Retailers - Improving Performance at the Shelf Edge
Retail today is down to the hundredth, if not thousandth of a percent in managing costs and maximizing profit. Foreign markets, import/export efficiencies and the migration from national to international to global has forced retailers to primarily focus on the cost of the products they sell as a measure in maximizing profitability. Customer Service initiatives have been introduced to increase loyalty and differentiate retailers in place of real or perceived price advantages. What has been ignored or deemed “too complicated” is the larger impact on profitability associated with the excessive and redundant costs in execution of strategic plans at the store shelf.
At IPMS, we believe the final frontier for retailers is excellence at the shelf edge. While the products that are displayed on the shelf have been beaten down to the absolute lowest cost and improvements in replenishment have reduced order quantities and volume discounts, it is the efficient execution at shelf edge, that holds the greatest impact to profitability for the retailers of the future. The new focus for a retailer is to acquire tools that virtually guarantee excellence in execution at the shelf with the minimum of labor and virtually no training or skill level requirements by an ever changing workforce. Confidence in consistent execution of plans across all stores in the chain has a value that far exceeds the profit potential of a product.
The tool to achieve the highest performance at the shelf edge is not a printed strip that has been developed as if it were a product, where cost is the sum of the raw materials used to produce it. Rather it is the value heavy extension of the strategic plans developed by Merchandising that need to be executed in the store. A tool that is a management report that provides Field Management and store personnel with all the information needed to be successful every time. A tool that is so precise and of highest quality that the store personnel do not need to verify it, receive specific training or possess a certain skill level in order to achieve success.
This tool is precisely what we offer through our patented software systems and shelf strip service. At IPMS, we develop the service solution to include your business rules, automatically validate and audit data, flexibility with managing price labels, price changes, color and data formatting right down to the store/shelf/position level. Our retail professionals are your advocates in developing and adapting the solution that will meet your current and future needs. Contact IPMS to get the most value for strategic initiatives by getting accurate, consistent execution in every store.
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