Retail

Retail (131)

POS Data Sharing- The Ultimate Big Data

big data posPoint of sale (POS) data has long been the domain of the retailer that collects it. It hasn’t always available – in detail, anyway – to manufacturers and suppliers that could use the data for such things as demand planning, improving supply chains to avoid stock outs and to better understand and act on buying habits so they can more accurately allocate advertising dollars. Of course, all those benefits would in turn benefit the retailers, which could improve planning and forecasting, reduce (or eliminate) stock outs, and even have leverage to enact and enforce service level agreements with suppliers.

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Enjoy Big Gains By Involving Your Smaller Vendors In Your EDI Process

EMRThe age of digital medical records has elevated the urgency with which hospitals and other medical providers need to integrate all of their procurement processes, maintain control of the data and inventory, all while decreasing costs. In order to meet those demanding challenges, hospitals are being forced to adapt new best practices and technologies. However, the mere presence of shiny, new technology does not necessarily guarantee every cog will function as it should and the increasing need for information will be sated. In addition for access to desired information, hospitals and medical facilities also need the data to be in the right format, available on-demand and accessible to the right people. Read more...

When The Weather Gets Rough, Retail Goes Omni-Channel To Survive

winter stormBoston and much of the nation’s East Coast might have been buried under piles of snow during the winter of 2015, but the retail industry itself did not get buried. How can that be, considering roads were impassable for days in many areas, freezing temperatures were ideal for snowman survival and people were just plain miserable?

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Why EDI is Important to the Retailer

Red-important-stampIt used to be tough to talk EDI with a retailer: “Why should I replace a convenient FAX P/O that goes directly to the keypunch operator with a 'rip and read' document that must go through the data processing department before we ever get it?" The introduction of the electronic invoice caught their attention with faster payments. Now a host of new capabilities are available to help the retailer. Read more...

A Successful Retailer Without an Online Presence?

no-onlineIn retail, EVERYBODY must (or thinks they must), be prominent in e-retailing and omnichannel because of ALL the revenue. So Primark must be joking to think they can remain just simply brick & mortar? But when Sears shuts down stores, UK-based Primark buys them to expand into the US. Keep thinking of an old saying: “Jack of All Trades, and Master of None”. Bet Primark has heard of it. Read more...

Will Omnichannel Transform Pricing?

7 Eleven 1970 yearbookA few decades ago the concept of making buying items more convenient lead to the growth of the 'convenience store.' 7-Eleven and its ilk popped up across the country. They were small stores with a limited selection of products. You could park directly at the front door, walk in and out with your purchase in about 2 minutes. Very convenient - and also pretty expensive. Read more...

Is the New Retail Paradigm "BrickLine"?

bricklineAs long as we're making up words to describe retail strategies, how about 'Brickline' that is the combination of 'brick and mortar' and 'online'. If we look around us, there is a natural migration to the combination of physical stores and online convenience. We've been calling it Omnichannel for a while, but I think it's time for a change in terminology that better describes what retail customers want. Read more...

Delivery Tomorrow - A Silly Concept

googleshoppingexpressGoogle is pursuing its "Google Shopping Express" service that promises delivery of your order the next day. The goal of quick delivery is one that's been tried before, and is being rolled out by such other retailers as Amazon. If you think that the power of next day delivery is an unnecessary and superfluous move, you should think again. Read more...

Is Omnichannel Working?

forrester omnichannel2"Amazon is the leader and gaining every day in outpacing traditional businesses because they sell online." At least that's the conventional thinking. And yes, Amazon sales are increasing. But according to L2's Omnichannel Retail 2014 report, brick and mortar retailers are outpacing both Apple and Amazon in terms of e-commerce growth. Read more...

Where Is Omni-Channel and Why Isn't It?

retailersWhat's your definition of "Omni-Channel"? However you define the term it's a fair bet that your definition as a retailer or even as a supplier is very different from how consumers define it. That doesn't mean that consumers don't understand and want what they define. In fact, consumers seem to be more savvy about what they want from their retailers without regard to any kind of terminology. In short, consumers want to be able to do business with their retailers using whatever presences those retailers have. And by the way - their retailers should have many different presences if they intend to remain a favored status with their consumers. Read more...

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