The document discusses 5 ways that retail CEOs can increase corporate profits through strategic information management. It outlines initiatives to 1) speed time to market for new products, 2) reduce costly product returns, 3) optimize inaccurate inventory levels, 4) streamline the expensive supplier onboarding process, and 5) improve up-sell and cross-sell conversions. A strategic information management platform provides a single source of product truth across systems to enable these initiatives.
Business Intelligence for FMCG BusinessLi Ken Chong
Empower the FMCG business with data framework to consolidate Modern Trade & General Trade business information into a single repository for performance review around sales, distribution channel, inventory efficiency and many more KPI driven analysis.
Retailers today are faced with unprecedented challenges ranging from shifting retail formats, overabundance of consumer choice, fast-changing technology, greater focus on quality and price to a tough economic climate. The result is that those who are not constantly innovating run the risk of falling behind. This white paper looks at the top five supply chain challenges that retailers face today and maps out a series of strategies to address these challenges based on research and direct experience in supporting retailers to maintain a competitive advantage in a highly competitive market.
Accenture: Commercial analytics insights CPG Companies 27-7-12 Brian Crotty
A fully integrated analytics operating model can help consumer packaged goods (CPG) companies focus commercial analytics resources on high-value processes to grow market share and sustain profit margins.
Market and economic uncertainty is making it difficult for CPG companies to achieve sustainable growth. Value-driven consumers are more demanding than ever before, and retailers are increasingly pushing private labels and looking for ways to control the consumer relationship. Additionally, “big data” has left many marketing and sales organizations with an information overload, yielding little insight into how to win consumer loyalty. This uncertain environment requires CPG companies to make faster, better-informed commercial decisions and take concrete action to improve market performance.
In this point of view, Accenture outlines an approach that can help CPG companies improve their commercial analytics capability to generate significant value.
June 27, 2012
Many businesses automate AP first, focusing on fixing problems that arise from inefficient processes, such as heavy paper invoice volume and frequent late payments.
Business Intelligence for FMCG BusinessLi Ken Chong
Empower the FMCG business with data framework to consolidate Modern Trade & General Trade business information into a single repository for performance review around sales, distribution channel, inventory efficiency and many more KPI driven analysis.
Retailers today are faced with unprecedented challenges ranging from shifting retail formats, overabundance of consumer choice, fast-changing technology, greater focus on quality and price to a tough economic climate. The result is that those who are not constantly innovating run the risk of falling behind. This white paper looks at the top five supply chain challenges that retailers face today and maps out a series of strategies to address these challenges based on research and direct experience in supporting retailers to maintain a competitive advantage in a highly competitive market.
Accenture: Commercial analytics insights CPG Companies 27-7-12 Brian Crotty
A fully integrated analytics operating model can help consumer packaged goods (CPG) companies focus commercial analytics resources on high-value processes to grow market share and sustain profit margins.
Market and economic uncertainty is making it difficult for CPG companies to achieve sustainable growth. Value-driven consumers are more demanding than ever before, and retailers are increasingly pushing private labels and looking for ways to control the consumer relationship. Additionally, “big data” has left many marketing and sales organizations with an information overload, yielding little insight into how to win consumer loyalty. This uncertain environment requires CPG companies to make faster, better-informed commercial decisions and take concrete action to improve market performance.
In this point of view, Accenture outlines an approach that can help CPG companies improve their commercial analytics capability to generate significant value.
June 27, 2012
Many businesses automate AP first, focusing on fixing problems that arise from inefficient processes, such as heavy paper invoice volume and frequent late payments.
Business Intelligence (BI) in Pharmaceuticals - An aid in informed decision making
Currently, the demand for BI solutions is largely driven by MNCs & large enterprises. BI solutions seem to have gained more acceptance and significance in pharma industry where time plays a pivotal role in the future of the company. The article from Modern Pharmaceuticals, reviews the importance of BI solutions to the
Indian pharma industry.
- Sanjay Mehta, CEO, MAIA Intelligence Pvt. Ltd.
Predictive Analytics in Retail - Visual Infographic Reportc24ltd
A visual infographic report about Predictive Analytics in Retail, based on our whitepaper "Predictive Analytics in Retail" (link: https://blog.c24.co.uk/2016/08/17/c24-publishes-new-predictive-analytics-whitepaper/).
