There’s no doubt that retailers believe they need to engage better with customers and programs such as loyalty schemes provide a link, but have they been effective at generating goodwill across the customer base while increasing sales or are they just filling up databases? If we were to make the assumption for the purpose of … Read moreThe loyal customer divide…Are we engaging correctly?
Can a retailer simply use cliché marketing schemes anymore to entice customers into thinking that by shopping with them you’ll always be paying the lowest price and if not they will match or beat it? With so much competition and evolving methods for buying goods it stands to reason that price has become a more … Read moreHave ‘lowest prices guarantees’ and ‘we’ll beat any price by a %’ become negative marketing?
Like the environment, the retail economy appears to be changing in a number of ways. From parallel imports to overseas brands with specialty outlets, there’s no time to stay stagnant. The question for many retailers is not “when?” but “how will we respond and can our own Retail Value Chain adapt changes as they occur?” … Read moreDoes your Retail Value Chain support environmental change?
Most of us who work in a data-related field are familiar with the universal themes and controversy surrounding Freakonomics. Freakonomics, the brainchild of two economists who use economic principles to explain and explore just about every aspect of society, was introduced to us in the mid-2000s as a book, and then made into a documentary. It … Read moreFreakonomics, Big Data and Thinking Beyond Assumptions
I picked up a pack of vitamins today and noticed the batch number “020616” and use by “SEP 20” on the label. This is something I consume, so I rely on it being fit to consume. The company that produced it does their best to ensure that it is fit to consume. However, if something … Read moreTraceability – knowing where it came from and where it went
Recently I was looking at different ways of calculating safety stock and one of the calculations I looked at used “average lead time”. It occurred to me that lead time is used a lot in supply chain calculations. So, what does it really mean, and should it be recalculated after every delivery? The simple definition … Read moreWhat should lead time mean?
Setting Key Performance Indicators (KPIs) is sometimes seen as an art, because many companies find it hard to decide on what to measure and while others have several KPIs, they may not be the right ones. Many years ago, I worked with a warehouse manager who needed help with one of his KPIs. His company … Read moreBeware of focussing on the KPI and not the objective