AKA Brands' Secret to Reducing SKU Count by 50-75% While Maintaining Sales

About

AKA

AKA Brands, a prominent player in the fashion industry known for its portfolio of successful digital native brands, has revolutionized its inventory management strategy and achieved remarkable results since implementing Toolio's integrated inventory management solution. As a company that specializes in acquiring and scaling high-potential fashion brands, AKA Brands understands the importance of efficient inventory management across its diverse portfolio. By leveraging Toolio's advanced demand forecasting and inventory visibility capabilities, AKA Brands has optimized its inventory levels, significantly reduced SKU count, and greatly improved its decision-making process.

Use Cases

Inventory Planning and Forecasting

SKU Rationalization

Collaboration and Transparency

Modules

Merchandise Planning

Assortment Planning

Item Planning

Reporting & Analytics

Location

United States

Australia

50-75%

SKU Count Reduction

Expected $5M

in Cost Savings and Efficiency Gains

5-10

Weeks of Stock Reduction

Solution

Navigating Challenges with Multiple Tools

Before implementing Toolio, AKA Brands used a fragmented approach to merchandise planning, forecasting, and assortment planning, utilizing tools like Excel, Inventory Planner, and Airtable. This process resulted in a lack of transparency in inventory planning and challenges in identifying opportunities for SKU rationalization. Stacey Schriefer, VP of Inventory Planning at AKA Brands, acknowledged the necessity for a comprehensive, data-driven solution to tackle these issues head-on.

Stacey Schriefer

Vice President Inventory Planning

“Toolio was instrumental in showing our merchants that they could have 50-75% less SKU count and do the same amount of sales. We expect $5M in cost savings and efficiency gains.”

A Closer Look at Metrics

SKU Count Reduction: Stacey Schriefer highlights, "Toolio was instrumental in showing our merchants that they could have 50-75% less SKU count and do the same amount of sales. It was easy to see where items had opportunity year-over-year and needed to be bought bigger while also showing where the longer tail of SKUs was not required to sustain or grow the business."
Improved Inventory Management and Forecasting: With Toolio's demand forecasting capabilities, AKA Brands can better identify and invest in top-selling items. Schriefer notes, "We are able to better buy into the items we know are going to be top sellers. This allows us to make smarter bets up front on selected assortments."
Enhanced Collaboration and Transparency: Toolio has streamlined collaboration and communication among team members. Schriefer emphasizes, "The transparency Toolio provides across the teams is essential. At any time planners and merchants can easily see the available Open to Buy (OTB) and forecasts."
Expected Cost Savings: By leveraging Toolio's platform, AKA Brands expects to achieve $5M in cost savings and efficiency gains, along with a 5-10 WOS reduction in various categories.

Data-Driven Decision Making

Stacey Schriefer highlights Toolio's pivotal role in transforming AKA Brands' inventory management approach:, "Toolio is an effective out of the box connected planning solution, enabling collaboration and rewarding teams with transparency and efficiency." The platform's robust features, such as the Compare mode in Assortment Planning, have simplified processes and enhanced the company's ability to make strategic decisions quickly.

Driving Operational Excellence

The adoption of Toolio at AKA Brands has not only optimized their inventory management processes but also empowered the company to thrive in the competitive fashion industry. With Toolio's support, AKA Brands confidently navigates inventory challenges, ensures optimal SKU count, and makes informed decisions to meet consumer demands effectively.

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Hunter Bell, a celebrated fashion brand renowned for its feminine silhouettes and vibrant use of color, has revolutionized its inventory planning and management strategy since adopting Toolio's integrated solution. By leveraging Toolio's advanced features and data-driven insights, Hunter Bell has significantly enhanced its inventory efficiency, minimized stockouts and dead stock, and elevated its overall business performance. This strategic move has not only bolstered Hunter Bell's operational agility but has also amplified its commitment to quality and craftsmanship, reinforcing its status as a leader in contemporary women's fashion.

How Kindred Bravely Optimized Inventory and Boosted Efficiency with Toolio

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AKA Brands' Secret to Reducing SKU Count by 50-75% While Maintaining Sales