DALLAS, Oct. 09, 2018 (GLOBE NEWSWIRE) -- Symphony RetailAI, the leading global provider of Artificial Intelligence-enabled decision platforms, solutions and customer-centric insights that drive validated growth for retailers and CPG manufacturers, announced today that Ed Wong, Senior Vice President, Chief Information Officer of Smart & Final, was selected as a RIS News Tech Leader for Strategic Impact as part of the 2018 CIO of the Year Awards. Wong was recognized for his leadership of a recent supply chain project using Symphony RetailAI solutions.
To achieve his vision of a data-driven supply chain for Smart & Final, Wong created a new foundational data integration layer based on retail master data which allowed the retailer to more efficiently run all of its downstream ERP applications on one standard data set. Instead of duplicating data for vendor-managed replenishment or warehouse buying, under this new model, a single set of data is now shared with applications based on business needs.
“I’m honored to be recognized as a RIS News Tech Leader among so many worthy applicants,” said Wong. “Working with Symphony RetailAI has enabled Smart & Final to react to the constant changes in today’s very competitive FMCG market and increase our customer satisfaction.”
By running a singular data set, Smart & Final has reduced errors, order-to-shelf time and spoilage, while increasing on-shelf availability and enabling store-level inventory data for omnichannel servicing of customer needs.
“Prior to implementing our technology, when Smart & Final introduced a new product, it would take several days until it could be ordered from the warehouse,” said Todd Michaud, President and Chief Customer Officer of the Americas, Symphony RetailAI. “With the new system, they have cut that time to shelf by 75 percent, so new items are made available to customers much faster.”
With centralized data, Smart & Final can now manage its inventory in near real time. The improved monitoring capability allows Smart & Final to receive immediate feedback such as forecast accuracy. The company has vastly improved reaction time and, as a result, can respond much more rapidly, directly impacting cost in inventory, increased margin and improved customer satisfaction. Previously, Smart & Final had numerous applications running simultaneously but now manages fewer than five integrated platforms. With the new solution set, the company has achieved operational savings and the total cost of ownership is much lower. Thanks to Wong’s innovative vision and leadership, the successful implementation of the Symphony RetailAI supply chain solutions is delivering real value to Smart & Final.
For the full list of award recipients, click here.
About Smart & Final
Smart & Final Stores, Inc. (NYSE: SFS), is a value-oriented food and everyday staples retailer, headquartered in Commerce (near Los Angeles), California. The Company offers quality products in a variety of sizes, saving household, nonprofit and business customers time and money. As of June 17, 2018, the Company operated 322 grocery and foodservice stores under the "Smart & Final," "Smart & Final Extra!" and "Smart Foodservice Warehouse Stores" banners in California, Oregon, Washington, Arizona, Nevada, Idaho, Montana and Utah, with an additional 15 stores in Northwestern Mexico operated through a joint venture. In business for over 146 years, the Company remains committed to giving back to local communities through employee volunteer opportunities and Company donations to local nonprofits.
About RIS News
For over 25 years RIS News has provided the retail community with news, trends and breakthroughs, as well as exclusive research, analysis and bylined stories by the industry's most respected experts.
About Symphony RetailAI
Symphony RetailAI is the leading global provider of Artificial Intelligence-enabled decision platforms, solutions and customer-centric insights that drive validated growth for retailers and CPG manufacturers, from customer intelligence to personalized marketing, and merchandising and category management, to supply chain and retail operations. Symphony RetailAI is innovating rapidly to drive faster, more profitable decisions through AI, machine learning and voice technologies. We are trusted by over 1,200 organizations including 15 of the world’s 25 largest grocery retailers, thousands of retail brands, and hundreds of national and regional chains worldwide to help solve their toughest business problems, through AI-powered customer intelligence and retail solutions. Symphony RetailAI was formed in 2018, merging Symphony GOLD and Symphony EYC. Symphony RetailAI is a SymphonyAI company. More at www.symphonyretailai.com. Follow us on Twitter: @symphonyretail.
About SymphonyAI
SymphonyAI is a group of companies that provide the leading AI-centric solutions for transforming the business enterprise by driving revenue growth and operational excellence, for the retail, CPG, healthcare and industrial verticals, and for finance, IT and other key enterprise horizontal functions. Founded by Dr. Romesh Wadhwani, SymphonyAI is one of the fastest growing companies in the business-to-business AI solutions sector with revenue this year of $275 million and 1,500 employees. More at www.symphonyai.com.
Media Contact
Adrienne Newcomb
Ketner Group Communications (for Symphony RetailAI)
adrienne@ketnergroup.com
512-794-8876