As of 11 January, 2018 Symphony GOLD became the Retail Solutions Division of Symphony RetailAI.
The integration of Fifth Dimension software and experience into the Symphony GOLD Unified Retail Platform will enable retailers and CPG manufacturers to improve their overall category management process while simultaneously driving synergies through connecting with supply chain operations to achieve their business objectives. Let’s take a look at the top three opportunities that Fifth Dimension brings to GOLD customers:
1. Greater Value: The whole is greater than the sum of the parts
Fifth Dimension macro-space planning and, in particular, macro space optimization complement GOLD’s approach to Merchandising and Category Management. Customers already depend on GOLD Category Management and Space Optimization solutions to build category clusters that inform the assortment optimization process and generate resulting customer and store relevant planograms to maximize space allocations and efficiently execute category and assortment initiatives.
With the new Fifth Dimension 3D visualization and virtual reality capabilities customers can move beyond the shelf and store level to evaluate the impact of their assortments on their overall business. Consequently, retailers and CPG manufacturers now have the unique ability to model the impact of their decisions on the assortment, the resizing of category space, projected inventory within the supply chain and overall in-store shopping experience.
2. Faster Time to Market
Intelligent virtual store design is one of the fastest growing technology applications in the retail industry. Changes in shopping habits are creating a strong demand for differentiation in the way stores are configured, across multiple locations and formats.
Retailers today must provide customers with a compelling in-store experience that retains their loyalty and drives financial performance. Fifth Dimension offers innovative solutions that push beyond the boundaries of traditional category and space management offerings by enabling retailers and CPG’s to quickly simulate and evaluate assortment and space alternatives based on shopping behavior and market trends.
Symphony GOLD already delivers significant value through total store planning and analysis. Fifth Dimension’s technology extends this capability with modern 3D visualizations and Virtual Reality, providing a customer-centric perspective of the store, and allowing planners to optimize store changes to provide the best possible shopper experience.
Symphony GOLD customers will now be able to remove the traditional physical, resource and cost constraints associated with store modeling and decrease the time it takes to go from concept to in-store execution. As a result, they can quickly respond to market pressures and accelerate their concept to in-store execution time.
3. Unified Insights to Execution Demand and Supply Processes
Linking category management to merchandising, supply chain and retail operations, GOLD gives retailers and manufacturers the unique ability to model the impact of their decisions on assortment, resizing of category space, the overall in-store shopping experience – as well as cost to serve.
For example, a grocery chain weighing the feasibility of expanding their ‘baby & childcare’ category could virtually model the new department rollout across all its stores; then also map in the necessary product sourcing, transportation and inventory management. Using GOLD to tie together category and space planning, retail/demand planning plus supply chain execution will help determine whether or not expanding the category would in fact meet business objectives.
Ultimately, the Fifth Dimension acquisition gives retailers and CPGs more opportunities and greater flexibility to respond to customer demands. That’s no small task in today’s multiple channel retail environment.
Find out more about the synergies between Symphony GOLD and Fifth Dimension.