2017 has seen many retailers in a continual state of flux as they review internal processes, activities and IT structures in-order to drive efficiency and experience through consolidation, diversification and technology infrastructure. The key drivers of of the push towards click and collect and reserve; one hour delivery challange; and the refining of warehousing and fulilment and urgent need for single, real time visablity is driving retailers of all sizes to consider Cloud EPoS and retail management software
Commenting on the state of the market, Richard Lowe, Head of London, Barclays Corporate Banking said:
“The rising costs involved in providing an attractive and efficient omni-channel service is a growing threat that must be managed carefully. I see this as the biggest single issue for retailers at the moment”.
For anyone selling through more than one channel, a cross channel single inventory with real time data flow is now critical. Retailers who have not restructured their IT software platform to cater for this necessity, are now scrambling to plan and implement an omni-channel strategy. This enables a 360 degree transaction, product visibility and increases operational efficiency for greater profitability.
8 Elements to Successful Omni-fulfilment :
1. Anytime, anywhere delivery and collection – fast
2. Live cross channel visibility
3. Inventory and warehouse agility and
4. optimisation
5. Universal in-store and online digital aisles
6. Intelligent forecasting and suggestive purchase
7. ordering
8. Mobile strategy
Fulfilling The Multi-Channel Experience Profitably
The KPMG/Ipsos Retail Think Tank suggest that retailers will be further challenged to adapt business models and find new and better ways to serve customers.
Martin Newman, CEO of Practicology says: “Retailers will aim to deliver what we would describe as seamless multi-channel customer experience, where the shopper is supported and served irrespective of the mixture of channels they use.”
Fulfilling this omni-channel experience profitably cannot be done from systems and process designed for just one or two channels. This means there is likely to be more investment in technology, mobile fulfilment options and convenience for consumers in the future.
Rethinking the business and Retail IT model
An accurate and robust attribution of costs and value to a multi-channel retail business model can only be achieved by smashing of system silos though a single, intelligence based platform that is available in real time at any point, anywhere and always delivers a single and accurate view.
Everything from warehousing, merchandising, through to fulfilment processes and channel distribution must be driven by profit and efficiency. Through new real time, streamlined cloud retail management platforms an unparalleled amount of intelligent and intuitive automation, optimisation and personalisation can be achieved.
To allow the flow of business data and process across so many divergent departments and businesses a common thread is required. How you identify, capture and share your product, logistical and transaction data is key.
3 Things Data must be:
1. Real time and ubiquitous
2. Scalable, secure and stable
3. Fluid, accessible and accurate
Delivery can make or break an entire experience for customers, yet it’s the part of the supply chain retailers have the least control over. What are you doing?
Why not download the FREE REPORT “Retail Reinvented: Market Insights 2017” ? CLICK HERE
Extensive UK retail market research into the trends, opinions and facts on the changing retailing landscape, multi-channel demands, omni-channel experiences, click and collect fulfillment, cloud epos and retail management software
Rachel is passionate about retail and the ever-changing retail technology environment, with a keen eye for upcoming retail trends that are set to shake up the sector.
