Running a profitable, sustainable retail organization requires attention to every detail and a constant trade-off between complex supply chain decisions, labor scheduling implications, inventory control, and more – all in response to difficult to anticipate customer demand. Monitoring and managing these key areas provides an organization with the ability to act and adjust as the market and environment constantly evolves.
To support these needs, Peloton has developed an Integrated Retail Performance Management Process. The process is comprised of distinct, yet interconnected strategic and operational processes, coupled with supporting technology that can be rolled out over time. This approach has allowed our clients to take a phased approach to optimizing each of these areas, and achieve quick wins while continuing to build on a sound foundation.
Strategic Planning– A critical organizational management activity for setting priorities, focusing energy and resources, and ensuring employees and other stakeholders are working toward common goals. An effective strategic planning process not only helps articulate where an organization is going and the actions needed to achieve business objectives, but also clearly defines success. A strategic plan is leveraged to communicate the organizational goals, comprising of Store Pro-Formas, capital expenditure plans, and 3-5 year long-range plans. Peloton works with organizations to not only develop the strategic planning solution, but also to integrate the strategic plan throughout the planning processes across the organization.
Corporate Financial Planning - Brings all the core processes together and summarizes the data to create the annual budgets and forecasts for the Financial Statements (Income Statement, Balance Sheet, and Cash Flow). Detailed corporate expenses – including workforce expenses, capital expenses, overhead expenses, and allocations – are also planned within this process. Peloton has vast experience working with retailers looking to closely manage their overhead and related costs to develop these solutions with a specific focus on driving enhanced visibility.
Store Operations Planning - a critical component of a retail organization’s ability to monitor and react to market factors. Unfortunately, many organizations have complex Store Operations Planning solutions that are maintained manually in spreadsheets or spreadsheet-like tools. Besides the manually intensive nature of these tools, they also do not support what-if and scenario planning, leaving little to no time for value added analysis. In short, they are unfit to effectively support the planning process in a dynamic retail environment. By implementing an Integrated Store Planning solution, you can transform a time-consuming, manual planning exercise into an efficient solution with reduced planning cycle times and better visibility to align your plans with strategic targets. For additional information regarding Peloton’s Store Operations Accelerated Planning Solution, please read our article in Clients & Insights.
Logistics – “Getting the right products to the right place at the right time.” In today’s dynamic environment, in-depth analysis of core metrics down to a detailed cost level is essential. Logistics plays a critical role in achieving this goal in a cost effective manner by managing a difficult balancing act between inventories, lead times, and overall distribution network cost. Unfortunately for many organizations, the data to support analysis often exists in a myriad of systems across the network and requires a significant amount of manual effort on a weekly and monthly basis. This process is often very time-consuming and lacks the detail, timeliness, and usability that is required by the business. Rarely can Excel-based applications support the drill-down capabilities necessary to understand underlying drivers for outliers in the data set and enable corrective action when necessary. Peloton has experience helping organizations gain increased access to relevant and timely data, thereby aiding opportune decision-making while significantly reducing the level of effort and cost to generate analytical reports.
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Inventory Management – As the second largest expense in any retail business, this is another critical process in our framework. Peloton works with organizations in creating inventory planning solutions to manage inventory levels, perform margin analysis, and integrate the data throughout the Store and Corporate Planning processes. Many organizations lack the clarity into their inventory-on-hand, inventory-in-transit, and the inventory required to replenish their Stores and Distribution Centers. Inventory and the related handling costs can be a large cost for a retailer – stronger visibility into these areas can drive significant value to the organization.
We have the pleasure of working with great clients that strive to realize the benefits of Analytics. These clients knew that gaining better insights into business performance was a priority but didn’t know where to begin their efforts. Some purchased tools but didn’t have people with the right skills sets. Others had the skills and tools but were not aligning their efforts to their overall corporate strategy – in effect; they were getting the right answers to the wrong questions. Let us help you get started – with just a small investment of your time we can begin your journey with an Analytics Maturity Assessment. This proven framework will help determine where to start, and what a roadmap could look like for your organization. Contact us at firstname.lastname@example.org to get started.