you partner with?
Certainly, we work with several partners globally. Most recently, we announced our strategic partnership with Accenture to provide retailers and consumer goods companies with enhanced supply chain and retail planning solutions. This partnership leverages the advanced planning capabilities of RELEX and Accenture’s deep industry experience to help clients worldwide improve product availability, increase sales, and achieve better investment returns while promoting sustainability. Our broader partner ecosystem allows customers with many options to formulate a strategy specific to their goals and objectives successfully while leveraging our best-in-class solutions.
What challenges and opportunities do you see in UK retail for 2024 / What challenges are retailers facing in 2024?
In 2024, the UK retail sector faces a unique set of challenges and opportunities. One significant challenge is the rising interest rates, which are expected to lead to a lower acceptance rate for consumer checkout finance. This change could shift spending trends, making it more challenging for retailers to increase the average order value. Additionally, the ongoing cost of living crisis is altering consumer budgets and spending habits, compelling retailers to adapt their strategies to meet evolving consumer needs.
However, these challenges also bring forth opportunities. One notable trend is the rise of ‘recommerce’. There is a growing awareness of the environmental impact of consumerism, leading both businesses and shoppers to embrace concepts such as buying used and second-hand items, along with reusing, reselling, and thrifting. This shift not only caters to the eco-conscious consumer but also opens up new avenues for retailers to diversify their offerings and engage with a broader customer base.
While 2024 presents hurdles like economic fluctuations and changing consumer behaviours, it also offers a chance for retailers to innovate and adapt, particularly in embracing sustainable practices and exploring new market segments.
How will you address these challenges and turn them into successes?
RELEX is uniquely positioned to help retailers navigate the dynamic challenges of the UK market. Our approach begins with a holistic optimization of the retail planning process, encompassing inventory, supply chain, and merchandising. This comprehensive strategy is vital in adapting to the current economic climate, characterized by rising interest rates and evolving consumer spending habits.
In addition, our promotion and price planning software play a key role in enabling retailers to maintain attractive and financially viable promotions. This is particularly crucial in addressing the shifts in consumer spending patterns and preferences.
Furthermore, our commitment to sustainability is evident in our efforts to reduce waste and improve efficiency, aligning with the growing consumer interest in recommerce. By integrating these elements – holistic retail planning, effective promotion and pricing strategies, and a focus on sustainability – we empower retailers to transform challenges into opportunities for growth and resilience.
What is on the horizon for you as a company?
Our vision is to continue helping more companies within the consumer goods value chain to maximize customer satisfaction at the lowest operating cost in a rapidly changing business environment. We achieve this through a combination of autonomous, adaptive, and synchronized planning, optimization, and execution.
Any final thoughts?
RELEX Solutions is continually poised to address the evolving needs of the retail industry. Our commitment to innovation and adaptability ensures we remain at the forefront, particularly in leveraging AI and machine learning for advanced supply chain and retail planning. We are dedicated to sustainability, reducing waste, and optimizing operations in line with global environmental trends. Our focus is on deepening client relationships, ensuring collaborative success, and driving efficiency. Looking ahead, we aim to expand our reach, continuously improving our solutions to meet the dynamic challenges of the retail sector, thereby maximizing customer satisfaction and operational efficiency in an ever-changing business landscape.
…………………..
To find out how Relex can help your retail operation, visit them online here or connect with them here.
