by Apparel Resources News-Desk
04-September-2018 | 3 mins read
HanesBrand, a global apparel company, has installed FuturMaster’s demand forecasting software in major European markets to boost its global supply chain.
The apparel brand sells through a number of retailers in more than 40 countries and also operates nearly a thousand company-owned retail stores worldwide. “Every country in Europe has a different set-up, multiple products and is a lot more complex to deal with,” said Christophe Pecriaux, Forecasting Manager – Western Europe, Hanes Intimates.
Previously, the company sales were forecasted separately by each country, to maximize the profit from the global Hanes supply chain. Due to this, the retailer required same process to be implemented everywhere. Also, the company wanted better reporting structures in place and software to measure performance (KPI’s). The need for a centralised system gave them the idea to install FuturMaster’s demand forecasting software.
The installation has helped with 10 per cent increase in forecasting accuracy, depending on the category of product and learning curves. Also, it has helped with the reduction of manual data errors and out of stock issues. This has further helped the company in working towards the same goal with much more efficiency.
“We have expanded our brand portfolio, diversified our business internationally and across channels, and increased the leverage of our powerful global supply chain to deliver more consistent organic growth and higher cash-flow generation,” said Gerald W. Evans Jr., Chief Executive Officer, Hanes.
The system works by working on the patterns and behaviour, learned by millions of data points that are fed into the system. This helps in the determination of the supply chain issues before it happens. “This can help fix any problems before they occur and ensures we have the right products when and where our customers want them,” said Ben Martin, Hanes Brands’ Chief Advanced Analytics and Global Planning Officer.
The future plan of the company is to implement the technology in a few more remaining countries. The company further aims to penetrate into machine learning and AI technologies to predict a potential issue. The technologies will also help in recommendation and implementation of appropriate action.