Retail Store Success – Leveraging Cloud Based Technology

The Client

Our client, a company headquartered in Trinidad and Tobago is in the home goods retail industry. The company is a new start-up engaged in the distribution and sale of international brands of home goods. The Founder recognizing that the company wanted to adopt global best practices for retail, decided to ask for our help to help achieve this strategic intent.

The Problem

Retail stores often rely heavily on human and paper driven execution of processes and management related to for example, inventory, sales, customer relationship management and employee management. This creates a manual problem for management of the value chain which is exasperated especially for new start-ups, which want to keep costs low and focus on growing quickly. The main problem with such paper-based manual system includes human errors, lengthy processing and slow inefficient processes with a lack of management visibility, especially with core value chain activities such as inventory management and sales. Manual-based processes can indeed be time consuming and inefficient.

 

Our Solution

We quickly recognized that to adopt a differentiation strategic impetus, the company had to set itself apart from competitors in the industry. We immediately proposed utilizing a very low-cost cloud-based retail software solution that allowed the company to achieve the following:

  • Record data electronically of all aspects of the new startup processes to include sales and inventory.
  • Utilize bar coding to track and manage in store and warehouse inventory items.
  • Scan and checkout items anywhere in the store with customers directly, not just at one central location, usually at the back of the store, reducing the time it would take to get a customer in and out of the store and record a sale.
  • Track inventory levels in real time, triggering re-order rules.
  • Record and manage employees work hours and wages in real time.
  • Integrate data with financial management software easily allowing for the production of real time financial statements.
  • Perform analysis for sales forecasting and inventory turnover.
  • Produce daily sales and inventory reports for reconciliation.
  • Reach customers directly through digital marketing and customer relationship management services.
  • Save on paper.
  • Delight customers.

Our solution has laid the foundation for the firm’s entry into a crowded retail market but by doing it right the first time, has saved the company much needed time to scale into e-Commerce as well as other contemporary solutions such as social media sales that can support its growth agenda. As a first right step, utilizing low-cost software solutions not only saves money, but ensures processes are setup right the first time around. What this meant was data is being inputted into software from the start.

Our solution took into account the company “as is” requirements and where it wanted to be in the future. We looked at the people, process, technology, and data needs. We then identified and prioritized a super affordable software solution and managed the implementation, training and handoff to internal operations of the solution for the business end users. We then drove the initiative to generate increased shareholder and stakeholder value.

The Results

By taking such a strategic digital technology approach, blending human with technology capabilities, our client kickstarted their new startup efforts for effective results, getting it right the first time. This would allow them to grow and scale their operations effectively.

Our hands-on approach has always been different from typical management consulting companies, who may just recommend what has to be done. We actually get the job done. We enable and empower our clients to achieve the leap that is scalable and sustainable by executing on what we propose as a solution to actually doing it.

The results of these efforts are we create exceptional value. The implemented solution automates and change the way things are done internally for the company such as printing of bar codes for product items, receiving inventory quickly by using hand held scanners to receive ordered items, selling, easily checking out customers anywhere in the store directly, sending customers their electronic bills directly to their emails which can be shareable on social media and connecting with customers directly advertising to them sales promotions and in-store events.

This essentially means we have transformed the people and operating processes by using and leveraging technology. Employees build upon newly acquired digital skills that has changed the way they work and shifted old paradigms to a new operating model. This has led to an agile way of working for our client which is sustainable. Coupled with the value from having a digital empowered workforce, management can now make decisions based on data and insights from analysis, such as forecasting of the next month retail sales and ordering what has been depleted in inventory in real time, a stark difference from having employees having to comb through paper to produce reports which would have taken extensive work hours and time.

The overarching result has been fast and simplified processes and decision making. This sets up the use of the right KPIs to monitor progress toward strategic outcomes. This allowed our client to create value quickly and delight their customers while demonstrating how digital technologies can improve their ways of working and customer interactions with the business from the very start. The result of infusing new cloud-based solutions has also setup a foundation upon which the business can leapfrog into other opportunities such as e-Commerce and social media sales, which can enhance and spur new competitive advantages. The future looks bright for our client who trusted us to get it done.

The Testimonial

The founder of the company has provided a few words as a testament to the success of their business launch as a direct result of our efforts:

“Wilson delivered to us a solution in a quick time from my initial brief to him, allowing us to launch successfully in one month. Without Wilson’s expertise, we would have relied on the old way of doing things but through his efforts we have saved tremendously on costs as a new business getting off the ground. The implemented solution has added tremendous value to my business. I recommend him without reservation.”

This is just one of our retail service projects, we help numerous companies develop robust management systems that can help them grow and flourish. We show them how to bring their business and technology together, at a reasonable cost and how to lead this transformation across every part of their value chain. If you have a project in mind or a similar need, please reach out to us, we would be glad to help.

Location:
Trinidad and Tobago
Year:
2021
Industry:
Sales & Distribution
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