Retail Planning and Retail Operations
Because consumers have many options available — choices in retailers, products, channels, fulfilment, prices — merchants face a stream of moving parts to drive customer loyalty and financial results across their product assortment
Today, retailers are facing more complicated problems, and their conventional service models are not adequate anymore to solve these problems. Factors such as intense competition, global economic developments, variability of consumers’ demographical structure, and growing alternatives for customers are leading to an increase in volatility and vulnerability within the retail sector. Therefore, it is necessary for retailers to change their competitive strategies in order to progress and move forward as a company and a brand.
Deloitte’s Precision Retailing method is helpful in providing answers to these questions: “How can we improve the profitability of our stores?”; “How can we manage the product portfolio and increasing complexity of the procurement process?” and “How can we provide the same experience to all of our customers in all of our sales channels?”
Today, consumers typically demand more value, better service, greater convenience, and the best price for everyday products; they also want to see more options and higher quality for niche products. Moreover, they want to satisfy their different needs with cross-selling options. This situation forces retailer to revise their communication strategies in order to reach consumers.
Finding themselves under unprecedented pressure to differentiate themselves from all sides, retailers are struggling to make the right products available in the right place and at the right time. They are also trying to cope with the following concerns about retail planning and retail operation management:
- With an increasing number of stores and products, how can we overcome the increasing complexity and inefficiencies related to merchandise planning and retail operations?
- What should we do to improve our inventory, discount, and profitability performance?
- Considering local customer requirements and demands, how can we customize our assortment’s depth and breadth?
- How can we sustain product category and collection consistency across different channels and stores?
- How can we determine the optimum number of options and SKUs which are available on the shelves so as to avoid a loss in sales?
- How can we balance inventory between warehouses and stores?
- Collection and Calendar Management
- Strategic Planning
- Merchandise Financial Planning
- Channel/Store Planning
- Assortment Planning
- Space Planning
- Store and Product Clustering
- Demand Forecasting
- Allocation and Replenishment Planning
- Store Transfers Management
- OTB and RPT Management
- Markdown and Promotion Management
- Product Performance Management