Part 1 of this blog series introduced Reflexis Systems, whose task execution solutions have helped over 110 retailers and their suppliers worldwide execute their strategies and increase profits. The article analyzed Reflexis’ genesis and evolution from a task management specialist to an integrated retail workforce management (WFM) platform provider.
Reflexis’ Retail Execution Management platform features labor budgeting/forecasting/scheduling, time and attendance (T&A), task management, and key performance indicator (KPI)/compliance solutions to enable retailers to align their store labor/activities to corporate goals and institutionalize best-practice responses to real-time metrics. As mentioned in Part 1, Reflexis’ customers, many of which are Top 250 global retailers, have reported improvements in store-level compliance with corporate strategies; higher productivity of merchandising, field, and store management; and increased sales and profitability. Read the rest of this entry »
My recent post (Software and Human) Help Wanted in Overwhelmed Retail Stores talked about how much attention (and IT investment) retailers pay to their merchandize planning and supply chain optimization processes as compared to their store-level task execution, even though this is where “the rubber meets the road.” I concluded my post with the fact that there are dozens of retail workforce management (WFM) vendors and solutions, but not many have the required store-level task management capabilities.
My recent series on Quantum Retail presented the many difficult merchandise range and assortment planning issues that retailers face, and the ensuing tough decisions that they have to continually make in that regard. But a lesser-known fact is that even though retailers spend multiple billions of dollars on planning activities and supporting tools to bring customers to their stores, they only execute at about 60 percent efficiency in their stores at best, thus leaving trillions of dollars in merchandise at risk. Read the rest of this entry »
Part 1 of this blog series analyzed typical issues that retailers face in their cutthroat competitive environment and concluded that traditionally available packaged retail enterprise applications are sub-optimal, provide only stovepipe views, and demand constant manual intervention by a highly sophisticated user. This is especially true in the case of handling ever-more difficult products and assortments (e.g., big ticket slow-moving items, sized merchandise, etc.).
The article then introduced Quantum Retail Technology, an up-and-coming company with a budding install base, who has an intriguing mission and value proposition for retailers that have to deal with a slew of tricky retail items. What follows now is my discussion with Chris Allan, Quantum’s chief strategy officer.
Every year-ending holiday season reminds us of the importance of consumer spending and the retail sector for the United States (US) and global economies. Many economists and pundits are then awaiting with trepidation the Black Friday sales outcome and reported consumer sentiment or Consumer Confidence Index (CCI) as bellwethers of the economy in the New Year.
While this past holiday season seems to have gone quite well for most retailers (especially in terms of their online business growth) according to a recent National Retail Federation (NRF) announcement, hardly any retailer can now relax and breathe a sigh of relief. Retailers are in a tough business and are constantly seeking tools to enable them to delicately balance their sales, inventory, and profit figures.