Oracle ( ORCL Quick Quote ORCL - Free Report) Retail Merchandising and its Fusion Cloud Financials were selected by the online supermarket Flink to enable swift grocery deliveries within minutes in Germany, the Netherlands and France. These systems enhance automation and visibility, allowing Flink to efficiently manage inventory across hubs and distribution centers. Flink sought an agile merchandising solution to enhance scalability and operational efficiency across its inventory and financial processes. Retail Consult, a member of the Oracle PartnerNetwork, spearheaded the project, playing a vital role in project management and achieving success, even with reduced staff availability during the pandemic. Partnering with Oracle and Retail Consult, Flink efficiently implemented its essential Oracle merchandising and financials components within a short seven-month timeframe. This effort resulted in enhanced data visibility and automation, leading to a more robust supply chain, quicker decision-making regarding business operations and inventory management, and streamlined purchase order creation and invoice matching in the procurement process. Here's How Cloud Computing Is Transforming the Retail Sector
Contrasting with conventional retailers, the utilization of cloud computing and cloud-based data analytics empowers retail businesses to adopt a more data-centric approach and devise creative marketing strategies.
Cloud services offer extensive benefits to the retail sector, encompassing cost reductions in infrastructure, storage and computing as well as facilitating instant access to operational and inventory information. Cloud computing is driving significant changes in the retail industry, encompassing improved inventory control, data protection, enhanced customer experiences, increased profitability and disaster recovery capabilities. According to the latest forecast from Gartner report, worldwide end-user spending on public cloud services is estimated to grow 23.1% in 2021 to $332.3 billion, up from $270 billion in 2020. Shares of Oracle, which currently carries a Zacks Rank #3 (Hold), have gained 28.3% year to date compared with the Zacks Computer and Technology sector’s rise of 33.1% due to high competition in the retail sector from giants like Microsoft ( MSFT Quick Quote MSFT - Free Report) cloud, IBM ( IBM Quick Quote IBM - Free Report) cloud and Alphabet’s ( GOOGL Quick Quote GOOGL - Free Report) Google cloud. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Microsoft Cloud for Retail expedites business expansion by delivering reliable solutions tailored for the retail industry that seamlessly integrate with a retailer's existing systems. With a comprehensive range of retail-focused features spanning the Microsoft Cloud portfolio and complemented by partner solutions, it enables the seamless connection of customers, staff and data. IBM's retail technology solutions improve operations, support sustainability efforts and provide a smooth omni-channel customer experience in the retail sector. IBM Cloud has been purposefully designed to meet the cloud computing needs of enterprises. Google Cloud aids in delivering exceptional customer experiences and expediting transformation within the retail organization through the utilization of Google Cloud's suite of intelligent solutions. Retailers utilize Oracle Retail Merchandising Cloud Services for essential merchandising functions, such as managing merchandise, inventory, replenishment, procurement, conducting sales audits and handling pricing. The recently introduced Oracle Retail Pricing Cloud Service enables the definition, upkeep and evaluation of price adjustments, clearances and promotions. This is expected to boost cloud service and license revenues in the upcoming quarters. The Zacks Consensus Estimate for ORCL’s fiscal 2024 cloud services and licence revenues is pegged at $44.65 billion, indicating year-over-year growth of 26.48%. The Zacks Consensus Estimate for earnings is pegged at a profit of $5.53 per share, indicating year-over-year growth of 8.01%.