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Tandy

Aligning Product Development To Customer Needs

Challenges

  • Company was in the midst of a full scale turn around approach and had indentified several priority strategic initiatives including product lifecycle management
  • Men’s, Women’s and Gifts divisions operating as independent units with little or no cross-communication
  • Excessive inventory was clogging warehouses, contributing to large negative ROI
  • 20% of SKUs were generating 92% of sales

Approach

  • Defined strategic imperatives around the planning, development, management, and retirement phases of the product lifecycle:
  • Created better understanding of consumer and customer fashion and product needs early in process to drive product design and line planning
  • Improved coordination between design, marketing, merchandising, sales, finance and operations
  • Designed strategy to move reduce private label and increase branded business
  • Developed tactics to support retailers as category captains

Results

Project expected to help drive company financials as follows:

  • Increase sales by $75M
  • Increase gross margin by 2% of sales
  • Increase ROI to 30%
  • Increase average inventory turns from less than 2 to more than 3
  • Projected potential annual impact of more than $13M
  • Improved coordination between design, marketing, merchandising and sales
  • Increased speed to market

 

Case Study TandyBrands Playbook

 

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