Experience how Avercast can help you to Balance Demand & Supply for your business.
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Here is how Avercast helped Ellery Homestyles come out of lengthy out-of-stock periods and optimize inventory.
Ellery Homestyles deliver branded and privately labeled products like curtains, window treatments, bedding, and specialty items to giants like Costco, Target, and Walmart. Founded in 1924, the company today has a global footprint. Molley Puckett, who started with the design side of the company, is now the VP of Demand Management and Operations. Before switching to Avercast, Molly faced various issues regarding inventory forecasting and inventory planning.
Two years ago, Molly went through what she described as significant problems with demand planning and demand forecasting. Her team used excel spreadsheets to forecast, which were complicated and had formulaic errors. This resulted in lengthy out-of-stock periods. Simultaneously, their forecasting method was never on paper and was a recurring issue. It was all undocumented, making it almost impossible to maintain and provide training for the prediction spreadsheets.
However, six months after implementing Avercast software, they witnessed a 21% reduction in overall inventory and a 29% decrease in excess stock at brick-and-mortar stores of Ellery Homestyles. A drop of 12% in total and excess inventory was also recorded at e-commerce sites. Lauding the benefits received through Avercast, Molly said, "Along with seeing the ample financial gains as a result of implementing Avercast software, it has aided in the reduction of excess inventory. It has improved overall processes, collaboration, and understanding of the actual mission for us as demand planners. Going forward, Avercast will ensure sustainable growth for the company for decades.
Ellery Homestyles has also observed various added benefits by using Avercast's 250+ proprietary algorithm software. They can now minimize the spikes in the inventory levels as their forecast reflects events at the company and around the world. With the help of Avercast software, Ellery Homestyles developed a monthly process for reducing and reviewing the excess and aged inventory or stock. All this adds up to better and more efficient operations.
The planning team now invests the right amount of time in analyzing the data and preparing a forecast, following the literal meaning of working smarter, not harder. The industry where Ellery Homestyles operates demands precision. Choosing Avercast to ease the burden of demand management highlights their trust in Avercast software. Molly differentiates it from its competitors, "Avercast's tool is already robust, but they are at the next level when it comes to cutting edge development."