Manufacturer turned wholesaler runs a profitable business using data
Caprice's managing director, Harvey Lewis, shares insights on why data is king and information is the most important thing you can have to drive your business today.
“Our data in Phocas, combined with our retail partners' sales data lets us do plan inventory to place the right commitments with our resources and our vendors overseas, and to make sure we're holding the right number of weeks stock domestically to meet demand. It ensures that we are running a profitable business.”
Harvey Lewis — general manager, Caprice Australia
Sales up in 130 Target stores - significant increase in sales since Caprice implemented Vendor Managed Inventory (VMI) model.
5x growth in 10 years - reliable data at everyone's fingertips is vital to accelerate growth with confidence.
Data analysis is used extensively at Caprice to ensure the most accurate decisions are made to manage costs efficiently, provide the best customer experience and be agile.
Benefits for Caprice
Customer behavior analysis
Caprice uses sales data from its retail partners and adjusts them for promotions, weather and time of year to make accurate forward decisions of production which drives efficiency and increased sales.
Knowing where products sales by colour, size and quantity are most likely to come from means Caprice can manage many SKUs of inventory accurately (reduce overstock, avoid understock) and ship goods to the right location, keeping cost to serve down and margins stable.
The global supply chain is volatile and to manage the constant change, Caprice uses its data systems to give them accurate information to be able to function and report back correctly as to what's happening.