Optimizing Inventory Allocation: Knix's Edge with Toolio

Knix, a trailblazer in the intimate apparel industry, renowned for its commitment to inclusivity and innovation, has transformed its inventory management with Toolio. This collaboration has streamlined Knix’s assortment planning, reducing excess inventory and boosting sell-through rates through Toolio's advanced analytics. The move underscores Knix’s dedication to leveraging cutting-edge technology to enhance operational efficiency and meet the unique needs of its diverse customer base, reinforcing its position as a leader in creating comfortable, functional, and innovative undergarments.

Prior to adopting Toolio, Knix relied on Excel for inventory planning and management, which led to time-consuming tasks and limited visibility into key performance metrics. Brittany Watts, Allocation Analyst at Knix, highlighted the need for a more efficient and data-driven approach to optimize inventory allocation across their retail channels.

• Time Savings: Reduced time spent on inventory planning and management tasks from over 20 hours per week to just 5-10 hours, saving at least 50% of time and effort compared to previous processes.
• Optimized Assortment Planning: "Using Toolio, I was able to look at sales history to create a retail-specific assortment for our new launch, eliminating the chance of ending up with excess inventory the stores wouldn't sell," says Brittany Watts.
• Improved Demand Forecasting: Utilized Toolio's demand forecasting capabilities to anticipate customer preferences and allocate inventory accordingly. "It has allowed me to follow customer trends to accurately predict the silhouettes customers purchase more, which has enabled me to only send units that will be guaranteed sold," explains Brittany Watts.
• Reduced Stockouts: Achieved a significant 50% reduction in stockouts, ensuring efficient inventory utilization.

Brittany Watts highlights the value of Toolio in enabling informed decision-making, stating, "It has allowed me to make data-driven decisions by creating sell-through reports for specific collections, sell-through history, and store-specific sell-throughs."

Toolio's implementation at Knix has not only streamlined their inventory allocation process but also positioned them for continued success in the competitive intimate apparel market. With Toolio's partnership, Knix can confidently make data-driven decisions, optimize inventory levels, and deliver the right products to the right customers at the right time.