Leading Online Retailer Wayfair Invests in Supply Chain Planning Software from ToolsGroup
BOSTON, Sept. 6, 2012 /PRNewswire/ — Fast growing home furnishings online retailer Wayfair has chosen software vendor ToolsGroup to help extend its supply chain planning (SCP) capabilities to support its quest to become one of the world’s largest online retailers.
Now surpassing $500 million in revenue, Wayfair is already the largest online retailer of home goods in the United States. It offers a massive selection of five million products across 5000 brands in categories such as furniture, lighting and cookware.
Like online retailer Amazon, Wayfair is building a competitive supply chain strategy to back its diverse product portfolio. ToolsGroup’s SCP software will help Wayfair address the challenges and complexity of this growing business. For instance, Wayfair’s 25 categories create millions of Stock Keeping Units (SKUs) with diverse demand behaviors. ToolsGroup’s frequency-based forecasting and supply chain planning will help drive the improvements in forecast accuracy and inventory efficiency needed for responsive replenishment.
“We had outgrown our existing infrastructure,” said James Saravese, Wayfair’s Senior Vice President, Operations. “ToolsGroup offered us the opportunity to introduce an entirely new level of automation and intelligence into the planning process.”
“A rapidly-growing business needs forecasting and planning processes to keep expanding inventory and cash requirements in check as the business grows,” commented Pat Smith, General Manager – North America, ToolsGroup. “We look forward to helping Wayfair achieve the superior execution needed to meet its growth objectives.”
Wayfair LLC is the parent company for wayfair.com, which offers a zillion things home – the largest catalog of home items anywhere, crossing all styles and budgets, and offering 5,000+ brands of furniture, lighting, cookware and more. With this massive selection of more than five million products, chances are good people can find just the right items for their homes. Other sites under the Wayfair umbrella include AllModern.com and JossAndMain.com.
Headquartered in Boston, Massachusetts, Wayfair employs more than 1000 people and was recently named one of the top 25 best technology companies to work for in 2012 by Business Insider. Wayfair operates distribution centers in Ogden, Utah and Hebron, Kentucky, and international offices in Galway, Ireland, London, Munich and Sydney.
ToolsGroup (www.toolsgroup.com) is a global provider of Powerfully Simple supply chain planning software. Our customers overcome volatile demand and challenging supply chains to generate accurate forecasts and outstanding customer-service levels with less global inventory. Reliable behind-the-screen technology and scalable statistical models enable highly intelligent data-driven decision making. ToolsGroup’s solutions span key supply chain planning areas such as Demand Forecasting, S&OP, Demand Sensing, Promotion Forecasting and Multi-Echelon Inventory Optimization.