Retail Management fundamentals and concepts

RETAIL MANAGEMENT FUNDAMENTALS AND CONCEPTS

The retail world is one of constant change – and if you don’t adapt, you can’t succeed. Intense consumer demand can pressure you to rapidly grow product lines and improve organizational capabilities. You need an intuitive and flexible collaboration tool to support your processes and ability to follow the market and meeting customer needs.

To bring your products to market as quickly as possible and to meet the expectations of your retail customers, you rely on both flexibility and control. Also, you can track project status, tasks and deadlines and discover deviations early.

Development of a business concept for an integrated investment and financial planning with clear:

  • Substantial saving from financing costs and opportunity costs…
  • Potential from standardization and improved management…
  • Creation of a transfer pricing frameworkincluding the definition of an allocation method for the individual allocation streams as well as the development of an allocation model…
  • Definition of transfer pricing guidelinesbased on the framework both internal and external…
  • Specification of a deviation analysis and development of an implementation planning…
  • Development of a functional design for the continuous forecastfocusing on the business process driven KPIs and the development  of a driver based financial simulation concept…
  • Identification and prioritization of functional and technical requirements for the IT implementation…
  • Review of the existing corporate planning and controlling processes as well as a comparison with the advance budgeting approach…
  • Development of a holistic concept for the new planning and controlling systems…
  • Integration of the strategic, mid-termand operational planning with the planning and controlling systems. Development of a simulation tool for the estimation of the individual sub-plans…
  • Creation of technical designs and development of planning solution as well as continuous validation of the technical implementation according to the defined requirements…
  • Review of the corporate strategyby fine tuning the business model with regards to the interaction between and product groups, target groups and distribution channels…
  • Specification of the corporate strategy and definition of a strategy mapincluding strategic measures and KPIs as well as the introduction of a group-wide balanced scorecard…
  • Strategy test using a preselected array of productsand distribution channels…
  • Establishment of a strategic reporting system…
  • Clear and comprehensible communicationof the most important strategic company goals
  • Delivery of data critical for successto the defined management levels…
  • Intensive usage of the balanced scorecardand continuous development based on current market requirements and projected needs…
  • Draft of a uniform store process modeland its transition into a standardized questionnaire…
  • Collection of store specific information regarding the working hours used on an individual activity level including testing of data collection method in chosen pilot stores…
  • Identification of structural and store specific optimization potentialusing internal benchmarks…
  • Evaluation and quantification of optimization potentials as well as of “quick wins“ and opportunities…