JCPenney continues ProfitLogic's markdown optimization solution for retail

15 Jun '05

2 min read

Leading retail profit solution provider ProfitLogic announced JCPenney is continuing its relationship with ProfitLogic for Markdown Optimization. JCPenney began working with ProfitLogic in 2001 and was the first large-scale retailer to implement ProfitLogic's Markdown Optimization solution. The retailer extended the use of ProfitLogic analytics and optimization into its assortment and allocation process in 2004.

JCPenney's initial decision to work with ProfitLogic coincided with the beginning of a multi-year strategic transformation focused on key initiatives to centralize buying and planning to better serve customers. Applying timely store-level data in the merchandising process to accurately respond to demand variations is a central component of JCPenney's approach.

“They believe merchandising should not be viewed as a discrete set of processes, but as an integrated set of decisions informed by a common, accurate, customer-centric view of demand,” said Jeff Allison, Executive Vice President and Director of Planning and Allocation at JCPenney. "ProfitLogic analytics and optimization capabilities contribute to our end-to-end, optimized merchandising strategy.”

“In addition to having the right tools, the success of the implementation required consistent focus and support at all levels, including senior management, to drive these multiple process changes throughout the company,” said Geoff Ayoub, Vice President and Director of Business Process Development at JCPenney.

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