Fashion retailer Loewe has cut time to market by 10% and reduced stock-outs by 50% after revamping its product lifecycle and supply chain management systems.
Loewe, part of the LVMH brand family, sells leather goods and upmarket accessories in 35 countries through more than 150 stores.
The company bought a suite of programs for product lifecycle management and supply chain management developed for fashion retailers by UK-based software house TXT e-solutions. The packages are based on its TXTPerform suite.
The project with TXT covered the collection lifecycle from end-to-end. This went beyond collection planning and development to include production planning, allocation and replenishment at stores.
Together these have improved forecast accuracy and allocation of products to the stores, as well as reduced out-of-stocks by 50%, and time to market by 10%, the company said.
Loewe's director of systems and logistics Marcelo Baltzer said the 25-30 users in product development can now easily share product and cost information internally and externally. "This has had positive effects on the quality and speed of product development," he said.
"The last process to be implemented was the planning of production and raw materials procurements, which will allow us to further enhance delivery plans and service levels."
Loewe project manager Jose Luis Fernandez said the firm will now redesign its logistics network as well as the distribution planning of raw materials and finished products all along the supply chain to get even more efficiency.