LBM (Lumber and Building Material) and hardware industry leader seeks cutting-edge solutions for inventory management to better serve their customers and improve operational efficiency.
BERWYN, PA., June. 20, 2024 – Koopman Lumber Company, a thirteen-location, MA-based, family-owned and operated lumber, hardware, paint, and design center, has partnered with 4R to help increase its LBM & hardware presence across its network and improve its overall revenue stream. Koopman operates ten lumber and building materials stores, two distribution centers, and a stand-alone paint center.
4R will implement its Intelligent Inventory Optimization solutions and services to enable each Koopman location to introduce or expand its LBM, Hardware, and Paint & Sundries footprint. Additionally, 4R will help ensure Koopman makes the best use of inventory in all product categories to optimize its stores’ profitability.
“We are excited to partner with 4R. If the services they offer yield even half the results they forecast, we will quickly see improvements,” says (Dirk) Koopman, CEO of Koopman Lumber. He added, “This represents an opportunity for us to leverage cutting-edge technologies; we sought the expertise of 4R to help us anticipate product needs and inventory allocations across our growing network and to help us avoid excess while keeping our lumber yards and store shelves stocked and ready to support our customers.”
4R will provide Koopman with its One Predictive Engine (OPE), which leverages machine learning and AI and integrates with core operating systems to become a single source for demand forecasting and assortment planning. These forecasts drive inventory planning processes to create supply chain efficiencies and improve product availability.
In addition, the 4R Planning-as-a-Service (PaaS) offering will provide Koopman with expert planners and analysts working directly with Koopman staff to provide supply chain and inventory analytics to support better merchandising and purchasing decision-making. The team will also ensure Koopman best utilizes OPE to drive key processes, like product assortment planning, store allocation planning, and replenishment planning.
Commenting on the new relationship, Mark Garland, CEO of 4R states, “We’re excited to partner with Koopman Lumber to leverage our knowledge of the hardware segment and to help them expand their hardware presence and customer experience”. He adds, “Working together, and leveraging our PaaS offering and talents, we know that we can provide the supply chain and inventory analytics that will help Koopman to deliver on its mission of being the go-to resource for the materials and tools their customers need…when they need them.”
| ABOUT 4R The 4R suite of solutions and services helps businesses manage their supply chain and treat inventory as an investment. Founded by supply chain experts and academics from The Wharton School and Harvard Business School, we developed our One Predictive Engine (OPE) that leverages machine-learning and AI, and integrates with core operating systems, to become a single source for demand forecasting and assortment planning. Our initiatives focus on the high-value processes needed to optimize every step of supply chain and inventory management, with special attention given to Demand Planning, Replenishment, Assortment, Allocation, and Markdown. ABOUT KOOPMAN LUMBER & HARDWARE Family-owned and -operated since 1939, Koopman Lumber & Hardware has 13 Massachusetts locations including three full-line lumber, hardware, paint, lawn and garden stores in Whitinsville, Uxbridge and North Grafton; one lumber, hardware, paint and design center in Sharon; a full-service paint store in Milford; lumber yards and kitchen design centers in Hudson, Andover, Fairhaven, Dennis, Pembroke and Indian Orchard; and distribution centers in Uxbridge and Sutton. They specialize in building materials and supplies including lumber and hardware, moulding and millwork, tools, power equipment, windows and doors, engineered lumber, kitchen and more. An extensive network of outside sales professionals serves most of New England delivering expertise in lumber, millwork, kitchens and paint. To learn more, visit koopmanlumber.com |