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Retail Technology Review – Not long ago, I read a Holiday news story by ABC news. It spoke of the preparation of an M. C. Penney store for a given day after Thanksgiving. The report, in that case, followed the store manager by his daily duties for the big-selling “black” Friday. In Retail Technology for more than 18 years, this story triggered many thoughts.
The store professionals and employees are the “real heroes” of retailing, in addition to retail technology. This is where often the rubber meets the road! They execute the most beneficial they can with the technology applications we give them. If they forget to complete, the entire team doesn’t work. Forget that.
Retail Technology Review – Team malfunction is not an option! These retail management are groomed to “think” on their feet and jot down solutions quickly and decisively, just like a commander in charge of a new battle! If an SKU is out with friends…. and a display looks unfilled… fill it with a different one. Make sure associates are indicating the e-commerce site or perhaps catalog.
They assist the consumer personally in making the obtain through another channel, of course personally, on the busiest day time of the year! The store supervisor himself is busy making sure this is happening throughout the retail outlet, leading by example!
Retail Technology Review – In this particular story, the supervisor talks about “outs by SKU”. Technology needs to help the stores and other channels by capturing “specifically” how much revenue was missed on the whitened men’s size XL make fun of neck men’s long drivepipe shirt. The industry needs “intelligent systems” that tell us what was missed in shed sales, based on the sales and percentages of similar SKUs in that style that was inside stock, and % to try and do ratios.
If we ran out from the SKU at 8: ’07 am, we need to know how several we could have sold, not only when necessary we ran out… nevertheless, for the time, we sat together with zero OH. We shift this “missed sale” variety not only for this SKU, although every SKU of neglected sales in every store, to a tool we use to get merchandise and financial planning next year. This will add valuation to the store, Company, investors, and of course, the loyal shoppers.
Retail Technology Review – This is basic stuff, tends to be enabling our customers, store managers, and consumers? I want to take this possibility to thank some of the “old-time” J. C. Penney supervisors whom I have worked regarding and with over the years. These guys will be the “Lombardi’s” of Retail. They will always earn and grow the Company getting into the “basic blocking and also tackling” without much help coming from technology.
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