Lingerie Company Of Australia Chooses NetSuite OneWorld To Fuel Business Model Innovation
May 19, 2016 by admin
Filed under Latest Lingerie News
In July, Simone Pérèle plans to enter into concession relationship with David Jones, establishing a direct selling model in each department store where it will become solely responsible for inventory management and staffing. In order to support this move, Lingerie Company of Australia expects to rely increasingly on NetSuite OneWorld to provide accurate stock visibility across its 20,000 SKU’s and to help deliver enhanced customer service.
“A challenge we’re currently facing is to ensure we’re ahead of the industry shift away from pure wholesaling and toward ‘own’ retailing,” said Tim Rosenfield, CEO, of the Lingerie Company of Australia (Simone Pérèle ANZ). “The new concession agreement with David Jones is a perfect step to help achieve our business growth objectives; however, it is also adding a whole new layer of complexity. In order to manage this change, we need a robust inventory management system and NetSuite OneWorld can give this to us.”
As part of the company’s shift toward direct selling, Lingerie Company of Australia recognised that it needed to upgrade its customer relationship management (CRM) capabilities. Despite having over 200,000 Australian customers in its loyalty program, many contact details were inaccurate, and the lack of ERP integration made it difficult to get a single view of the customer. With NetSuite OneWorld, the company can now access and analyse each customer’s complete transaction history and turn this data into customised engagement. It can track what customers are buying and engage with them through tailored email marketing, whether offering complimentary items or communicating special deals with high value customers. Lingerie Company of Australia also has future plans to use NetSuite’s powerful development platform to further automate this tailored communication with its customers.
“As a business, we can now engage with our customers in a much more meaningful way, and this largely has to do with how we obtain, analyse and manage our data,” Rosenfield said. “Being able to offer our customers items based on their purchase history and engage with them in a way that makes them feel valued, is crucial to our business. To ensure we are providing the best level of service to our customers, we also need a responsive stock analysis system to offer the desired items to our ANZ customers in a timely manner.”
The rising cost of doing business in Australia and New Zealand is another concern for Lingerie Company of Australia. In order to maintain its warehouse in Brunswick, Victoria, it needs to maximise efficiencies across the business, and this requires clear visibility of financial performance. With its legacy system, Lingerie Company of Australia previously had no insight as to how it was performing until profit and loss statements were received at month’s end.
NetSuite OneWorld supports 190 currencies, 20 languages and automated tax compliance in more than 100 countries, and transaction in more than 200 countries. Since implementing NetSuite OneWorld, Lingerie Company of Australia has experienced the following benefits:
- More efficient and accurate inventory and delivery management: Lingerie Company of Australia’s inventory and delivery management was previously cumbersome and ineffective as it relied on manual data entry, with only select employees having visibility of stock arrivals and product performance. With NetSuite OneWorld, stock performance and delivery reports can now be viewed on a daily or per transaction basis, allowing the business to identify the cost of different stock items and better optimise their distribution across the business.
- Financial transparency that allows action: With NetSuite OneWorld, Lingerie Company of Australia can view performance figures daily and make adjustments accordingly through initiatives such as promotions, changes to shipping schedules and adjustment of staff hours.
- Visibility turns to profit: For the two years it had been open, one of the organisation’s Australian stores was unable to turn a profit, and given the lack of visibility into stock performance and financials, the reason could not be identified. NetSuite OneWorld helped Lingerie Company of Australia analyse transactions and gross margins and after making changes to the stock offering, the store turned a profit within two months.
- Effective stock management: Lingerie Company of Australia can now more effectively analyse efficient vs. inefficient stock to the benefit of the business. It is also undertaking a large project to increase stock turns by utilising the help of sales reports, stock on hand and delivery management.
- More efficient warehouse management: Prior to NetSuite OneWorld, Lingerie Company of Australia did not use any sophisticated warehouse tools. It now has the ability to track cost of shipping per box to streamline efficiencies.
- Integrated POS system: NetSuite’s POS solution is a vast improvement on the previous legacy system. Now that all transaction data is captured within NetSuite, Lingerie Company of Australia is able to analyse data in real-time to understand where further efficiencies can be gained.
- Easily operate in multiple currencies: Through NetSuite OneWorld, the ANZ subsidiary of the Simone Pérèle Group is able to easily pay its global parent company in local currencies, USD and Euro when invoices are received.
- Reduced IT costs and complexity: NetSuite’s proven, secure cloud solution has helped significantly reduce the need for Lingerie Company of Australia to allocate time and additional budget to managing, maintaining and upgrading its business critical applications.
Today, more than 30,000 companies and subsidiaries depend on NetSuite to run complex, mission-critical business processes globally in the cloud. Since its inception in 1998, NetSuite has established itself as the leading provider of cloud-based financials/enterprise resource planning (ERP) and omnichannel commerce software applications for businesses of all sizes. Many FORTUNE 100 companies rely on NetSuite to accelerate innovation and business transformation. NetSuite continues its success in delivering the best cloud business management software to businesses around the world, enabling them to lower IT costs significantly while increasing productivity, as the global adoption of the cloud accelerates.
For more information about NetSuite please visit www.netsuite.com.au.
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SOURCE NetSuite Inc.
