Global Jeweler’s New Retail Process and Technology Roadmap Energize Growth
A comprehensive retail process and technology roadmap prioritizes a global jeweler’s initiatives to harmonize and modernize its operations, drive efficiencies, and support growth
Client Challenge
The client is a $7 billion jewelry retailer with 2,700 stores worldwide, operating multiple banners with a broad assortment of diamond jewelry, watches, and piercings. Acquisitions and organic expansion fueled rapid growth but necessitated modernization or replacement of multiple outdated ERP systems. To optimize efficiency and agility, the retailer needed consistent business processes and organizational structures across its multiple banners. Company leadership recognized the need to create a unified retail process and technology roadmap to drive growth and innovation.
Parker Avery Solution
Through a series of discovery interviews and workshops held with company leadership and end users, The Parker Avery Group reviewed and assessed the legacy system capabilities and process pain points focusing on the following key areas:
- Current-state process pain points and organizational roles and responsibilities
- Current-state end-to-end system capabilities and existing upgrade implementation roadmap
- New solution and capability improvements desired to support long-term business strategies
- Future-state systems landscape
- Project plans, processes, tools, and people required to begin the modernization effort
- High-level cost-benefit analysis
Key deliverables of the retail process and technology roadmap project included:
- Comprehensive list of pain points organized by process, organization, and tool impacts with corresponding recommended improvements
- Multi-year retail process and technology roadmap for implementing the identified improvements
- Preliminary list of recommended technology providers to address system needs
- Identification of organizational structure and role implications
- Budgetary estimates aligned with multi-year roadmap recommendations
- Benefits case including quantitative estimated benefits related to the implementation of new systems and stronger capabilities
Results
With Parker Avery’s guidance, the retailer’s executive team comprehensively considered both short- and medium-term projects that could add immediate benefits as well as longer-term transformational projects including the cost and timeline impacts of the legacy system replacements.
The client has started working on the smaller short-term projects outlined in its retail process and technology roadmap. The retailer is creating a budgetary plan for the next year to begin the selection and implementation of the necessary system replacements and related business process harmonization.
How consistent and efficient are your processes across your different businesses?
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