Itasca Retail Makes the Inc. 5000 List for 3rd Time
As one of America's Fastest-Growing Companies, Itasca Retail continues growth over the past year through the pandemic
WEST DES MOINES, Iowa, Aug. 18, 2021 /PRNewswire-PRWeb/ -- Itasca Retail is proud to be recognized for its growth over the past year, qualifying it for being a third-time honoree by Inc. 5000. In the list revealed yesterday, the company grew 158% to be included within this year's prestigious collection of innovative organizations. The company credits its success to its strategic commitment in supporting its customers through the pandemic.
"Itasca's return to the Inc. 5000 list is first and foremost the result of employee commitment to our valued customers," said Itasca President, Jeff Kennedy. "We are especially grateful to our broadening family of grocery retailers, who are essential to our success. It has been gratifying to help grocery retailers see how historically manual processes can be automated, with increased speed and accuracy, to ensure they continue to provide exceptional shopping experiences."
The Emergence of Inventory Intelligence
Itasca is the leader in store-level replenishment for the grocery industry. Its "inventory intelligence" platform is used by more than 85,000 grocery store workers at more than 3,000 stores. Wegmans, Sobeys, Price Chopper/Market 32, Weis Markets, and other major grocers are using the platform to better manage labor shortages, inflation, supply-chain shorts, and changing consumer habits.
The software uses historical sales data and current shelf and selling conditions to calculate the exact right order amounts for tens of thousands of items at any time of the day. This ensures each store always has the right stock levels to fulfill shopper demand. The system combines sophisticated algorithms and machine learning along with deep understanding of the North American grocery replenishment process to generate impressive gains in sales and productivity, while concurrently reducing inventory, shrink, product-handling and vendor credits.
Since the inception of the technology and most recently during the pandemic, Itasca's customers have utilized inventory intelligence as a strategic lever to manage change and profit margins. The platform enables a full suite of functionality -- including forecasting, sales, and perpetual inventory -- to enable grocers to better manage their top and bottom lines and to adjust to disruptions more resiliently.
"The 2021 Inc. 5000 list feels like one of the most important rosters of companies ever compiled," says Scott Omelianuk, editor-in-chief of Inc. "Building one of the fastest-growing companies in America in any year is a remarkable achievement. Building one in the crisis we've lived through is just plain amazing. This kind of accomplishment comes with hard work, smart pivots, great leadership, and the help of a whole lot of people."
The list represents a unique look at the most successful companies within the American economy's most dynamic segment—its independent small businesses. Microsoft, Dell, Domino's Pizza, Pandora, Timberland, LinkedIn, Yelp, Zillow, and many other well-known names gained their first national exposure as honorees on the Inc. 5000 list.
Media Contact
Jason Wirl, Itasca Retail, +1 208.863.2603, [email protected]
James Tenser, VSN Strategies, [email protected]
SOURCE Itasca Retail
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