We explore the ways in which Predictive Analytics is set to change how retailers make use of big data, analytics and insights across their customers, supply chain and stores.
By centralizing and integrating product information management with ERP and shop floor execution systems, footwear companies can more effectively deliver a consistent customer experience across channels and accelerate time to market.
Spend Analytics in the Mid-Market: The Real Story Mark Usher
This research report presents the results of a study conducted by SpendWorx to investigate issues faced by mid-market companies in the area of spend analytics and current trends being taken by mid-market companies to improve their spend visibility and reporting capabilities.
Today merchandising and promoting retail products on and offline is more difficult than ever. Leveraging artificial intelligence powered algorithms and machine learning tools, it is possible for marketers to gain an edge in product merchandising, organic and paid promotion. Whether you are in consumable products, packaged goods, healthcare, beauty, cosmetics, supplements, alcohol, cannabis or even fast fashion, Simplex's tools can help to drive advantage and increase sales.
Business Intelligence (BI) in Pharmaceuticals - An aid in informed decision making
Currently, the demand for BI solutions is largely driven by MNCs & large enterprises. BI solutions seem to have gained more acceptance and significance in pharma industry where time plays a pivotal role in the future of the company. The article from Modern Pharmaceuticals, reviews the importance of BI solutions to the
Indian pharma industry.
- Sanjay Mehta, CEO, MAIA Intelligence Pvt. Ltd.
Predictive Analytics in Retail - Visual Infographic Reportc24ltd
A visual infographic report about Predictive Analytics in Retail, based on our whitepaper "Predictive Analytics in Retail" (link: https://blog.c24.co.uk/2016/08/17/c24-publishes-new-predictive-analytics-whitepaper/).
We explore the ways in which Predictive Analytics is set to change how retailers make use of big data, analytics and insights across their customers, supply chain and stores.
By centralizing and integrating product information management with ERP and shop floor execution systems, footwear companies can more effectively deliver a consistent customer experience across channels and accelerate time to market.
Spend Analytics in the Mid-Market: The Real Story Mark Usher
This research report presents the results of a study conducted by SpendWorx to investigate issues faced by mid-market companies in the area of spend analytics and current trends being taken by mid-market companies to improve their spend visibility and reporting capabilities.
Today merchandising and promoting retail products on and offline is more difficult than ever. Leveraging artificial intelligence powered algorithms and machine learning tools, it is possible for marketers to gain an edge in product merchandising, organic and paid promotion. Whether you are in consumable products, packaged goods, healthcare, beauty, cosmetics, supplements, alcohol, cannabis or even fast fashion, Simplex's tools can help to drive advantage and increase sales.
программа семинара для топ менеджеров 10 14Efim Aldoukhov
ПРОГРАММА СЕМИНАРА ДЛЯ ТОП-МЕНЕДЖЕРОВ И АКЦИОНЕРОВ СРЕДНЕГО И КРУПНОГО РОЗНИЧНОГО И B2B БИЗНЕСА
«КАК ЗАПУСТИТЬ E-COMMERCE (ИНТЕРНЕТ МАГАЗИН) И ИМ УСПЕШНО УПРАВЛЯТЬ. ТРЕНДЫ, СОТРУДНИКИ, KPI, МОДЕЛИ И ОСОБЕННОСТИ УПРАВЛЕНИЯ.»
This presentation is from the Performance Marketing Summit (May 15, 2016 in Chicago). Session description: Recruiting affiliates mainly from networks? If yes, you are missing out. Learn non-traditional recruitment methods and tools as well as proven on-boarding methods to create your next super affiliate.
This presentation is from the Performance Marketing Summit (May 15, 2016 in Chicago). Session description: Merchant programs need to support a brand’s audience and overall direction. In 4 steps, you will be able to create a stand out program while providing Affiliates with on-brand promotional tools!
This presentation is from the Performance Marketing Summit (May 15, 2016 in Chicago). Session description: This session will walk through how to measure the engagement on your pages and maximize your revenue through data, not guesswork.
This presentation is from the Performance Marketing Summit (May 15, 2016 in Chicago). Session description: The one constant in Internet platforms & search engines is that nothing is ever constant. Organizations need to sense & understand these risks to value & utilize your expertise. We’ll explore how!
