The Retailer SUMMER 16_v7

retail news

It is time to thoroughly review our organisational structures and identify areas where cross-channel integration can yield cost benefits. Given the increased pressures of the NLW, below- average inter-departmental communication is no longer an excuse for reduced productivity. Examining your general operation efficiency is also beneficial at this stage. This is an optimal time to review all your business processes to ensure they are lean and labour efficient. 3) REVIEW YOUR TECHNOLOGY PLATFORM New retail technology tools are being unveiled at pace. Rising costs might seem like a reason to reduce investments in experimental technology; however, a clear understanding of what is on the market and worth investing in is paramount to maintaining the competitive edge in difficult times. mechanism already in use at Asda that helps to better target product investment to cater to your customers. Beekeeper is another tool that exemplifies the high level of innovation and diversity in the retail technology market. Beekeeper is an app that can be used to keep in contact with employees that are not set up with email addresses like shop floor staff. Effective use of tools such as these can provide significant value in terms of cost savings. We would also suggest keeping particularly apprised of technologies that can reduce your labour burden e.g. self service machines. 4) INVEST BASED ON YOUR FINDINGS Acting to cut costs based on limited information is never a good idea. Avoid this by thoroughly following the first three steps in this process. Reviewing your organisation and technology platform will no doubt suggest many changes of varying significance. Tools already exist that can give you an edge in operational efficiency. For example, Vision Critical is a customer feedback

“In the first year retailers can expect to pay over £1million more in wages for low-paid workers over 25”

Now more than ever, you need to ensure you have the direction, tools and investment required for success.

SUNDEEP KHANNA // sundeep.khanna@cmg-change.com // www.changemanagementgroup.co.uk

retailer | summer 2016 | 37