Global beauty company adopts the RapidResponse platform with newly acquired Rubikloud AI-based demand planning capabilities
OTTAWA, ON, Oct. 27, 2020 /CNW/ - Kinaxis® Inc. (TSX: KXS), the authority in driving agility for fast, confident decision-making in an unpredictable world, today announced that it will support Coty Inc. with its business transformation strategy by providing tools to streamline and shorten decision-making cycles, further enable collaboration, more accurately predict demand and provide insights on the financial impact of trade-offs. Coty, one of the world's leading beauty companies, will utilize the Kinaxis RapidResponse® platform, with its unique concurrent planning technique, to manage its sales and operations planning (S&OP) and demand planning, enhanced by the AI-based capabilities of the recent Rubikloud acquisition.
"Nimble decision-making can be the difference between a business that survives and a business that thrives—especially during times of uncertainty or disruption," said John Sicard, CEO of Kinaxis. "We are pleased to have earned the trust of Coty to help them gain agility in their supply chain. We are even more excited for them to benefit from the combined power of the Kinaxis platform and the AI-based capabilities of Rubikloud."
Consumer products companies face pressure to better understand and anticipate consumer demand. Simultaneously, they need to be efficient in the face of changing global regulations, cost fluctuations, rising distribution complexity, and pressure to be sustainable and profitable. To stay ahead of these changing market conditions, consumer products companies rely on Kinaxis to provide digital supply chain planning and operations solutions.
"Kinaxis RapidResponse will provide us with a scalable solution for decision-making and collaboration," said Eliza Simeonova, VP Supply Chain Strategy at Coty. "Kinaxis and Rubikloud's impressive track records serving the retail and CPG supply chains gives us great confidence in their ability to understand our needs and the needs of our customers. We are excited that these companies are now united under the Kinaxis brand and look forward to exploring the full potential of the enhanced solution."
About Kinaxis Inc.
Everyday volatility and uncertainty demand quick action. Kinaxis® delivers the agility to make fast, confident decisions across integrated business planning and the digital supply chain. People can plan better, live better and change the world. Trusted by innovative brands, we combine human intelligence with AI and concurrent planning to help companies plan for any future, monitor risks and opportunities and respond at the pace of change. Powered by an extensible, cloud-based platform, Kinaxis delivers industry-proven applications so everyone can know sooner, act faster and remove waste. For more Kinaxis news, visit Kinaxis.com or follow us on LinkedIn or Twitter.
Coty is one of the world's largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, hair color and styling, and skin and body care. Coty is the global leader in fragrance, a strong number two in professional hair color & styling, and number three in color cosmetics. Coty's products are sold in over 150 countries around the world. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment.
For additional information about Coty Inc., please visit www.coty.com.
Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include statements as to Kinaxis' growth opportunities and the potential benefits of, and demand for, Kinaxis' products and services. These statements are subject to certain assumptions, risks and uncertainties, including our view of the relative position of Kinaxis' products and services compared to competitive offerings in the industry. Readers are cautioned not to place undue reliance on such statements. Kinaxis' actual results, performance, achievements and developments may differ materially from the results, performance, achievements or developments expressed or implied by such statements. Risk factors that may cause the actual results, performance, achievements or developments of Kinaxis to differ materially from the results, performance, achievements or developments expressed or implied by such statements can be found in the public documents filed by Kinaxis with Canadian securities regulatory authorities. Kinaxis assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.
SOURCE Kinaxis Inc.