NEWS AND EVENTS
Farmatodo changes to digital bolivar in 4 hours with no business impact
The leading Venezuelan self-service chain of pharmacies, Farmatodo, has successfully adjusted its Oracle Retail systems to the new Venezuelan currency. For this implementation, Farmatodo selected Oracle PartnerNetwork (OPN) Platinum level member, Retail Consult (RC).At October 1st, Venezuela launched the digital bolívar, wipping off six zeros and replacing the sovereign bolivar in order to simplify the monetary scale, afflicted by the hyperinflation in the country. This is an important adjustment for all retailers in the country with implication in the systems that run the operation.
With approximately 8000 products in 175 stores throughout Venezuela, Farmatodo needed to assure that their operation and their seamless retail shopping experience would not be disturbed by the transition. Retail Consult adjusted all the systems successfully with a downtime of only 4 hours, even operating fully remotely.
“Retail Consult has shown once again to be a strategic partner for Farmatodo. Their expertise and their business knowledge assured that the transition occurred with no surprises and no major impacts on the operation.”, said Antonio Zubillaga, Chief Information Officer, Farmatodo. “The transaction volume did not decrease and business just went on smoothly”, he concluded.
Retail Consult has been working with Farmatodo on an Oracle Retail transformation project since 2017, and after a successful deployment of Merchandise Operations Management, Promotions, Sales Audit, Inventory Management, Allocations, Warehouse Management, Store Inventory Management, Xstore, and Retail Insights, the company is providing Consultancy, Maintenance and Support services for this retailer.
“Since Farmatodo uses Oracle Retail, the change process was facilitated. The systems’ architecture is agile and allows these changes to be made quickly in order to meet the business needs.”, said Dinis Freitas, Head of delivery, Retail Consult.
About Retail Consult
Retail Consult is a group of professionals who specialize in technology solutions for retail, providing provides solution strategy, implementation, deployment, training, and support services to help clients successfully drive the transformation of their business. Retail Consult serves clients across a range of retail segments including fashion, grocery, pharmacy, do it yourself, telecommunications, and electronics. Their clients range in size from regional, privately held companies to global retailers deploying multiple brands, and want to successfully transform their business using the Oracle Retail suite of commerce applications: Planning and Optimization, Supply Chain Management, Logistics, Merchandising Management, Store Systems, Omnichannel, and Retail Intelligence.
“Stones on the way? I keep them all, one day I will build a castle."
Fernando PessoaThe outbreak of COVID-19 has created a time of both personal and economic uncertainty. On March 9, 2020, Retail Consult implemented a work-from-home, remote workforce model to protect our employees, clients and partners. Most of our clients and partners are also working from home. Working collaboratively we have been able to safely and productively continue our business activities and we will continuity and innovation to navigate this time of crisis together!