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Store Operations

 
Store Operations examines the issues and challenges facing today’s store operators. From workforce management to merchandising and new store openings, this section is designed to help retailers improve the bottom line while holding the line on costs. Subscribe to the feed and stay in touch with the latest retail happenings.

Effective Supplier Alliances: Q&A With CVS Caremark And The Neiman Marcus Group

  • Written by Lorna Pappas, Contributing Editor
 

This is Part 2 of the Retail TouchPoints series, titled: Retailer-Supplier Collaboration: The New Operational Imperative. Based on conversations with retailers, analysts and other industry experts, this 4-part feature examines the dominant trends, challenges, technologies and achievements now at the forefront of attaining full retailer-supplier collaboration. Part 3 of the Retail-Supplier Collaboration feature will appear in the February 26 newsletter. To access Part 1, click here.

 
analyze-design-etc-gearsCVS Caremark
and The Neiman Marcus Group are among the retailers aggressively pursuing strong retailer-supplier collaboration. RTP spoke with Ron Link, SVP of Logistics, CVS Caremark, and Jill Barron, VP, Supply Chain, The Neiman Marcus Group, to gain and share a better understanding of their collaboration views and successes.

Read more: Effective Supplier Alliances: Q&A With CVS Caremark And The Neiman Marcus Group

Retailer-Supplier Collaboration: New Rationale Justifies Investment

  • Written by Lorna Pappas, Contributing Editor

This is Part 1 of the Retail TouchPoints series, titled: Retailer-Supplier Collaboration: The New Operational Imperative. Based on conversations with retailers, analysts and other industry experts, this 4-part feature examines the dominant trends, challenges, technologies and achievements now at the forefront of attaining full retailer-supplier collaboration. Part 2 of the Retail-Supplier Collaboration feature will appear in the February 19 newsletter. 

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Today’s retail supply chain executives are moving more products farther and faster than ever before. They are pressured by consumers’ new-found empowerment over products and delivery, uncertain global economies and advances in globalization, localization, omnichannel retail and other demands ― all putting strain on the supply chain process. 

To combat today’s supply chain challenges, smart retailers are taking a more focused look at collaborating with their supplier partners. A successful retailer-supplier collaboration can help alleviate pressures along all key points in the supply system. A strong alliance can bring products to market faster, reduce production and logistics costs, drive market share, and increase sales, while maximizing ROI for both partners.

Read more: Retailer-Supplier Collaboration: New Rationale Justifies Investment

Competing Beyond Price To Maximize Customer Loyalty

  • Written by Alicia Fiorletta
 

Following is Part 3 of the Retail TouchPoints series focused on Pricing Challenges In An Omnichannel World. In this final installment, industry analysts discuss how retailers can maximize customer loyalty by providing enhanced services and benefits, not related to price. Click here to access a PDF version of the full report.

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The economy slowly is recovering, encouraging consumers to research and purchase products more frequently. However, today’s tech-savvy shoppers still are researching aggressively across channels and devices to find the best buy.

Mobile price comparison and other new ways shoppers are researching products have prompted retailers to implement new strategies, including price-matching models and more consistent pricing across channels — in an effort to attract price-conscious consumers.

While addressing pricing challenges, however, merchants must continue to address customer wants, needs and expectations, noted Greg Girard, Program Director of Merchandising and Marketing Strategies and Retail Analytics at IDC Retail Insights.

Read more: Competing Beyond Price To Maximize Customer Loyalty

Foodland Streamlines Staff Management With Traffic Counting

  • Written by Alicia Fiorletta

Foodland
Today’s time-starved consumers want to complete transactions quickly and seamlessly, especially in grocery stores, where shoppers are rushing to complete their lists and move to check out.

To ensure shoppers have a streamlined shopping experience free of long wait times, Foodland, a Hawaii-based grocery retailer, has implemented thermal-powered people counting and checkout management solutions from Irisys. Using these technologies, the retailer is empowered to pinpoint high-traffic times, leading to improved employee scheduling and more efficient checkout processes.

“Foodland is committed to delivering superior customer service that keeps our shoppers coming back,” said Robert Murphy, CIO of Foodland, in an interview with Retail TouchPoints. “We know the checkout experience can leave lasting impressions on our customers, particularly if it feels understaffed, time consuming and unorganized.”

Read more: Foodland Streamlines Staff Management With Traffic Counting

The Container Store Improves Financial Planning And Forecasting

  • Written by Alicia Fiorletta

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Manually collecting, updating and analyzing financial data has many retailers struggling with inefficient and costly planning processes. Best-in-class merchants such as The Container Store, however, are harnessing the power of the cloud to get real-time access to performance data, leading to more efficient and frequent budgeting and forecasting execution.

By leveraging cloud-based corporate performance management (CPM) solutions from Adaptive Planning, The Container Store successfully has eliminated the need for manual updates across cumbersome spreadsheets, and lowered costs. The move allows quarterly, as well as monthly forecasts, rather than annual reports. Moreover, the retailer has automated the entire CPM cycle, which includes the following phases: budgeting, reporting, analysis, and re-forecasting. In doing so, the retailer now is equipped to update financial reports and forecasts far more easily and get a comprehensive view of financial plans and forecasts, Michael Lambeth, Director of Finance for The Container Store, told Retail TouchPoints. 

Read more: The Container Store Improves Financial Planning And Forecasting

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