Наши или западные CPA. Что и когда выгодней и как зарабатывать больше - Алекс...kinzapro
«Наши или западные CPA. Что и когда выгодней и как зарабатывать больше» - Александр Савченков
— Новые тренды и взаимоотношения наших и западных сетей
— Мобильные офферы: гео и кросс-устройства
— Веб-ретаргетинг и email-ретаргетинг
— Повышаем прибыль - какие нужны инструменты
Improving the Affiliate/Affiliate Manager RelationshipAffiliate Summit
This session will help affiliates learn how to get the most out of their AMs and help AMs learn how they can get the most out of their affiliates and make it a mutually beneficial relationship.
Experience level: Intermediate
Target audience: Merchants/Advertisers
Niche/vertical: Affiliate
Todd Farmer, CEO, PerformStreet Media (Twitter @toddfarmer) (Moderator)
Jamie Birch, CEO, JEBCommerce, LLC (Twitter @jamieebirch)
Jason Rubacky, Affiliate Development Manager, ShareASale (Twitter @jasonrubacky)
Joe Sousa, Owner, Internet Marketing Associates (Twitter @drcool73)
Logan Thompson, Owner, Blink Source (Twitter @drumminlogan)
This presentation is from the Performance Marketing Summit (May 15, 2016 in Chicago). Session description: Niche blogs cater to a very specific audience, and come with their own set of hurdles and benefits. Explore the challenges and payoffs of working with a niche blog, and the advantages of being one of these small lions with a big roar.
Consumer Insights: Finding and Guarding the Treasure TroveCapgemini
Consumer Product (CP) companies operate in an industry where the fundamental rules of the game are changing. The growth of e-commerce, the ability to bypass retailers, the rise of private labels, and the advent of niche CP startups are just some of the trends that are reshaping the sector.
But one significant change that stands out in particular is the direct connection that CP companies today have to the needs and aspirations – the ‘pulse’ – of consumers. This is, to a large extent, thanks to the rise of digital channels.
Are you tired of dealing with data errors, inconsistency, and the ever-changing landscape of products? From data entry errors to the ever-changing nature of products and market demands, catalog management can become a complex and resource-intensive task. Learn how to conquer the most common catalog management challenges. In this ebook, we delve into the critical aspects of Product Catalog Management, exploring its immense significance, the myriad challenges it presents, and the transformative.
Ventana Research Mastering Product Information is Everyone's BusinessMark Smith
Product information management (PIM) is a simple concept: It is the management of an organization’s product information in established formats and standards using processes, information and technology. Its goal is to have product information that is consistent and accurate regardless of where it is stored or used. But it can be challenging to execute effectively.
With increasing customer expectations and the complexity introduced by omni-channel, progressive retailers and manufacturers have realized the need to become more customer-centric, insight-powered and digitally empowered organizations. They can step it up further and improve sales performance by working together as collaborative partners in their digital journey.
The world of B2B marketing has changed dramatically with the advent of internet and the increased connectivity in today's world. Traditional marketing methods are getting increasingly ineffective as buyers become more informed and highly aware of the products or solutions they need.
This eBook will allow retail business and IT managers to understand, which are the key elements that must be considered in retailers' path to become omnichannel champions. Find out which are the most critical omnichannel capabilities to develop as well as its strategy and roadmap for the implementation plan.
In today’s dynamic digital commerce landscape, the ability to effectively manage and distribute product data across multiple channels is crucial for businesses to succeed. This ebook will guide you through the process of transforming your product data syndication strategy and harnessing the power of automation to drive business growth.
Inside this Issue
1. Crafting a Digital Strategy: A Primer for Indian Pharma by Manish Bajaj
Steps and mantras for digital transformation of the pharma organization
2. Effective Management begins with Role Clarity by K. Hariram
Role clarity and the importance of coaching for successful frontline management
3. Digital Transformation in Pharma Begins with a Mindset Change by Sandeep Narula
The biggest challenge is not technology adoption but mindset change
4. Who Moved my Visual Aid? by Vivek Hattangadi
A story of how digital technology made the Visual Aid obsolete – inspired by Dr. Spencer Johnson. Download here.
5. AIOCD Market Highlights by Ameesh Masurekar
Market highlights for the month of January 2018
The Power of Clienteling Raymark Case StudyRaymark
The following benefits were achieved within the first 90 days of the project:
• After a comprehensive cultural change management and training program, 95% of the associates were consistently using the system and successfully completing their pro-active selling tasks.
