Pharmacity, the country's local leading retail pharmacy chain, announced it would invest US$4 million in RELEX Solutions, a leading provider of cutting-edge retail optimisation software on February 15.

Forming a strategic partnership with RELEX, Pharmacity said the investment was in RELEX’s forecasting and replenishment software, which will enable Pharmacity to anticipate product demand and optimise inventory to give customers the essential products they need across Pharmacity’s stores and online channels nationwide.

Chris Blank, founder and CEO of Pharmacity, said: “This investment will help us to provide the very best service to our customers by delivering the right products, whether online or offline, at the right time.”

The RELEX Living Retail Platform will harness artificial intelligence to automate and optimise product allocation across Pharmacity’s distribution centres and stores.

The platform will enable Pharmacity to predict supply and demand following assortment changes such as new product introductions, product ramp-ups and ramp-downs, and other factors that affect product demand and supply, such as peak seasons and promotion campaigns.

Mikko Kärkkäinen, CEO and co-founder of RELEX Solutions, said: “Our role is to support Pharmacity as a retailer of essential services for the Vietnamese people to ensure that the company can supply critical products and services to its customers.”

Founded in 2011, Pharmacity is the first modern retail pharmacy chain in the country, with over 800 stores nationwide, over 5,000 employees, three centralised distribution centres and a fully integrated logistic network.

Pharmacity offers a diverse range of products, with close to 8,000 items, including medicine, vitamins and supplements, and FMCG products.

It carries well-known third-party brands, as well as its own brands, all at a low price. — VNS