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JustEnough's science-based replenishment makes lost sales rare for Australian retailer
Strandbags
DURHAM, NC- March 3, 2009- Today JustEnough released
a case study showing how Australian specialty retailer Strandbags is seeing lasting
success like reduced markdowns, optimized sales potential and a financial boost
since implementing JustEnough over a year ago.
Strandbags is one of Australia's largest and most successful specialty retailers,
operating over 350 stores throughout Australia, New Zealand, the Middle East and
South Africa. With thousands of products and styles to satisfy choosy customers,
Strandbags' planners lacked store-by-store buying pattern data and other tools to
ensure prompt stock replenishment. Using a blanket ordering approach, the company
was re-stocking individual stores but quantities were based mostly on the planning
team's speculation about future store performance. This meant that valuable sales
opportunities were wasted if the demand exceeded projections.
"There was very little science being applied to store stocking and we could not
replenish them quickly," recalls Nathan Toussaint, Business Analyst at Strandbags.
"We could not do so because we lacked in-depth analytics. But even if we had analytics,
we still needed to decipher the meaning behind the numbers. We couldn't."
Strandbags selected JustEnough to do just that. Using JustEnough's Demand Forecasting
and Inventory Planning solutions, each item's stocked stores are now analyzed and
ranked so that limited items are sent to the stores most likely to sell them. Faster-selling
SKUs are proactively restocked and slower moving items are reactively replenished.
Even a year later, on-site retail managers are confident, knowing that when they
see a particular item is selling briskly at their store it will be replenished quickly.
By sharing JustEnough's AgainstWaste philosophy, Strandbags continues to have less
inventory that goes to waste. Plus, there are less wasted opportunities because
StrandBags now delivers highly sought-after products right down to the store SKU
level and far more quickly than before.
This effort helped Strandbags reduce its markdowns, resulting in a financial boost
for the company, Toussaint says.
"Stores are amazed that their deliveries include more of the products they see selling
well," Toussaint explains. "It's the only software that can tell us exactly what
and how much stock was in the stores, thus ensuring our display quantities and safety
stock are at correct levels."
To download a complete case study on Strandbags' success or to learn more about
JustEnough, visit www.justenough.com/customersuccess.
About JustEnough
Founded in 1994, JustEnough is a global leader in Demand Forecasting and Demand
Planning solutions.
Available OnDemand, OnSite and OnMobile, JustEnough's Demand Management solutions
help retailers, manufacturers and wholesale distributors of every size, across a
breadth of industries, to forecast their customer demand, plan their inventory,
sales and operations and then execute on those plans.
JustEnough services more than 500 of the world's leading brands including Replenishment
of Levi Strauss's North American stores, Inventory Planning at Philips Lighting,
Demand Planning at Seventh Generation, Merchandise Planning at Strandbags,
Master Production Scheduling at John West Salmon, Mobile Sales Force Automation
at Heineken and Mobile Sales & Trade Marketing at Cadbury. Each year
JustEnough calculates over 1.5 billion forecasts and recommends over 826 million
orders to more than 8 million suppliers.
JustEnough is headquartered in the United States with offices worldwide.
For more information Contact us, email info@justenough.com or call +1 (919) 956-7372.
About Strandbags
The Strandbags Group is one of Australia's largest and most successful specialty
retailers. Privately owned, the group operates over 350 stores throughout Australia,
New Zealand, the Middle East, and most recently South Africa.
Strandbags stores retail Handbags, Small Leathergoods, Travelgoods, Business Cases
and Backpacks and carry both internationally renowned brands as well as long established
and exclusive private label ranges.
The group also owns the 'Equip' chain of stores retailing Fashion Jewelry and other
Fashion Accessories. There are currently 80 of these stores. Further information
is available at
www.equipyourself.com.au.
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