Anaplan for Luxury Fashion: Navigating the Complexities of the Modern Retail Landscape
The luxury fashion industry has faced significant challenges recently, including the growth of omnichannel and direct-to-consumer strategies, global pandemics, inflation, and supply chain issues. After a tough holiday season, retailers are now focusing on 2024, aiming to boost profits, protect margins, and cut excess costs.
In this challenging environment, Anaplan emerges as a powerful tool, helping retail leaders optimize their operations and plan more effectively. Anaplan for Fashion is a comprehensive solution kit that empowers fashion retailers with end-to-end retail planning capabilities. Developed by a team of industry experts and running on Anaplan’s market-leading platform for connected planning and decision-making, Anaplan for Fashion offers agility, insight, and flexibility to address the most pressing business challenges.
Key Benefits of Anaplan for Fashion:
Transparency: Gain full visibility into headcount and associated costs, revealing hidden workforce challenges.
Alignment: Synchronize workforce planning with business strategy and budgetary considerations, ensuring cohesive business growth.
Analysis: Conduct robust “what-if” analyses to anticipate the impacts of potential changes and prepare for varying economic conditions.
Agility: Swiftly pivot workforce plans to adapt effectively to changes in market demands and organizational priorities.
Strategic Guidance: Provide early insights for recruitment and bridging skill gaps, helping to attract and retain top talent.
End-to-End Solutions Tailored for Luxury Fashion:
Anaplan for Fashion comprises six highly configurable, pre-built solutions that help retailers gain the agility and insight needed to address their most pressing challenges:
Merchandise Planning and Strategy: Align merchandise planning with business goals and financial targets.
Assortment and Buy Planning: Fine-tune assortments at size/style/color levels, ensuring consistency with financial goals.
Collection Pricing: Optimize pricing strategies to enhance profitability across collections.
Distribution Planning: Strategically plan and monitor distribution channels for optimal reach and sales.
Store Staff Sales Performance Management: Manage and evaluate store staff sales performance, driving efficiency.
Material Sourcing in Fashion: Streamline sourcing strategies to minimize supply chain costs and disruptions.
Optimizing Assortments in Real Time:
With Anaplan’s Assortment & Buy solution, luxury fashion retailers can:
Ensure brand consistency and communality in determining assortments with respect to financial goals.
Predict future demand for new products using historical data and demand profiles.
Model promotion management, halo, and cannibalization relationships.
Enable seamless collaboration between merchandising, buying, supply chain, and production teams.
Solution Features:
Dynamic Store Clustering: Group stores based on multiple attributes, benchmarks, and historical data.
Optimal Assortment Determination: Determine and value optimal assortments for each location, channel, and customer segment.
Size Grid Ratios in Real Time: Utilize real-time data to optimize assortments at size/style/color levels.
Lifecycle Planning: Plan demand profiles and curves for new products over a time horizon.
Optimized Allocations and Store Set-Ups: Maximize sales potential while minimizing supply chain costs.
Transformative Impact of Anaplan for Luxury Retailers:
One major fashion brand with a worldwide distribution network recently deployed Anaplan for Fashion. With over 2,500 shops and corners in 120 countries, the brand realized consistency and agility in strategy, pricing, assortment, and buying, leading to a 2% increase in sell-out. Another renowned luxury retailer transformed its financial forecasting and data processing systems, gaining valuable time for analysis and strategic opportunities by automating manual processes.
Anaplan for Luxury Fashion offers the following advantages:
Talent Strategy Alignment: Design strategies aligned with business objectives and budget constraints.
Gap Identification: Identify skill shortages, model scenarios, and align decisions accordingly.
Capacity Assessment: Analyze workforce capacity and productivity against workload.
Location Optimization: Strategize remote, in-office, or hybrid approaches for accurate cost estimation and trend tracking.
A Strategic Catalyst for the Luxury Industry:
Anaplan’s platform transcends being a mere tool; it’s a strategic catalyst, shaping luxury fashion organizations for resilience, adaptability, and sustained success in an ever-evolving retail landscape. By integrating HR, finance, and operational plans, Anaplan for Fashion empowers luxury retailers to navigate the complexities of modern retail confidently and strategically.