• Migration of all users from manual client books to the new system in alignment with PCI directives.
• A 1000%+ increase in the number of outbound e-mails and calls to prospective customers by sales associates.
• A 9% Increase in total sales revenue by associate over a period when new customer acquisitions were down 12%.
• Number of repeat customers increased by 33%.
• A 21% increase in average spend per transaction over 3 months with customers that were “clienteled.”
... and more!
Презентация Александра Михайлова, руководителя проекта автоматизации FoodBand.ru, с Бизнес-завтрака UPGRADE 25|01|2017 "Новые форматы доставки с использованием краудсорсинга"
Результаты экспертного опроса ecommerce-рынкаEfim Aldoukhov
Презентация отчета по проведенному опросу ecommerce-рынка о Трендах на 2017 год с Бизнес-завтрака 08.12.2017 UPGRADE "Тренды Ecommerce 2017. Итоги 2016"
Зачем мы измеряем NPS и как это помогает улучшить клиентский сервис
Ceo+5+reasons+white+paper+rgb
1. The Strategic Information Management Company ™
W H I T E P A P E R
5 Ways Retail CEOs Can
Increase Corporate Profits
in Today’s Economy
AUGUST 2011
RETAIL
2. 2
Retailers today face an intensely competitive marketplace with unprecedented challenges and opportunities. With the
emergence of a greater variety of retail channels, an abundance of product options and easy online price comparisons,
consumers now demand greater service and lower prices.
The ability to ensure that the right product is available at the right place and at the right time is absolutely critical. Merchants
that can react faster tend to come out on top.
Harnessing Operational Information
As retailers begin to operate 24/7 through a growing number of sales channels, their volume of strategic business information
rises exponentially in both size and complexity. In turn, increasing the difficulty to manage product, supplier and consumer
information successfully.
This influx of strategic information must be proactively managed as it flows across organizational channels. In fact, the ability
to leverage operational knowledge as a performance success tool is key to increasing business profitability, mitigating risks,
enhancing agility and enabling better decision making.
Unfortunately in most retail organizations, operational information is typically siloed. It resides and evolves independently in
multiple applications, point of sale solutions and spreadsheets where it cannot flow efficiently. An alarming number of critical
business decisions are based on information that is most often inaccurate or incomplete.
Traditional Efforts to Combat the Challenge
Many retailers are turning to their ERP system vendors hoping for a quick, cost effective solution to manage the increased
volume of information. However, these retailers are discovering that major ERP suite vendors lack the ability to manage every
business unit’s strategic information as it flows across internal and external channels.
In order to emerge as stronger competitors when the economy recovers, senior executives must take an immediate, direct
approach to solve their multichannel strategic information challenges. That’s what Stibo Systems, the Strategic Information
Management Company, is all about.
Strategic Information Management
Strategic management information is not just a technology, it’s an organized philosophy and process. This new strategy
focuses on using a full-cycle approach to integrating business units, vendors, product information and other critical
informational assets into one repository.
Strategic information management does not represent an incremental change in function or process. Instead, it is a much
more comprehensive and an integrated approach to managing operational information as it flows through the business.
As the retail environment becomes increasingly challenging, a number of leading retailers are adopting strategic information
management technology and processes to drive the following key initiatives:
#1: Speeding time to market
#2: Reducing product returns
#3: Optimizing inventory levels
#4: Streamlining the on-boarding process
#5: Improving up-sell/cross-sell conversions
This white paper provides an executive perspective on how retail CEOs can increase corporate profitability through these five
strategic information management enabled efforts.
3. 3
Initiative #1: Speeding Time to Market
Reducing the time it takes to introduce new products has become a top priority for retail executives. By speeding time
to market, retailers can generate revenue earlier, increase margins and establish a sustainable competitive advantage. In
fact, studies have shown that high-performing companies on average generate 61 percent of their sales from successful
introductions of new products and services. Furthermore, companies that experience an 80 percent revenue growth from new
products typically double their market capitalization in a five-year period.i
The process of developing and introducing a new product can be inherently complex. Even the simplest products today can
have hundreds of attributes, all derived from multiple systems that reside both within and outside the organization. Introducing
a new product also requires the coordinated efforts of dozens of individuals within the company—not to mention multiple,
geographically dispersed external partners and suppliers.
