Situation:

‍Tiffany & Co., a global luxury retailer renowned for its high design standards, faced a significant challenge in maintaining consistency across its core and flagship stores worldwide. With projects ranging from new store developments to renovations, the company struggled with a manual workflow that involved Excel sheets, PDF product catalogs, email approvals, and numerous team meetings. This disjointed process made it challenging to share, control, and approve crucial data efficiently.

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Challenge:

‍The challenges Tiffany & Co. encountered were multifaceted. Their manual workflow led to communication gaps, approval delays, and discrepancies between renderings and actual specifications. These discrepancies, unfortunately, resulted in incorrect orders and, notably, impacted the facades of 12 core stores. The subsequent revisions incurred substantial costs, with the replacement of carpets alone amounting to $500k. The lack of a centralized tool to track and consolidate FF&E specifications across projects led to higher costs per item. This also hindered their ability to negotiate bulk order contracts effectively. Project timelines suffered, resulting in delayed store openings and costly revisions against supplier lead times.

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Solution - Why Fohlio:

‍To solve their challenges, Tiffany & Co. sought a platform that could offer greater visibility across procurement and design teams, reduce manual errors, enforce brand standards, and streamline communication. Fohlio emerged as the ideal choice.

• Timeline Risks & Lost Sales: Fohlio provided a centralized platform, reducing project timeline risks and minimizing lost sales opportunities due to delayed store openings.
• Response Time to Supply Chain Disruptions: The platform enabled swift responses to supply chain disruptions by consolidating and organizing FF&E specifications, allowing for efficient decision-making.
• Revision Impacts to Project Budgets: Fohlio's comprehensive tracking capabilities ensured that revisions were accurately documented, reducing unforeseen impacts on project budgets.
• Hours Spent Against Other Deliverables: With Fohlio's streamlined workflow, the hours spent on manual documentation, communication, and revisions were significantly reduced, allowing teams to focus on other critical deliverables.

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Features and Benefits:

‍Fohlio's features catered to Tiffany's specific needs:

• Centralized Collaboration: A single platform for all stakeholders to collaborate in real-time, eliminating the need for multiple tools and meetings.
• Automated Approval Workflows: Fohlio's automated approval workflows reduced the time spent on manual approvals, ensuring a smoother and faster decision-making process.
• Specification Management: The platform allowed for meticulous management of FF&E specifications, ensuring accurate information and minimizing errors in orders.
• Bulk Order Negotiation: Fohlio facilitated the consolidation of specifications across projects, empowering Tiffanys to negotiate favorable bulk order contracts, reducing costs.

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Result:

‍Through the implementation of Fohlio, Tiffany & Co. achieved tangible and quantifiable results:

• Money Saved: The reduction in timeline risks, response time to disruptions, and impacts on project budgets resulted in substantial cost savings, with an estimated $2 million saved across 12 locations.
• Efficiency Gains: The streamlined workflow led to a 30% reduction in hours spent on documentation and communication, allowing teams to allocate time more efficiently.
• Brand Consistency: Fohlio's enforcement of brand standards ensured consistent high design value across all Tiffany locations.

In conclusion, the adoption of Fohlio empowered Tiffany & Co. to overcome their challenges, saving both time and money while maintaining the high design standards synonymous with their brand.

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