Whole Foods Market, Inc. (NASDAQ:WFM) partners with Infor to create a cloud-based platform for retail industry
Whole Foods Market, Inc. (NASDAQ:WFM) and Infor are getting together to try to breath technology into merchandising and supply chain systems in the retail industry. The two companies are working on a cloud-based platform that will initially benefit Whole Foods and later other retailers on issues of improved traceability, accountability and responsibility in the supply chain. As for Whole Foods, the platform being worked on will help it unify its largely fragmented retail structure that resulted from multiple acquisitions.
Whole Foods Market, Inc. (NASDAQ:WFM) has figured out that it can beat competition by turning to technology to improve its back-end. The company is facing competitive pressure from such names as Costco Wholesale Corporation (NASDAQ:COST), Sprouts Farmers Market Inc (NASDAQ:SFL) and Trader Joe in the organic foods category.
Bringing out the difference in Whole Foods
According to Whole Foods’ co-CEO, Walter Robb, the collaboration with Infor is more about highlighting the uniqueness of Whole Foods. It has come to the attention of Whole Foods officials that customers these days think that experience is the same regardless of where they buy organic food. However, there is a difference according to Robb, and that is why the company has partnered with Infor to help bring to the fore its unique features.
For example, the technology that is being developed will enable Whole Foods Market, Inc. (NASDAQ:WFM) customers to get such details as when the vegetable they are buying were harvested. Moreover, the system will make it easy and fast for WFM to communicate insights to its suppliers as part of strengthening supply chain accountability.
WFM as the guinea pig
Infor will be using Whole Foods Market, Inc. (NASDAQ:WFM) as the lab to develop the platform aimed at increasing supply chain visibility in the retail space. As such, the technology will be made available to other retails once it is ready.
Whole Foods has mostly embraced store front technology, tapping into solutions such as Apple Inc. (NASDAQ:AAPL)’s Apple Pay and Instacart. However, the company is looking to technologically reform its backend, which remains fragmented thanks to the multiple acquisitions it has made over the years.
Latest posts by Neha Gupta (see all)
- Is Facebook Inc (NASDAQ:FB) Winning Or Losing In Virtual Reality Space? - May 27, 2016 07:35 AM PDT
- No Growth In Costco Wholesale Corporation (NASDAQ:COST)’s 3Q Comps Explained - May 27, 2016 07:34 AM PDT
- How Will International Business Machines Corp. (NYSE:IBM)’s Big Data University Help? - May 27, 2016 07:33 AM PDT