7thonline Named a Top 20 Most Promising Retail Solution Provider by CIO Review
Company Recognized for Innovation, User-Empowered BI, and Smart Inventory Optimization in the Fashion Industry
New York, NY - October 28, 2014 - 7thonline, Inc., a leading provider of cross-channel demand planning solutions to the wholesale and retail industries, today announced that CIO Review has named 7thonline to its list of Top 20 Most Promising Retail Solution Providers. 7thonline was chosen based on its innovative demand planning and forecasting platform specialized for the apparel, footwear, and accessories industry, and for its user-focused business intelligence (BI) reporting capabilities.
CIO Review has published its annual listing of leading vendors delivering services and technologies to the retail sector based on an extensive review of solution innovation and value. Over a period of five months, a distinguished panel of CEOs, CIOs, and CIO Review editorial board members evaluated hundreds of providers to decide on the final list. The selection focused on vendors' capability to fulfill fast-changing retail business needs through innovation and advanced technologies. “7thonline has been on our radar for some time now for stirring a revolution in the Retail technology space, and we are happy to showcase them this year due to their continuing excellence in delivering top-notch technology-driven solutions,” said Pradeep Shankar, Editor-In-Chief of CIO Review.
As retailers move to satisfy today's mobile-savvy, trend-sensitive consumers, they face a mounting challenge to optimize inventory and meet local demand across distribution channels. If not managed well, inventory positions pose significant financial risks in the apparel, footwear, and accessories industry due to short lifecycle merchandise and fast inventory turns. Migrating from Excel-based and home-grown planning tools, 7thonline customers gain greater visibility into merchandise performance history as well as in-season trends across all channels. Complete demand visibility, in turn, supports data-driven buying and markdown decisions, and it enables 7thonline users to identify selling opportunities and inventory risks earlier. 7thonline's embedded reporting and intelligent forecasting capability enables retailers to plan, track, and react to demand signals-driving full-price sell-thru and reducing lost sales. For brands that operate their own brick-and-mortar stores, multiple eCommerce websites, and wholesale business, 7thonline provides a unique cross-channel demand planning platform that delivers complete demand visibility for optimized inventory positions.
“We are pleased to be recognized as one of CIO Review's Top 20 Most Promising Retail Solution Providers,” said Max Ma, CEO of 7thonline. “This recognition underscores the importance of industry-focused technology solutions that empower the business users. We are dedicated to our customers' ongoing success by supporting their key planning functions with state-of-the-art technology solutions that also speak the language of the industry.”
7thonline is a leading provider of cross-channel merchandise and assortment management solutions to the Apparel, Footwear, and Accessories industries. Deployed in the cloud or as enterprise software, 7thonline solutions enable more effective planning, demand forecasting, and inventory optimization for fast-growing, omni-channel, leading brands. With embedded business intelligence and rich analytics, the company's solutions offer complete demand visibility and planning capabilities for wholesale, retail, and e-commerce—enabling increased sales, reduced markdowns, improved margins, and enhanced profitability. Customers include Bestseller, Calvin Klein, Colony Brands, EILEEN FISHER, G-III Apparel Group, Michael Kors, Nautica, Oakley, Patagonia, PVH and VF, among others. 7thonline is headquartered in New York, NY and has global offices in mainland China. To learn more, visit www.7thonline.com, and follow us on Twitter at http://twitter.com/7thonlineInc.