Chico`s Selects Found`s ICaM™ System to Integrate Chain-Wide Inventory and Multiple Sales Channels
5/20/2002
Innovative specialty retailer will implement ICaM Inventory Locator and ICaM Order Manager to prevent lost sales due to stockouts.
SALT LAKE CITY, UT - Found, Inc., a software and services provider that helps retailers drive sales, protect product margins, and build customer loyalty by unifying inventory and sales channels, today announced that Chico`s FAS, Inc. (NYSE: CHS), a leading specialty retailer of private-label women`s casual clothing, is the latest retailer to integrate its inventory and sales channels using Found`s ICaM™ (Integrated Clicks-and-Mortar) application.
By implementing ICaM Inventory Locator and ICaM Order Manager from Found, Chico`s will be able to reduce lost sales associated with out-of-stocks in its 324 stores across the U.S. With real-time visibility to inventory across the chain, any store associate will be able to find particular styles, colors, and sizes of merchandise whenever and wherever the customer wants to buy. And with real-time order management capabilities, Chico`s will be able to capture those sales orders before the customers leave empty-handed, and then manage the orders between store or sales channel locations.
Chico`s has earned its reputation as a leading specialty retailer in part due to efficient inventory management, turning its inventory 4.7 times per year. Chico`s clearly understands that faster moving inventory without frequent replenishment increases the risk of stockouts - and for any retailer, stock levels are difficult to maintain without increasing inventory beyond acceptable investment levels.
To prevent lost sales due to inevitable stockouts, Chico`s initiated a project in 2001 to build their own technology solution. After analyzing their internal development efforts and the feature set of ICaM, Chico`s concluded that installing ICaM, rather than continuing their internal project, would provide the shortest time-to-market and a higher return on investment.
"Found offers a feature-rich application that includes the flexibility we need to configure it for our business," said Ajit Patel, chief information officer at Chico`s. "But meeting our functional needs is only part of the equation. By leveraging Found`s experience, we will free up our internal IT resources and still launch this capability in our stores sooner and at a lower total cost."
Chico`s will be installing ICaM version 2.0, released by Found earlier this year. ICaM 2.0 includes an upgraded architecture and numerous enhancements to provide retailers more flexibility in how they deploy ICaM, and to dramatically reduce the time required for system configuration.
"Chico`s recognized the importance of shortening time-to-market and reducing total cost of ownership for this application," said Glen Mella, president and CEO of Found. "We are thrilled that a thought-leader like Chico`s has chosen market-proven ICaM to help them minimize lost sales due to stockouts and delight their customers."
About Chico`s FAS, Inc.
Chico`s sells exclusively designed, private-label women`s casual clothing and related accessories. The Company operates a chain of 324 stores in 40 states and the District of Columbia. The Company owns 313 stores, franchisees own 11.
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