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Rodolphe BerebyVP Finance & Operations, DE FURSAC
Former CFO/CDO, Adore Me
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Using Magento
to Grow your
Business
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Quick Intro to Adore Me
For the past 25 years, many
have tried to do this, from
major brands to startups.
They all failed to Victoria’s
Secret – We succeeded.
• New women’s intimates online ecommerce
• Superior product
• Better service
• Perfect platforms
• Inspirational brand
• Killer price
• Addressing millennial women needs
• Ranked No. 2 on the Inc. 500 list of fastest-growing companies in NYC and more than 1 M Facebook likes
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Insights from Adore MeDemand planning : Order to deliver (OTD)
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A Very Complex Challenge
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
2014 2015
500%
274%
276%
20132012
Fast-fashion StyleDiversity
VolatileGrowth
Big DataLong lead time
StrongCompetition
Process
MassiveMinimum order
Quantity
ProductComplexity“If you want to start a brand with, say,
100 different styles, and you need to purchase 5,000 to 10,000 units of each, that’s a $10 million to $15 million investment before you’ve made any sales” Morgan Hermand, CEO Adore Me, NYT, February 2015
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We Collected All Data from Magento• We have developed a visual tool in Magento to capture in real time product data :
– Past 12 mosales
– Current inventory
– Future deliveries (Purchase Orders already placednths)
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Supply Chain OTD – Overview
Identification
of needs
Supplier
inquiry and
negotiation
Ongoing orders
follow up
Delivery
follow-up
• What to buy?
• When to
buy?
• How much to
buy?
• What is
available?
• What price?
• What
quantity?
• What
incoterm?
• What lead
time?
• How to
ensure
products
and delivery
infor-mation
are updated
in Magento?
• How to
follow up
the different
orders?
• How to
ensure that
Adore Me is
paying for
what they
actually
ordered?
What
2 3 4
Data
validation
1
• How to
ensure
that the
data
available
in the
system
are
accurate?
Bold: Detailed slide
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Definition of Procurement Needs• Units sold
(forecast)
• Future deliveries
• Procurement needs to be delivered on that month to meet safety stock
• E.g. We will need to receive an additional 29,200 bras push-up in March 2016 to maintain safety stock
1
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Top-Down Approach
Act 2015 Fcst 2016 Variance
% Cat. Sales % Cat. Sales (Abs. Value) Color Replenish New % of Total
21% 23% 2% Bras Black 18,500 - 22%
23% 21% 3% Bras Pink 20,000 6,000 30%
9% 10% 0% Bras White 6,000 - 7%
20% 18% 2% Bras Blue 18,000 - 21%
6% 7% 0% Bras Purple 2,500 - 3%
2% 3% 1% Bras Red 2,500 - 3%
4% 3% 1% Bras Yellow - - 0%
5% 7% 2% Bras Nude 9,000 - 11%
1% 1% 0% Bras Orange - - 0%
3% 3% 0% Bras Gray 3,000 - 4%
4% 4% 0% Bras Green - - 0%
0% 0% 0% Bras Brown - - 0%
2% 1% 1% Bras Print - - 0%
100% 100% 12% 79,500 6,000 100%
PROPOSED ORDERS
BRAS (REGULAR) -- Sep order for May/June showroom
Current inventory : 210
Sales last 12 months: 2.2k
Highest month: 1.0k
Open PO: 6000 (Oct)
Proposed PO: 4000
Allison
Current inventory : 263
Sales last 12 months: 3.9k
Highest month: 2.5k
Open PO: 0
Proposed PO: 7000
Mariana
FY16 (Fcst) FY15 (Act)
Total Revenue ($ '000s) 23,731 9,260
Total Sets 702,073 298,243
Bras (Regular) % of Total 39.0% 36.3%
Bras (Plus) % of Total 16.5% 10.4%
Bras (Total) % of Total 55.6% 46.7%
May/Jun/Jul
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After 18 Months of Implementation
ERP’s objectives
• Facilitate the procurement
needs definition in terms of
time, quality, quantity and cost
• Highlight Magento’s
hypotheses, calculation rules
and avoid the “automatically
calculated” syndrome
• Facilitate continuous
improvement by updating a
library case of issues e.g. sold
out size, excess inventory
Integrated real time visibility
• Sales
• Inventory
• Order and Purchase order
• Costs and incoterms
• Logistics and quality check
• Receiving and payment
What Snapshot
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After 18 Months of Implementation
ERP’s objectives
• Facilitate the procurement
needs definition in terms of
time, quality, quantity and cost
• Highlight Magento’s
hypotheses, calculation rules
and avoid the “automatically
calculated” syndrome
• Facilitate continuous
improvement by updating a
library case of issues e.g. sold
out size, excess inventory
Size breakdown suggestion
• Define the quantity to order
per size based on:
• Product characteristics
• Sales history
• Inventory
• Order placed
• Control, update & validation
What Snapshot
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After 18 Months of Implementation
ERP’s objectives
• Facilitate the procurement
needs definition in terms of
time, quality, quantity and cost
• Highlight Magento’s
hypotheses, calculation rules
and avoid the “automatically
calculated” syndrome
• Facilitate continuous
improvement by updating a
library case of issues e.g. sold
out size, excess inventory
Communication interface
• Internal notifications
• PO status update
• External bridge with supplier
• Quantity
• Price and Incoterm
• Expected Delivery Date
What Snapshot
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After 18 Months of Implementation
Strong KPI achieved
• Inventory management:
analytical and efficient! Only
4% of all units are slow
movers (i.e., didn’t sell a unit
in the past 3 months)
• 30% of sales from “Must-have”
products sold all year long and
with 5 months safety stock
level
• Millions of $ saved from better
inventory management without
damaging sales growth
Level of inventory, Month of sales estimates
3
4
5
6
7
8
9
10
Mar2013
Jun2013
Sept2013
Dec2013
Mar2014
July2014
Sept2014
Dec2014
Mar2015
205k
XX # of sets
Target for 2015
266k 338k173k 233k 327k216k 204k
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Next steps
Fit to De Fursac
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Quick Intro to DE FURSAC
• Luxury formal and casual chic “French elegance” for men clothing
• 39 stores and corners
• 2 digit YoY sales growth since 2012
• Recent successful launches of knitwear, shoes and more to come…
• Ecommerce sales quickly growing since 2012
• A corner recently opened in Switzerland and more store openings in Belgium, Switzerland, UK… to come soon
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Fit To DE FURSAC
• Use Magento to develop cross channel sales :
– Build data analytics visual tools
– Implement a new procurement process
Shorter lead
time
2 collections
a year Vs
every month
“Slower”
growth
40 POS and
an online
store
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My Background
• A Science and Finance background : – Graduated from Mines de Paris, top-3 French engineering school (Master of Science)
– 8-yrs experience at Ernst & Young and L’Oreal
– Gained skills in financial planning & analysis, internal controls…
• And a strong appetite for big data, online economics, supply chain and entrepreneurship :
– 3-yrs experience as Chief Finance and Data Officer (CFO & CDO) of Adore Me in New York in charge of Finance, HR, Demand planning, Customer segmentation, lifetime value & other customer analysis
– Joined in 2012 at an early stage and helped the business to grow by 150% every year while managing cash, inventory and implementing “lean” procurement process
– Drove inventory level from 12 to 4 months of future sales while keeping steady growth and high level of product availability
– Frequent use of Magento as tool to prepare products & customers analysis to hack growth with smart inventory management
– Recently joined De Fursac as Vice President of Finance & Operations in charge of Finance, HR, Logistics, Production and Data analytics
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