Cross-Functional Collaboration: How Retailers Can Uncover Hidden Profit
How Retailers Can Uncover Hidden Profit
Mid-sized and large retailers can add millions of dollars to their bottom line by improving communication and collaboration among functional areas such as merchandising, marketing, loss prevention, supply chain, and regional and store operations. Although retailers have implemented numerous applications that enable improved efficiency in one functional area, these “siloed” applications don’t do as well at improving efficiencies and collaboration among two or more functional areas.
A billion dollar retailer could drive a positive impact of millions of dollars by:
Improving planogram compliance by 20 percent − it could generate $10 million in additional sales
Ensuring consistent in-store execution of marketing strategy − it could generate $50 million in incremental sales