Project Description
Evaluation of existing core merchandising processes, tools, and organization to develop a comprehensive multi-year transformational roadmap.
The Client
A $1.4 billion retailer operating 278 stores and e-commerce, offering fashion merchandise and home goods using presentation tactics of high-end department and specialty stores to target an affluent customer base, while providing prices competitive with off-price retailers.
The Challenge
The client had defined many solid initiatives to drive top-line profitable sales and address the need to move quicker than ever in the prevailing dynamic retail environment. Leadership recognized, however, that they were stymied by existing system limitations and inefficient business processes.
Of particular concern was their core merchandising solutions, specifically related to merchandise planning, allocation, markdowns, promotional planning, and reporting. These inefficiencies added workload to many of their teams in the corporate office and in stores. The client wished to reduce manual work required, standardize their metrics and reporting tools, and enable a demonstrated ability for the enterprise leaders to make fact-based decisions quickly.
The Parker Avery Solution
Parker Avery assessed the client's business processes, evaluated current technology solutions, and identified other issues that inhibited corporate and individual growth, purchasing ease and accountability.
- Conducted interviews, store visits and shadowing sessions to review the client's merchandising, inventory management, and marketing processes and solutions
- Analyzed current merchandising business processes, systems, documentation and reporting capabilities
- Conducted a change readiness survey to understand the client's capacity to transform the business
- Summarized findings and presented a gap analysis against industry best practices, tailored to the client's unique business model and defined vision for the future
- Synthesized potential benefits into five key initiatives, outlining anticipated complexity, change management and work load impact
- Created a prioritized multi-year detailed roadmap identifying “quick wins” to build momentum while respecting the client's bandwidth for day-to-day operations
The Result
Parker Avery was subsequently engaged to support implementation of the roadmap, which upon completion will significantly improve product assortment, inventory turnover, employee satisfaction, marketing effectiveness and company profitability, while positioning the company for continued substantial growth.