A data management collaboration bringing best-practice data management principles to end-to-end supply planning for a multinational fashion retailer

One of the key challenges for this retailer was the discrepancy between the number of stock items it would purchase each season and how many customers would then buy. For instance, for every 140 T-shirts purchased, it would sell 100 in stores. This was due to several factors, including misjudged customer demand, supply chain issues and poor inventory management. All these pain points could be alleviated by improving data management and transforming the end-to-end supply chain.

Another obstacle is the fast-paced, evolving nature of technological advancement and the need to keep up with competitors. With the advent of social media, particularly Instagram and TikTok, fashion trends now move at a rapid pace. Retailers must now build a foundation for modern technology and enhancements to satisfy the needs of the modern customer.

Several members of the Novus team have experience in the retail space. One of our foremost experts has six years of experience working on graduate and business development schemes for big retailers, plus two years of warehouse operations management for a retailer operating over 400 UK stores. Using this extensive knowledge and experience, the team decided that the central point needed to be getting the right stock to the right place at the right time.

With a clearly defined framework of Define, Locate, Trace, Measure and Control, the team set to work. It led the retailer’s own data governance team to find its voice and mandate to bring good, industry-standard data management practice to bear. The team worked collaboratively to establish policies and forums for data management, and to establish good data quality practices across stock data.

The team also worked closely with AIAD and stock subject matter experts (SMEs) on good data practice for their Stock Accuracy Report. It looked to agree definitions in the business glossary that could be used across the organisation’s processes, capabilities and systems that feed into stock accuracy. The whole initiative was highly collaborative. Members of the Novus team frequently visited the retailer’s overseas headquarters to meet and engage with the data team, and to host data quality workshops for over 100 of its employees.

• Improved customer experience, both in store and online

  By improving data quality, the organisation can now analyse customer preferences and shopping behaviour to create tailored offers, recommend products and adjust prices instantly. The implementation of RFID (radio frequency identification) has further streamlined the customer experience in store. It enables quicker self-checkout and a more personal experience, as the system can now identify items the customer is taking to a fitting room and offer further recommendations.

• Smoother operations across the business and improved inventory optimisation. Stock levels are now balanced, with a reduced risk of shortages and overstocking. The improved management of data across the enterprise has also helped to optimise the supply chain and highlight inefficiencies.

• Better data quality has led to improved sales prediction and identification of trends, helping the brand stay ahead of competitors in an increasingly competitive retail environment.