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Nick Gallegos
Vice President of Sales and Marketing and General Partner
Wilson Farms Neighborhood Food Stores
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5/22/2008
Consumer-driven Enterprise Management™ Solutions Debut at IRI Summit
IRI introduces next generation solutions enabling companies to utilize insight into consumer characteristics and behavior to drive customer-facing bus
Chicago and Miami Beach – February 28, 2005 – IRI’s new business discipline called Consumer-driven Enterprise Management™ made its debut this week at the Reinventing CPG and Retail Summit held here in Miami Beach. Information Resources, Inc. (IRI), the leading global provider of enterprise market information solutions for the CPG, Retail, and Healthcare industries, today announced the first applications for Consumer-driven Enterprise Management, the first in a series of breakthrough solutions that enable CPG manufacturers and retail companies to use comprehensive knowledge about consumers and their buying patterns to drive business decisions.
Consumer-driven Enterprise Management drives ROI
IRI’s Consumer-driven Enterprise Management Software Solutions for the Consumer Packaged Goods (CPG) industry provide companies the ability to put the insights they have about their consumers to immediate use in driving key business decisions. These solutions provide a unique framework for all phases of planning, performance analysis, and rapid decision making required to optimize brand management, trade promotion, and sales and operations management. Today, no other company offers this unique combination of market information, analytics, and technology to address these critical business issues.
“Consumer-driven Enterprise Management is a breakthrough for our industry,” said IRI Chairman, Romesh Wadhwani. “Utilizing the three key elements of comprehensive market intelligence, automated analytics and decision support software, companies can dramatically improve their bottom line performance by tailoring their products, merchandising and marketing to their specific consumer segments.”
The new discipline currently has four major application suites:
Consumer Brand Management™
IRI’s decision support applications enable companies to quickly balance brand portfolios and trade promotion spending based on profitability and demand across multiple consumer segments and geographies. These applications typically yield a 20 – 30% improvement in merchandising effectiveness and reduce unnecessary price reductions in locations where demand is strong.
Consumer Demand Management™
Using up-to-date consumer sales data and powerful causal models allows for more accurate and responsive demand predictions. This customer-driven planning model helps reduce both stock-outs and excess inventory, which can impact bottom line performance by as much as 10%.
Consumer-Centric Merchandising™
Both Retailers and Manufacturers are adapting more consumer-based category and merchandizing strategies. The IRI solutions provide a seamless end-to-end process - from planning business strategy to in-store execution. Category and customer segment performance can be tracked and planned at a more granular level to help optimize merchandizing activity adapted down to individual household and store level.
Retail Performance Management™
The solutions provide CPG manufacturers visibility into daily sales of their products on a store-by-store basis. Built-in automated analytics are used to identify out-of-stock situations as well as monitor promotion effectiveness. Pre-defined best practice reports and alerts help quickly boost profitable revenue by minimizing lost sales due to out-of-stocks and poor retail compliance with planned promotions. The system also tracks distribution voids on new products, a challenge when a new product is being launched in multiple markets and channels at once.
Powered by IRI’s MarketKnowledge™ Platform
The IRI Consumer-driven Enterprise Management suite leverages the unique processing power of IRI’s MarketKnowledge™ Platform, a revolutionary new capability that provides integrated, daily, point-of-sale data on-demand, by named retailer, enabling manufacturers and retailers to dramatically improve revenue performance and retail execution. MarketKnowledge is the foundation for IRI’s next generation of business decision solutions and is currently powered by daily data from seven leading retailers: Albertson’s, A&P, Brookshire Grocery Company, Giant Eagle, Fred’s, Food Lion, and Walgreens.
More information on the Consumer-driven Enterprise Management solutions is available at www.infores.com.
About Information Resources, Inc.
Information Resources, Inc. (IRI) is the leading global provider of enterprise market information solutions for the CPG, Retail and Healthcare industries. IRI is the first company to leverage the power of real-time market information, advanced analytic insights, and enterprise performance management technology to improve the profitability and operational effectiveness of the world’s leading CPG, retail and healthcare companies. The Company uniquely provides a total view of the market, enabling maximum business performance throughout the enterprise. IRI's solutions make the consumer-driven, real-time enterprise possible. More information is available at www.infores.com.
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