| As always, time is money. It just keeps getting more | | | | all your benchmarks are derived from the 'old' way of |
| expensive. Every passing day sees more Consumer | | | | doing business? |
| Products companies following the path of industry | | | | Empirical evidence can be drawn from companies |
| leaders - investing in new retail execution solutions | | | | who have already implemented these solutions. |
| and reaping measurable returns from the field. | | | | Across industry sectors, and notwithstanding |
| For those that wait and watch, each day ends with | | | | differences in geography and business metrics, these |
| opportunities foregone, rewards unclaimed, and their | | | | organizations demonstrate consistent bottom line |
| rivals a little richer. | | | | gains driven by improvements in operational |
| The question is: if the business case for investment is | | | | efficiency. These are typically immediate and are |
| so compelling, why would any company wait even a | | | | often dramatic - but they are just the beginning. |
| day longer to get a project started? The answer can | | | | More significant and sustainable value is realized when |
| probably be found in the business case itself. Unlike | | | | companies harness the velocity of data flowing to |
| order-to-cash or supply chain systems, | | | | and from the field and exploit powerful new |
| next-generation retail execution solutions are | | | | capabilities in the solution. The result is a step gain in |
| relatively new, emerging rapidly in the wake of | | | | competitive advantage through more effective retail |
| recently-matured mobile and wireless technologies. | | | | execution. |
| Because they offer uncharted opportunity, beyond | | | | Independent Consumer Product industry research |
| basic process automation, developing a business case | | | | mirrors observations in the field. A recent in-depth |
| proposition can be challenging (in a very positive | | | | study by AMR Research found that companies taking |
| way). | | | | responsibility for the supply chain all the way to the |
| Redefining value expectations in retail execution | | | | retail shelf can see a 2% to 15% improvement in |
| Research from CIO Insight found that up to 87% of | | | | sales. |
| companies require a business case to support | | | | Next generation retail execution solutions deliver a |
| investment in IT projects. But in many cases, the | | | | return on investment by helping Consumer Product |
| determination of return on investment (ROI) is | | | | companies: |
| speculative and is difficult to reconcile post | | | | - optimize efficiency and effectiveness in all areas of |
| implementation. This is especially true with systems | | | | retail execution |
| enabled by new technologies that facilitate a | | | | - focus on value-building activities in the field (rather |
| paradigm shift in business practices. And | | | | than routine administration) |
| next-generation retail execution solutions fit squarely | | | | - communicate directly with field reps and drive |
| into this category. | | | | high-value activities to their mobile devices |
| Imagine what a Consumer Products company could | | | | - use up-to-date business intelligence to drive daily |
| achieve if its field sales, marketing, merchandising, and | | | | operations |
| delivery personnel were running sophisticated | | | | - significantly raise customer service levels |
| business workflow processes, on powerful | | | | - measure and improve field rep performance |
| pocket-sized devices, with information flowing | | | | The bottom-line benefit is a significant return on |
| instantly between field reps and head office | | | | investment through revenue growth and cost |
| managers? It opens a world of opportunities that | | | | reduction, flowing through to greater profitability. |
| were inconceivable with traditional field operation | | | | While the specific value drivers will vary from |
| systems. | | | | company to company, the conclusion for all is clear |
| But this leads to the conundrum facing many | | | | that there is no time to waste, riches await those |
| Consumer Product companies: how do you quantify | | | | companies that implement next generation in retail |
| the benefits of a 'new' way of doing business when | | | | execution solutions. |