This article is a summarized version of the interview. Download the free extended version to learn more about:
“What would earlier take us half a day is three clicks away in Madden. The ease of use is remarkable. The fact that we can set accurate forecasts with a simple click saves us heaps of time and allows us to spend time on deeper analysis.”
Focusing on scaling responsibly, Asket has turned to Madden Analytics to ensure flexible and reliable inventory planning and replenishment processes as they grow.
As a direct-to-consumer apparel brand on a mission to end overconsumption and restore value and responsible practices in the industry, Asket has revolutionized the traditional seasonal collections model. Their concept is built on forgoing seasonal collections and instead creating a permanent collection of mindfully produced, traceable, and timeless quality garments.
Earlier this year, Asket recognized the need for an advanced inventory planning solution to enhance predictability and flexibility. With a permanent collection and a sales model that promotes mindful consumption and eschews discounts, accurate planning is crucial to meet customer demand without accumulating excess stock that would tie up funds to the following year.
By utilizing Madden's comprehensive inventory planning system, Asket gains greater accuracy and predictability. This allows for more efficient collaboration with factories, ensuring a better response to customer demand while avoiding excessive inventory. A key aspect to facilitate Asket's commitment to responsible production, a core tenet of their philosophy.
In an exclusive interview, Tom Wellander, Business Controller at Asket, elaborates on their needs and objectives.
Whilst looking at other inventory planning solutions, Asket found Madden Analytics to be the best fit for the apparel industry.
Tom explains: “When shopping around we have found most systems were built for global enterprises or were not adapted to the clothing industry and our lead times and production cycles. Maddens’ platform is a great fit for our industry in how functions, allocation logic, and forecasting algorithms are built. Madden is easy to use, accessible, and forward-thinking. ”
Madden Analytics is, more specifically, set up to help brands get structure, intelligence, and automation in inventory planning and buying processes to ensure they stock the right inventory to meet customer needs whilst avoiding overstocking. The inventory planning functionality has machine learning-powered forecasts to help users forecast demand to inform their purchase plans. Along with an analysis module that allows users to get a thorough overview of their sales and inventory data, it has a stock optimization module set up to help users analyze their inventory health and allocate stock effectively. You can learn more about Madden's solutions here.
Asket was looking for a system to decentralize their inventory data and allow them to get a company-wide insight into their sales and inventory health.
“It’s important for Asket that essential knowledge and decision-making processes don’t live in silos. We wanted everyone to have access to the data and insights to make sure our plans are viable”, says Tom.
A D2C brand with a direct relationship to the customer base, Asket has rich, accurate, and structured data. With Madden, they are looking to unlock and better utilize the wealth of knowledge that data holds.
“Data is only as valuable as how you make use of it. We wanted a system that would allow us to make the most out of our analysis and plans, in less time. Madden makes it easy to get a great overview across the organization, but also orders the data in a way that makes it easy to deep dive in,” says Tom.
On top of facilitating information sharing and deeper analysis, Madden's way of structuring data allows brands to easily make accurate assumptions about their inventory health.
“Madden’s structuring of data not only makes it accessible, it adds a layer of security to the process. When planning inventory manually it is easy to make small misses that can disrupt the result. All the best-practice analyses are already in pre-built dashboards in Madden, we don’t have to reinvent the wheel. Getting a grasp of our inventory health is super quick with pre-set definitions of overstock and deadstock for example.”
The user-friendliness of Madden is a standout aspect that Asket values. Tom shared, “What would earlier take us half a day is three clicks away in Madden. The ease of use is remarkable. The fact that we can set accurate forecasts with a simple click saves us heaps of time and allows us to spend time on deeper analysis.”
Using Madden is about futureproofing for Asket. Currently, they have a plug-and-play integration with Centra to pull sales data into Madden. Being able to plug into an ERP or other systems will allow them access to even more information as needed in the future. Madden allows Asket to free up time to get a deeper understanding of their sales and inventory.
“The adaptability that Madden offers is important as we grow,” says Tom. “Making processes, analysis, and planning easier with fewer resources allows us to keep planning and allocating inventory for multiple locations efficiently whilst still keeping a lean organization.”
In conclusion, Asket's partnership with Madden Analytics is just another exemplification of the brand’s commitment to drive better practices in the apparel industry. By leveraging the advantages of an inventory planning system, Asket is not only steadfastly focusing on reducing overconsumption but also laying the foundation for growing responsibly.
Asket is an independent apparel brand founded in 2015 with the mission to slow down the fashion industry and change the way we manufacture, market, and consume clothing. Based on honest production, transparent pricing, and revolutionary sizing, they're perfecting a single, permanent collection of timeless essentials and restoring the meaningfulness of the garments we actually use the most.