Fruit of the Loom Enhances Financial Operations with OneStream Cloud Deployment
Company Size
1,000+
Region
- America
Country
- United States
Product
- OneStream
- Oracle Hyperion Financial Management (HFM)
- Microsoft Dynamics AX
- Oracle GL
Tech Stack
- Cloud Deployment
- Financial Consolidation & Reporting
- Budgeting, Planning and Forecasting
- Financial Data Quality
- Cash Flow Reporting
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Platform as a Service (PaaS) - Application Development Platforms
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Apparel
- Consumer Goods
Applicable Functions
- Business Operation
- Quality Assurance
Services
- Cloud Planning, Design & Implementation Services
- System Integration
About The Customer
Fruit of the Loom, Inc., a Berkshire Hathaway company, is a global pioneer in the design, manufacture, and marketing of family apparel, intimates, and athletic apparel and equipment. With a heritage of more than 150 years, its diverse portfolio of more than 20 iconic brands includes Fruit of the Loom®, Russell Athletic®, Spalding®, JERZEES® and Vanity Fair®. Headquartered in Bowling Green, Kentucky, Fruit of the Loom, Inc. employs nearly 30,000 people in 26 countries. It provides 258,000 additional jobs through sourcing and licensing manufacturing locations in 37 countries.
The Challenge
Having grown in size and complexity through organic growth and acquisitions, Fruit of the Loom was using Oracle Hyperion Financial Management (HFM) for financial consolidation and reporting. However, after three years of usage, the Finance team was having compatibility and support issues with HFM and was facing a costly upgrade. Lack of satisfaction with the product, including downtime during critical processes, and support issues caused Fruit of the Loom to evaluate their alternatives, and they selected OneStream.
The Solution
Fruit of the Loom selected OneStream in October 2016 and began their implementation in March of 2017. OneStream was selected mainly based on the functionality of the software, and the ability to extend the solution into other areas such as budgeting and planning, as well as account reconciliations through the MarketPlace. Fruit of the Loom also had confidence in the leadership of OneStream and their understanding of the market and customer requirements. Choosing to deploy via the OneStream Cloud, and with a two-person implementation team, Fruit of the Loom initially focused on deploying OneStream for financial consolidation and reporting, going live in October of 2017. The initial financial consolidation and reporting application included 1,200 accounts, 137 legal entities, 353 locations, 243 departments, and 195 brand codes. In total, this amounts to over 2.9 billion data points, which is 100 times the data points the company was collecting and analyzing in HFM. The application translates data from eight local currencies and provides a high level of automation for intercompany eliminations. OneStream was configured to load data directly from Microsoft Dynamics® AX and Oracle GL systems, with flat file loads and template-based data entry being utilized to collect data from other systems and locations. There are 60 users currently leveraging the system, including 30 from FP&A who are loading budgets into OneStream.
Operational Impact
Quantitative Benefit
Case Study missing?
Start adding your own!
Register with your work email and create a new case study profile for your business.
Related Case Studies.
Case Study
Fire Alarm System and Remote Monitoring Sytem
Fire alarm systems are essential in providing an early warning in the event of fire. They help to save lives and protect property whilst also fulfilling the needs of insurance companies and government departments.Fire alarm systems typically consist of several inter-linked components, such as smoke detectors, heat detector, carbon monoxide, manual call points, sounders, alarm and buzzer. The fire alarm system should give immediate information in order to prevent the fire spread and protect live and property.To get maximum protection a shoe manufacturer in Indonesia opted for a new fire alarm system to monitor 13 production sites spread over 160 hectars. Although the company had an existing fire alarm system, it could not be monitored remotely.It was essential that the new system would be able to be monitored from a central control room. It needed to be able to connect to the existing smoke detector and manual call point. Information should be easily collected and passed on to the Supervisory Control and Data Acquisition (SCADA) system. Furthermore, the system should have several features such as alarm management, auto reporting, being connected to many client computers without additional cost, and run 24/7 without fails. The company also needed a system which could be implemented without changing the architecture of the existing fire alarm system.
Case Study
IoT Applications and Upgrades in Textile Plant
At any given time, the textile company’s manufacturing facility has up to 2,000 textile carts in use. These carts are pushed from room to room, carrying materials or semi-finished products. Previously, a paper with a hand-written description was attached to each cart. This traditional method of processing made product tracking extremely difficult. Additionally, making sure that every cart of materials or semi-finished products went to its correct processing work station was also a problem. Therefore, the company desired an intelligent solution for tracking assets at their factories. They also wanted a solution that would help them collect process data so they could improve their manufacturing efficiency.
.png)
Case Study
Improving Vending Machine Profitability with the Internet of Things (IoT)
The vending industry is undergoing a sea change, taking advantage of new technologies to go beyond just delivering snacks to creating a new retail location. Intelligent vending machines can be found in many public locations as well as company facilities, selling different types of goods and services, including even computer accessories, gold bars, tickets, and office supplies. With increasing sophistication, they may also provide time- and location-based data pertaining to sales, inventory, and customer preferences. But at the end of the day, vending machine operators know greater profitability is driven by higher sales and lower operating costs.
Case Study
Series Production with Lot-size-1 Flexibility
Nobilia manufactures customized fitted kitchens with a lot size of 1. They require maximum transparency of tracking design data and individual processing steps so that they can locate a particular piece of kitchen furniture in the sequence of processes.
Case Study
Retailer Uses RFID Scanner to Improve Efficiency
Patrizia Pepe wished to improve the logistics of their warehouse: accepting incoming goods from their production sites, movement of items throughout
the warehouse, and packaging of goods for distribution to the retail locations. They initially tried to use barcodes for this function. Because barcodes must be individually scanned within a line-of-sight, the acceptance of goods coming into the warehouse was too time consuming. Working with the University of Florence, Patrizia Pepe instituted a five-month pilot project beginning in August of 2009 to test the validity of an RFID solution. The pilot involved tagging of about 60,000 items for the second seasonal collection, and convinced the company to move forward with tagging all items.
