34 CASESTUDY
L.K.BENNETT ADVANCES
The key benefi ts realised were advanced replenishment algorithms and faster receipting methods, which meant that stock throughput improved dramatically. The
replenishment allows the running of ‘what if ’ scenarios that assist the decision-making process…
I
nvesting in the right solution for an evolving and growing retail business can be the backbone and silent partner to the business’ success. Get this right, like
L.K.Bennett, and a retailer can
have a solid foundation which, with the right execution, can ensure a safer route to the growth required to drive the business forward.
L.K.Bennett is a luxury women’s fashion brand selling
luxury clothes, shoes, bags and accessories, based in London. The company has over 130 stores across four countries, as well as over 50 wholesale customers. In order to sustain this success and support anticipated growth plans,
L.K.Bennett went through a rigorous selection process where they reviewed 10 leading vendors via a strict invitation to tender process followed by demonstration and onsite reference visits. Key criteria included functionality, support and
culture. The retailer needed a comprehensive retail solution which provided pre, during and in-season stock management, supplier management and sourcing at the core of the system to manage merchandise data, product set-up, associated attributes, pricing analysis and stock ledger analysis. Replenishment was a key requirement to manage initial and ongoing replenishments, ensuring that the right stock is in the right place at the right time. The replenishment process needed to consider existing sales, markdowns and promotions as well as future planned sales. Reporting with exception analysis and management
via key performance indicators along with the ability to plan for pre-season and in-season analysis
REPLENISHMENT Luxury UK women’s brand supports international growth gets the right stock, to the right place, at right time with integrated Island Pacifi c merchandising and planning suite
was absolutely crucial as well. Finally, there was the requirement for ease and proven integration to third-party applications.
L.K.Bennett used the Island Pacifi c system for automatic invoice matching and then interfaced into a third-party fi nance system and seamlessly interfaced the Island Pacifi c Merchandising to a third party warehouse.
The retailer’s approach was to implement the Island
Pacifi c solution in a ‘vanilla’ format, using the system preferences to confi gure the system to its needs. David van Eck,
L.K.Bennett head of IT, explained: “Ultimately, implementing the Island Pacifi c vanilla solution meant we were adopting best practice and making future upgrades painless. “Timelines were tight with kick off starting in
February and a go-live end of August. The key benefi ts realised were advanced replenishment algorithms and faster receipting methods, which meant that stock throughput improved dramatically. The replenishment allows the running of ‘what if’ scenarios that assist the decision-making process. “Plus there is comprehensive auditing and control of all stock activity. We now have an automatically updated WSSI [weekly sales and stock intake], which seamlessly integrates with merchandising, has reduced manual input considerably. Overall the accuracy and consistency of the system means that we have the fi rm foundation to achieve the growth we need and to manage the business processes.” Mike Dotson, managing director in Europe of Island
Pacifi c, commented: “More and more retailers are coming to Island Pacifi c looking for a broad and deep retail solution that they know is going to meet their business needs. “Many of these retail professionals have implemented other solutions and know precisely the key requirements that they need to drive their business forward. A shopping list of needs means that they can make informed decisions. We have found that key drivers for new systems investment are often to support anticipated growth plans both in the UK and internationally. “However one of the key ‘soft’ factors in selecting the solution is the partnership and support with the solutions provider. Having a partner that is reliable and able to grow with the business is an essential part of having the right software.”
RETAIL TECHNOLOGY JANUARY/FEBRUARY 2012
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40