A strategic information management platform enables retailers to streamline the process of gathering all product data from its
suppliers and partners. It cleanses and manages that data centrally, allows for branding and versioning of the information, and
feeds all business systems needed to consume that data.
As a result, the business can share more accurate information with its websites, eCommerce applications, printed media,
kiosks, POS systems, sales training materials, customer service applications, and other channels with more speed, reliability and
security. This can ensure that all sales channels have the information they need to educate customers and sell products faster
and a higher return.
Initiative #2: Reducing Product Returns
Product returns represent one of the most overlooked and significant causes for profit and margin reductions. In fact, product
returns involve so many steps and have such a far-reaching impact on every area of the business that their total annual costs
now affect 2 to 3 percent of an average retailer’s sales.ii And this doesn’t begin to address the significant impact on customer
loyalty. Recent studies have shown that 25 percent of consumers who return a product are unlikely to buy that brand again.iii
A number of recent studies, including an analysis by Accenture, discovered that most returned products do not have a defect.
In many conclusions reached, a product was returned due to false or insufficient product information. These inconsistencies
lead to consumer dissatisfaction and frustration.
Having a strategic information management process in place can reduce product returns by managing correct product
information across the supply chain.
Initiative #3: Optimizing Inventory Levels
Inventory accuracy is a staggering problem that leads to costly challenges for retailers. Studies have found that retailers
generally have accurate inventory information on only 35 percent of their items. Research has shown that 47 percent of out-of-
stock items with poor forecasts, resulting in inconsistent, inaccurate and incomplete data in supply chain, merchandising and
inventory systems.
A strategic information management platform allows retailers to centrally manage all of its product operational information.
The platform automatically feeds each consuming system, sales channel and business process individually. This approach
provides retailers with a single, consistent view of product information without forcing business units and suppliers to use the
same system or data format.
Having optimized inventory levels starts with having one version of the truth across all divisions, departments and channels.
Only then can the merchant ensure it has the right products, at the right levels and in the best locations.
4. 4
Initiative #4: Streamlining the On-Boarding Process
There are two common obstacles retailers face when delivering products to market. First is acquiring the product information
from suppliers and ensuring such information is correct. The second is supplying said information across multiple channels to
support selling of the product.
This on-boarding process is often cumbersome, error prone and time consuming. This results in manual involvement to
correct the information thus creating a costly and vicious cycle.
AMR Research recently concluded that companies could potentially reduce their supplier management costs by nearly 85
percent just by improving information visibility with suppliers. For a merchant managing hundreds of vendors and tens of
thousands of products, the efficiency costs alone are staggering.
In fact, after implementing a strategic information management solution, a major global retailer was able to reduce its
average on-boarding costs from more than $200 per item to less than $3 per item. Considering the tens of thousands of SKUs
this retailer introduces every year, this cost savings alone can have a significant impact on business performance and
competitive advantage.
Initiative #5: Improving Up-Sell and Cross-Sell Conversions
By taking a holistic, full-cycle approach to managing product information, retailers have an opportunity to improve cross-sell
and up-sell conversions. When the business has greater operational control over product information then sales and customer
service representatives have more timely and relevant information at the point of sale. Online channels can also provide
more relevant product links, recommend complementary or similar products, and improve product categorization for easier
browsing and increased sales conversions.
Additionally, this level of information flow and control helps support an improved cross-channel experience. Customers
today want to use their smart phones to check local inventory. They want to research and compare products online, and
receive detailed and accurate answers about an item they saw in the company’s latest catalog or website before making
a trip to the store.
If product information is not being strategically managed as it flows through the business, the retailer cannot possibly meet
these growing customer expectations.
Operational Knowledge as a Performance Improvement Tool
Over the last two decades, businesses have worked feverishly to optimize their physical supply chains. Virtually every discussion
about improving the supply chain has been centered around the flow of products from raw materials to consumption.
However, a growing number of companies are now taking a similar interest in optimizing the flow and management of the
information related to these products. In a highly competitive global economy where information is now a core enabler, using
business operational knowledge as a performance success tool is paramount.
Retailers that have integrated this information into one management platform are completely changing the playing field in
their respective industry. They’re improving profitability while breathing new life into businesses caught in a downward spiral of
reduced discretionary spending, higher customer expectations and tougher market competition.