Use Case – Garment

Use Case – Garment


The ability to immediately identify the changes
in fashion trends, check inventory, and analyze costs propels companies in the garment industry
from the middle of the pack to best in class. In order to quickly find answers to time critical
questions such as “Do we have enough inventory to fulfill this order?”, “What style is
most fashionable during this season?” and “What price can I sell this item to achieve
my minimum profit margin?” you need an easy to use, flexible, and powerful data analysis
platform. A platform where you can create and drive
the key performance indicators that are critical to the success of your business. No need for manual spreadsheet manipulation
or unnecessarily burdening IT. Instead, an analytics platform which empowers
business users to design their own dynamic analysis quickly and easily for timely, effective
decision-making. Welcome to SRK – the self-service data analysis
platform in the cloud. With SRK, users are able to create analyses
without any programming knowledge, no data warehouse, and no unnecessary expenditure
of IT resources. Let’s see an example of how a best-in-class,
data driven Garment Company used SRK’s capabilities to forecast inventory required and identify
acceptable sales prices. Mike is a Vice President of a garment manufacturing
and distribution company, which has its own storefronts. With SRK’s conditional comparison feature,
he is able to see the company’s revenue from store level and break it down to a particular
item’s detail for each store. This gives him an overall view of how the
company is performing, what trends are currently the most fashionable, and how well each salesperson
is doing. This analysis allows him to make just in time
decisions, increasing the profitability of his company. Here, you can see that active shorts are the
most popular this season. He has sold most of his overall inventory
and almost all of his inventory in Store 1. Before SRK, when a salesperson asked Mike
for permission to sell an item at a particular price, he would manually cross reference inventory,
cost, and sales price data. Now, with SRK, Mike is able to schedule automatic
imports and create compute fields that centralizes his analysis logic. When new data comes in, SRK automatically
calculates the price range the salespeople are authorized to sell at. The amount of time and effort needed to update
his sales analysis is greatly reduced by automating the process and eliminating the need to re-create
the same analysis every time. Here, he sets the profit range between 30%
and 60% of the total item cost. These two calculations will show up as new
fields here. SRK is a flexible and easy-to-use platform
that drives companies to be best-in-class by giving their business users the just-in-time
dynamic analysis they need, when they need it, and wherever they have web access. Using just a few of its features, SRK is able
to help this garment manufacturer identify current fashion trends to help manage their
inventory, and identify acceptable sales price to quickly increase revenue and profitability. Ready to be a best-in-class company? Email us at [email protected] to schedule
a brief call to talk about your analysis challenges. For more information about how SRK has helped
other companies, take a look at our other Use Cases at drivenbi.com. Thank you.

Leave a Reply

Your email address will not be published. Required fields are marked *