Bed Bath & Beyond Inc. announced another step in its $250 million technology transformation with the selection of Relex Solutions as its inventory management technology partner. Relex Solutions will provide technology solutions to modernize and drive efficiencies in the company’s inventory management systems that support its store network and distribution centers.
The cloud-based technology platform will deliver automated forecasting, replenishment and allocation planning to improve the company’s in-stock position and inventory turnover, enhancing the customer experience while driving sales and gross margin improvements, the company said.
“We are leading with a digital-first, omni-always approach to build authority in our core markets and make it easy to feel at home,” Scott Lindblom, chief technology officer of Bed Bath & Beyond, said. “Investing in modern inventory management technologies is a critically important component of this approach. We are delighted to partner with Relex Solutions to help drive efficiencies in our business, improve our ability to respond to customer demand with agility and enhance the experience for our customers, however they choose to shop with us.”
“We are thrilled to partner with Bed Bath & Beyond and to support their omnichannel growth with our market-leading, machine-learning enabled forecasting and replenishment solution,” said Carlos Victoria, senior vice president of sales, Americas for Relex Solutions. “Relex will enable Bed Bath & Beyond to reduce inventory across their channels and automate their supply chain processes while also improving their already impressive customer service levels.”