Some retailers have already taken strides to improve business strategies and deploy updated solutions as they head into 2018.
For example, Finish Line is instigating new business processes with backing from Columbus Consulting International, according to a spokesperson for the consulting company.
By working with Columbus Consulting to design as well as test its new merchandise financial planning and assortment strategy solutions, the spokesperson explained, Finish Line will be able to better prepare for its athletic apparel and footwear business and forge ahead into new territory.
“We hit the ground running with the implementation of the new technology solutions here at Finish Line, and we are taking important steps to update our merchandising processes,” said Brad Eckhart, SVP of planning and allocation at Finish Line. “Columbus Consulting’s unmatched experience in the industry and familiarity with the technology plays a critical role in our success as we move away from our current spreadsheet solutions and evolve Finish Line’s technology capabilities.”
Eckhart added that the implementation of a merchandise financial planning system is the first step in what he described as a multi-phased merchandising systems roadmap. “Ultimately these technology improvements and new processes will sharpen Finish Line’s focus on our customers and lay the foundation for our ultimate goal of assortment plans by location,” he said.
The spokesperson noted that the completed phase of this two-stage project has provided Finish Line with centralized data and improved communication throughout the organization. The second phase, set to be finished this spring, purportedly includes store planning and grading, key item planning and assortment strategy.
The result, said the spokesperson, will be new capabilities that enable the retailer “to plan deeper in assortment, better control logistics and profitability, increase visibility across the business, and improve its merchandise presentation and assortment across stores.”
How Amazon, Google & Artificial Intelligence Will Define Shopping in 2018
Outdoor Retailer, Dallas Market Center Executives Share 2018 Plans
UPS Taps Wal-Mart Executive for a ‘Transformation’ Role