Attention, Wireless Cellular Dealers, Convenience Stores, Supermarkets, Drug Stores, Office Super Stores, Gas Stations, and Discount Stores. Tips for Retailers to Maintain Success and Keep Customers Happy
Retailers should focus on the following five areas to stay successful in 2007 and beyond.
1. Fulfillment – Retailers have a number of channels to manage as customers have their pick of buying at the store. Today, traditional order management systems are not able to fulfill orders through the mixed modes of modern retailing. Such systems operate independent of each other and do not communicate effectively with inventory tracking systems. Lack of a strategic and flexible fulfillment strategy can create supply chain bottlenecks, late shipments and customer complaints. There are order management solutions available that can enable retailers to manage multiple order fulfillment channels, dynamically source and allocate supply and increase visibility into global inventory to deliver customer orders quickly and efficiently.
2. Global Inventory Visibility – Retailers not only need global inventory visibility, but also a broad view of the different channels customers use so information can flow seamlessly to enable better buys, a consistent message and improved vendor relations. Global inventory visibility allows retailers to drive more business by using strategic business plans that help ensure the best merchandising decisions are made.
3. Inventory Optimization – Customer demand is always changing and retailers need solutions that can help them adapt. A key challenge for retailers is optimally managing inventory as one central pool and at the same time planning and forecasting demand based on the unique needs of each individual channel—where metrics, attributes and structure vary significantly. By utilizing solutions that support these unique needs, retailers can increase profitability across the entire enterprise and provide a consistent message to keep their consumers happy.
4. Complex Order Management – Success for a retailer comes from a fully integrated, complex order management solution that addresses all customer channels, including stores, eCommerce, call centers, B2B, etc. End customers are demanding greater product choice, multiple delivery options, consistent brand representation and most of all, excellent customer services for wherever and whenever they want to shop. For retailers to effectively retain their customers and compete from a service and cost perspective, they need seamless order management capabilities that streamline processes to deliver value to customers.
5. Merchandise Planning – Retailers must be strategic and drive their business through thoughtful planning of financial, operating, assortment, demand and promotions for each channel. Support of a consumer-centric merchandising strategy integrates these processes, allowing retailers to make better decisions based on consumer demand signals. Better management between planning and execution increases business efficiencies, boosts customer satisfaction and keeps customers coming back.
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