Videos on How YOU Can Do Better in Omnichannel

Posted on March 3, 2016 by bermanevansretail
Supply chain management has become a lot more complex for the retailers that operate through multiple sales channels. Their goal is to provide the most seamless operations possible through an omnichannel strategy — as we have noted before (see, for example, 1, 2, 3, 4, 5).
To learn more about omnichannel retailing, take a look at these YouTube videos from HighJump (a “global provider of supply chain management software and trading partner network technology that streamlines the flow of inventory and information from supplier to store shelf”).
And click here, for more videos through an online library offered free by HighJump.
Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Technology in Retailing, Video Clips (non-career) | Tagged , , , , , , , , | 1 Comment

Is the Store of the Future Already Here?

Posted on March 2, 2016 by bermanevansretail
With the rapid technological advances in the digital marketplace, the stores of today — and the stores of the near future — usually operate and look much different than the stores of just ten or fifteen years ago.
As Retail TouchPoints notes:
“Want a look at the future of retailing? It’s already here. Technologies such as 3D printing, interactive digital displays, biometrics, and beacons are giving brick-and-mortar retailing a Tomorrowland vibe — and providing real-world benefits to boot. For example, beacons influenced an impressive $4 billion in retail sales in 2015, and that number is projected to increase tenfold this year. Deploying digital signage can increase sales volumes by more than 30%.”
Take a look at the infographic below by SAP and Retail TouchPoints.

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Part 8: Putting It All Together | Tagged , , , , , , , , , | Leave a comment

What Makes Great Firms: Tips from Jack Welch

Posted on March 1, 2016 by bermanevansretail
To many expert observers, Jack Welch (who served as CEO of General Electric from 1981 to 2001) was the “Manager of the Century,”  as he was called by Fortune. According to 60 Minutes, the value of GE stock rose by 4,000!!!! percent during Welch’s tenure as CEO.
Since his retirement from GE, Welch has not been idle on the business front — far from it. He has been involved with business education, done speaking engagements, authored/co-authored books, served on corporate boards, and done a whole more.
Recently, Jack and Suzy Welch contributed an essay on “6 things that distinguish great companies from average ones” for Business Insider:
  1. “Great companies demonstrate a real commitment to continuous learning.”
  2. “Great companies are meritocracies.”
  3. “Great companies not only allow people to take risks but also celebrate those who do.”
  4. “Great companies understand that what is good for society is also good for business.”
  5. “Great companies keep their hiring standards tight.”
  6. “Great companies are profitable and growing.”
 
Click the image for an explanation of each of the above points.

Photo by Mike Coppola/Getty Images

 

Posted in Career Useful Information, Careers in Retailing, Part 1: Overview/Planning, Part 8: Putting It All Together | Tagged , , , , , , , , , , , | 1 Comment