LifeKen Adopts Oracle® Retail Applications to Power its Growth Plans
Leading Indian Pharmaceutical Chain Centralizes and Integrates Retail Operations
REDWOOD SHORES, Calif., 24-JAN-2007 LifeKen, a leading retail pharmaceutical chain in India, has chosen Oracle(r) Retail applications to centralize and integrate its retail operations, Oracle announced today. The Oracle Retail solution, which will serve as the foundation for LifeKen’s aggressive growth strategy, is expected to go live in March 2007.
Adoption of Oracle Retail applications will provide LifeKen with an out-of-the-box solution that enables faster rollout to stores, greater control over business processes and a dynamic, real-time view of the business. The solution will provide LifeKen with flexibility and will scale to support the company’s growth strategy. LifeKen recently announced its plan to expand to 700 stores in the next three years.
“We were absolutely clear about what we wanted in terms of technology for our business and we found that Oracle Retail applications were best suited to deliver what our business needs,” said Mr. M.C. Kini, CEO, Promoter and Director of LifeKen. “We understand the competitive edge that technology can give us in a business where ’the ability to scale fast’ is the name of the game and best practices need to be incorporated. We expect that our adoption of proven Oracle Retail applications at this early stage in our business will help us meet the aggressive growth targets we have set for ourselves.”
Speaking on Oracle’s key retail implementation in India, Mr. Mukesh Mathur, Director & Business Head, Oracle Retail India said, “We appreciate LifeKen’s vision in adopting our retail applications to drive their rapidly growing business. They chose to make a significant investment in Oracle Retail at a very early stage in the life of their business. Our experience with LifeKen in India is the latest example of Oracle Retail’s momentum globally and proves that we are uniquely positioned to meet the needs of leading retail businesses in India.”
Oracle Retail applications help achieve a streamlined and consolidated operational and financial infrastructure so that LifeKen’s resources can be better utilized. The Oracle Retail modules that LifeKen is implementing include Oracle Retail Merchandising System, Oracle Retail Point-of-Service, Oracle Retail Store Inventory Management, Oracle Retail Sales Audit, Oracle Retail Invoice Matching, Oracle Retail Data Warehouse and Oracle Retail Business Intelligence.
“Oracle Retail can help successfully transform the economics of many leading Indian retail businesses just as it has helped numerous retail companies across the world,” said Mr. Jay Bhow, Head of the Oracle Retail Center of Excellence in Bangalore. “The Oracle Retail Center of Excellence is playing a pivotal role in supporting retail customers like LifeKen.”
LifeKen, a leading pharmacy retail chain in Bangalore and Chennai, was started by Mr. M.C.Kini, Mr. A.Suryanarayanan and Mr. Pranabh Mody, who saw an untapped opportunity in the field of ’Organized Pharmacy Retail’ in India. LifeKen’s vision is to become “the largest and fastest growing chain of modern, highly efficient and customer friendly pharmacies in India in 5 years time with the best expertise and people in the industry,” as well as the “first choice for all consumers for their healthcare needs.”
About Oracle Retail
Oracle is the number one provider of innovative and comprehensive industry software solutions for retailers - enabling organizations to serve their customers better by applying insight into daily business decisions for more profitable results. With software that provides supply chain, operations, merchandising, store systems, optimization and information technology solutions, Oracle partners with the world’s leading retail companies, including 17 of the top 20 retailers worldwide, to transform the economics of their businesses.
Oracle (NASDAQ GS: ORCL) is the world’s largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com
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