HARDWARE STORES

New software drives ‘true value’

BY Deena M. Amato-McCoy

True Value is optimizing its inventory levels and replenishment efforts with a new demand forecasting solution.

True Value, the Chicago-based distributor, built its reputation on learning how to anticipate customer demand. But when the company needed a more accurate way of replenishing inventory based on actual customer buying trends, particularly for highly variable categories like seasonal, weather dependent and novelty items, True Value embarked on a strategy to revamp its demand planning and replenishment processes.

By adding JDA Demand, True Value gained a single, accurate, enterprise-wide view of customer demand. More granular forecasting capabilities drill down to the hourly and item levels, driving more dynamic and variable demand categories. Previous systems would miss trend changes and the opportunity to adjust demand forecasts.

Since deploying JDA Demand, True Value has seen millions of dollars in inventory reductions, while sustaining an industry-leading first-time fill rate and improving turns on its inventory investment. With fewer stock-outs, True Value can deliver a better customer experience, leading to increased sales and satisfaction, according to the company.

“We needed a better way to predict demand more accurately,” said Lyndsi Lee, divisional VP of inventory and global sourcing, True Value. “JDA has surpassed our expectations and been a true partner, driving inventory reductions we can choose to reinvest as well as improving our ability to forecast demand.”

True Value plans to expand its JDA footprint this year with a replenishment planning module that will not only forecast demand changes more quickly, but also react and replenish faster, according to the company.

The deployment of the solution coincides with True Value’s overall growth strategy. In the spring, the company sold a majority stake to Washington D.C.-based private equity company ACON Investments. Through the deal, ACON Investments now owns 70% equity of True Value Company. Current True Value members kept 30% equity, and received a $196 million cash payout.

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2018 Stihl Hardware All Star — Canaan Hardware & Supply (New Hampshire)
HARDWARE STORES

All Star variety in Vermont and New Hampshire

State by state, meet the 2018 class of Stihl Hardware All Stars.

BY HBSDealer Staff

It takes a little more to be a Stihl Hardware All Star.

Each year, HBSDealer solicits nominations from readers and the industry for Hardware All Stars.

And each year, we’re rewarded with a fresh class of high-performing, community-minded, service-oriented businesses worthy of the honor.

During the course of our research, we’ve met dealers who take risks, inspire staff and lift communities — or have what we call the All Star spirit.

Congratulations to all of the 2018 Stihl Hardware All Star honorees. Here’s two stars worth gazing at:


New Hampshire
Canaan Hardware & Supply

Robin Parker, the fourth generation to run Canaan Hardware & Supply, doesn’t like turning customers away. Her mantra has led to expanding product selection, including the maple sugaring, canning supplies, sporting goods, and hunting and fishing departments. When a local glass shop recently closed, Canaan Hardware took the service on and became the go-to place. “If a customer is already in the door, I want to help them the best I can,” Parker said. “If I can keep them coming here, versus somewhere else, I will do it.”


Vermont
Johnson Hardware & Rental

Sales growth. Check. Community involvement. Check. Taking risks and reaping the rewards. Check. These are the All Star virtues of owner Alan Lehouiller and his team in Johnson. What started as a 1,000-sq.-ft. milk parlor has expanded into a remarkable retail enterprise. With more than 25,000 sq. ft. of showroom and another 20,000 sq. ft. of outbuildings, Johnson’s serves homeowners, contractors, ski resorts, hotels, sugar makers, towns and families. A remarkable retail enterprise.

See the full Class of 2018 Hardware All Stars — presented by Stihl — in the May issue of HBSDealer magazine.

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2018 Stihl Hardware All Star — Bernardsville Hardware & Supply (New Jersey)
HARDWARE STORES

Northeastern excellence in New Jersey, New York, Rhode Island and Connecticut

State by state, meet the 2018 class of Stihl Hardware All Stars.

BY HBSDealer Staff

It takes a little more to be a Stihl Hardware All Star.

Each year, HBSDealer solicits nominations from readers and the industry for Hardware All Stars.

And each year, we’re rewarded with a fresh class of high-performing, community-minded, service-oriented businesses worthy of the honor.

During the course of our research, we’ve met dealers who take risks, inspire staff and lift communities — or have what we call the All Star spirit.

Congratulations to all of the 2018 Stihl Hardware All Star honorees. Here’s four stars worth gazing at:


New Jersey
Bernardsville Hardware & Supply

When Drew and Renee Hubiak saw a hardware store for sale in upscale Bernardsville, they jumped at the opportunity. “It was based on passion more than anything,” Drew said. “I just felt the community needed that and wanted that, and we also saw an opportunity for ourselves to grow.” But some things had to change with the aging store’s vintage feel. When the store reopened in 2017, it entered All Star level. “We totally remerchandised all the fixtures, it’s just a more modern approach to an old-fashioned hardware store. That’s how I would describe it.”


New York
Alper’s Hardware

This 2018 True Value Best Hardware Store in Town honoree has been serving its Long Island community through four generations since 1911. The store is known for its selection, reliability, its great service and, increasingly, its annual Alper’s Karmacue. It’s a barbecue with karma — a street fair that raises money and awareness for the Community Chest of Port Washington. “I think the key to what makes us successful is embracing change,” said Adam Novick, fourth-generation co-owner.


Rhode Island
Cluck! Urban Farm Supply

This Providence farm and gardening supplies retailer has an unusual name to go along with an unusual path to All Star status. After battling regulators over outdated ordinances, owner Drake Patten skillfully overhauled an abandoned, unsightly gas station into an urban oasis of equipment for local garden and outdoor enthusiasts.


Connecticut
East Lyme True Value

Longtime employees provide stability and leadership at this All-Star store known for its big brands and healthy lawn and garden department. Case in point: manager Emerson Dexter started working here in 1982 as a high school student. Last year, he and his team were recognized as one of the top performers throughout New England for Stihl’s lithium-ion-powered offering. “When we can offer a quality product, we just knock it out of the park,” he said. Dexter also spearheads a successful cabinet design service.

See the full Class of 2018 Hardware All Stars — presented by Stihl — in the May issue of HBSDealer magazine.

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