Randa Accessories Uses Atlas Planning Platform to Drive Cross-Functional Collaboration
COMPANY: Randa Apparel and Accessories
WEBSITE: www.randa.net
INDUSTRY: Apparel and Footwear and Wholesale Distribution
COMPANY TYPE: Privately Held
JOHN GALT SOLUTION: Atlas Planning Platform
Company
Founded in 1910, Randa Accessories has a long history as one of the largest accessories companies in the world. Their reach spans 11 countries and includes a current portfolio of 50 brands including Dockers, Hanes, Levi’s, and Columbia Sportswear. Randa has expanded over the decades to sell thousands of products such as wallets, belts, ties, luggage, and more. Their products are available through major retail customers including Nordstrom, Walmart, Kohls, and Amazon.
Results
- Improved forecast accuracy
- Optimized inventory levels
- Ability to react to unplanned events, disruptions and market volatility
- Increased collaboration between internal and external partners
- Gained visibility for strategic decision making
- Created a single, integrated business and operational plan
Challenge
As Randa’s production and range grew globally, the team knew they needed to tackle inventory challenges, improve their demand planning processes, and streamline communication with both internal and external stakeholders. Managing an expansive global network of retail and brand partners, and thousands of unique products associated with each individual partner represented significant challenges. To address this complexity, Randa tags all products allowing them to identify which retail customer it is for. Because each product has a specific retail tag attached to it, Randa had to identify the optimal level of inventory associated with each retail customer to support desired service levels while avoiding rework such as overseas re-orders or re-tagging products.
Randa is divided into five distinct business divisions, each managing different product categories and each with its own internal business processes. Thus, it was critical to bring together all the diverse divisions under one umbrella platform to ensure they were all working with the same data.
Solution
The Atlas Planning Platform from John Galt Solutions allowed Randa to standardize planning and drive collaboration between departments, as well as accelerate supply chain performance.
Working with John Galt Solutions, Randa created a “virtual supply chain network” with views of the inventory flow, network lanes associated with each product, retail customer destinations, and even virtual customer warehouses. The virtual supply chain network allows Randa to continuously assess potential vulnerabilities and optimize inventory associated with each retail customer on a daily basis.
The Atlas Planning Platform includes a range of advanced AI-driven inventory management and planning capabilities. Vendor Managed Inventory (VMI) is one that Randa has used to drive end-to-end efficiency gains. The improved product availability, while simultaneously lowering costs by identifying demands and restocking as appropriate at each customer location has been a true game-changer for Randa and their customers alike.
With Atlas Planning, Randa further improved its forecasting capabilities by bringing in external information, analyzing patterns and trends, and sharing forecasts collaboratively across departments. This has resulted in faster and more confident data-based decisions.
Benefits
The Atlas Planning Platform has enabled Randa to streamline their planning processes, improve inventory management, and drive cross-functional collaboration across business divisions.
With the ability to optimize inventory to overcome business hurdles, Randa is balancing products across the virtual supply chain network without re-ordering products from overseas, while reducing the impact of long lead times and optimizing inventory levels taking into account the safety stock needed for key customers.
“John Galt is a great and easy team to work with. They are very open in their work and have been directly collaborating with us to understand our business processes and find new solutions.”
Tim Walter, CIO, Randa Accessories
