Imagine if you could spot marketplace trends and understand customer preferences as they were happening?
Bernard Chaus Inc. significantly boosts sales, reduces costs and gains business agility with real-time visibility into sales.
What was the situation?
Despite being a seasoned leader in the fashion industry, Bernard Chaus had little knowledge of which, where and how much of its products had sold until four to five weeks into a season. By then, it was almost too late to take corrective action. Without more timely and accurate insight into sales, management struggled to react quickly and make informed decisions. As a result, the company was often forced to absorb mark-downs, forfeit prime real estate on selling floors and lose sales.
What makes it smarter?
In the fast-paced fashion industry, companies that know exactly which of their products have sold gain insight into marketplace trends and customer preferences—a true competitive advantage. Bernard Chaus not only gained real-time visibility into its sales but also saved 20 percent to 30 percent in costs related to returns, lost sales and mark-down expenses with its new business intelligence (BI) solution. Now the company has a current, accurate and comprehensive view into which products have sold by date, chain, store, size, brand, color, demographic and geography. Management can react more quickly to trends, capitalize on market opportunities and make better decisions about production and inventory, leading to improved operations and decreased costs.
By using SKYPAD, a unique Cloud Computing solution from Sky IT Group and IBM, Bernard Chaus, Inc. has achieved the impossible – the ability to track which clothing items are selling – and which are not – at the retailer level on a day-to-day basis. This unique insight is achieved by merging information from retail outlets around the world augmented by Chaus Enterprise Resource Planning (ERP) data. Chaus can quickly make predictive decisions to help customers drive sales, cut markdowns and realize cost savings.
What were the real business results?
- Dramatically improved sell-through (actual items sold), saving up to 30 percent in costs related to returns, lost sales and mark-down expenses
- Improved ability to react more quickly to sales trends, customer preferences and marketplace opportunities
- Increased efficiencies and collaboration across the sales, design, merchandising and production departments with a single, integrated view of data