Retailers and consumer brands gain supply chain resilience and product returns reduction through the Pivotree and Newmine joint offering
TORONTO, January 11, 2023 – Pivotree Inc. (TSXV:PVT) (“Pivotree” or the “Company”), a leading provider of frictionless commerce solutions, announced its partnership with Newmine, a retail technology pioneer and developers of Chief Returns Officer®, to enhance supply chain agility and resiliency with new merchandise returns reduction joint offering.
Complementing Pivotree’s current supply chain portfolio, which includes Warehouse Management System (WMS) and Order Management System (OMS), with Newmine’s Chief Returns Officer® provides retailers with the reasons for product returns, and a collaborative workflow in time to take corrective action. As a result, retailers can prevent future returns and reduce the burden on their supply chain.
“We know that high return rates have become one of the retail industry’s most expensive problems which is why the Chief Returns Officer® is the best proactive solution to solving this returns crisis,” said Jim Brochu, General Manager of Supply Chain, Pivotree. “Our work with Newmine allows us to address root causes driving returns to transform and reduce returns friction through the implementation of Digital AI Chief Returns Officer.”
“Pivotree’s ability to take a holistic approach and solve complex commerce problems made them the ideal partner. With their retail, supply chain, and AI experience they bring disparate solutions together that deliver measurable benefits,” said Navjit Bhasin, CEO, Newmine. “We are excited to work closely with them and improve the performance of our customers.”
Newmine’s Chief Returns Officer® Software as a Service (SaaS) integrates millions of enterprise-wide data points leveraging AI to analyze product, transactional, and customer feedback to detect returns anomalies and diagnose their root causes. Powering returns reduction for some of the industry’s most iconic retail brands including Gap, Old Navy, Athleta to name a few, customers have achieved an 18% reduction in returns when compared to the rest of the industry which saw more than an estimated 50% increase.
As a global leader in frictionless commerce, Pivotree has the tools and expertise to deliver exceptional warehouse solutions. Pivotree™ WMS is a feature rich WMS platform with robust technical architecture. It eliminates friction in warehouse operations by reducing costs and improving order fulfillments through inventory accuracy and increased operations performance visibility. The platform supports multiple brands, and warehouses with complex and varied business processes on a single, shared SaaS infrastructure.
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Pivotree, a leader in frictionless commerce, designs, builds and manages digital platforms in Commerce, Data Management, and Supply Chain for over 250 major retail and branded manufacturers globally. Pivotree’s portfolio of digital solutions, managed and professional services help provide retailers with true end-to-end solutions to manage complex digital commerce platforms, along with ongoing support from strategic planning through platform selection, deployment, and hosting, to data and supply chain management. Headquartered in Toronto, Canada with offices and customers in the Americas, EMEA, and APAC, Pivotree is widely recognized as a high-growth company and industry leader. For more information, visit www.pivotree.com
Newmine provides retailers and consumer brands the opportunity to think differently about returns. While most solution providers focus on easing the returns process, we provide an alternative – decipher the reasons for those returns in time to take corrective action to keep them from happening. With AI, natural language processing, and prescriptive analytics, retailers reduce product returns and create a sustainable, better business for their customers, environment, and bottom line. Visit www.newmine.com for more information.
For further information, please contact:
Sarah Kirk-Douglas, Vice President of Marketing, Pivotree
Dennis Fong, Investor Relations, Pivotree
Mark Schwans, Vice President of Marketing, Newmine
Ron Margulis, Media Relations, New-mine