ERP Insights >> Magazine >> February - 2016 issue
Technological Advancements and the Changing the Face of Retail Industry
Author : Sunil Nair, VP-Technology, SPAR Hypermarket
Friday, February 19, 2016
SPAR Hypermarkets and supermarkets in India is the result of a license agreement between the Dubai based Landmark Group's Max Hypermarkets India Pvt. Ltd. and Amsterdam based SPAR International. The worldwide SPAR organization comprises 12,314 stores in 40 countries on 4 continents and meets the needs of over 13 million consumers every day.
Over the past few years, a number of technology trends have evolved and dramatically altered the retail industry. The emergence and the transformational growth of the new economy has unleashed powerful forces which are eventually and successfully reshaping the retail industry at a transformational speed. From production to customer relationships, supply chain and brand management, everything is under the influence of this revolution. Information Technology (IT) is playing a pivotal role especially in retail sector as the nature of business is complex with huge volume of transaction data and 365 days operation.
The major challenge that the retailers, especially in hypermarkets space like us face is to improve the sales and margins in highly competitive environment. We are addressing this challenge by leveraging cutting edge technology solutions which help in optimizing the inventory positions, increasing stock turns, reducing stock-outs and shrinkages and improving overall supply chain operational efficiencies in the dynamic retail business. For further ease of operation, at SPAR Hypermarket, we have implemented Oracle retail ERP solution; this provides us a holistic view of entire retail operations in near real time basis and helps to take informed decisions at right time.
With the growing competition it has become extremely vital to innovate continuously and implement cutting edge technologies to fulfill today's demanding customers' need. In order to remain ahead of the curve, technology is playing far greater role than even before, and we at SPAR not only recognize the same but also try to leverage the technology in best possible manner to achieve business objectives. We regularly reach out to our internal and external customers/stakeholders to understand their pain points and come up with technological solutions to overcome the same.
Revolutionalizing through SMAC
SMAC technology assists companies to move into high-margin businesses due to its global reach, low overheads and high availability. It is spreading faster than any other technology. Social interactions are enhancing the way people interact with each other and amongst businesses. To drive advantage out of this, we have developed a web and mobile based Quote management solution to connect our commodity buyers with their respective suppliers through tablets and smart phones. This supply side innovation is helping business in collating and finalizing the best prices in a transparent and paperless manner by simulating a buying auction environment. This solution is providing greater transparency and huge saving in manual effort of buyers and suppliers.
Keeping up with the innovation, we are also implementing mobile application for the shop floor staffs to assist them in providing all the required information about the SKUs such as Stock on hand, Pricing was/now, Promotion, damage/expiry, aging etc. This application is going to add tremendous value to customer and bring efficiencies in the working of our store front end staffs. Similarly, we are doing a pilot for the queue bursting solution using a mobile application to fast track the check-outs especially during the weekends. This solution is expected to reduce the customer waiting time in queue by 40 percent.
Big Data and Cloud: A Game Changer in Retail
Big data and cloud have a vital role to play in organized modern retail going forward. While big data is the convergence of more data from more sources than we have ever seen, it also represents a cultural shift in the way retailers connect with consumers in a meaningful way. It is packed with enormous potential to boost top line and bottom line if used judiciously. Big Data solutions facilitate predictive analysis on the customer data collected from a wider range of sources and can help retailers to accurately identify shopping behavior of customers which in turn can be used to deliver highly targeted, location-based services etc. almost in real time.
Here, at SPAR, we have implemented BI Retail solution for the analytics and informed decision making purpose. It has helped businesses in providing 360 degree view of entire retail operation from a single source, thus enabling them to take quick and informed decisions. BI solutions have completely eliminated manual effort required in collating data from different sources drastically and has also reduced dependency on IT for MIS reporting to a greater extent. Pre-configured business metrics and KPIs are readily available for the business analysis purposes and adding tremendous value to the business.
To survive in a consumer-empowered economy, it is important that the retailer leverage their information assets wisely to gain a comprehensive understanding of market, customers, products, employees and more. (As told to Deepshikha Singh)
Technological Advancements and the Changing the Face of Retail Industry
Author : Sunil Nair, VP-Technology, SPAR Hypermarket
Friday, February 19, 2016
SPAR Hypermarkets and supermarkets in India is the result of a license agreement between the Dubai based Landmark Group's Max Hypermarkets India Pvt. Ltd. and Amsterdam based SPAR International. The worldwide SPAR organization comprises 12,314 stores in 40 countries on 4 continents and meets the needs of over 13 million consumers every day.
Over the past few years, a number of technology trends have evolved and dramatically altered the retail industry. The emergence and the transformational growth of the new economy has unleashed powerful forces which are eventually and successfully reshaping the retail industry at a transformational speed. From production to customer relationships, supply chain and brand management, everything is under the influence of this revolution. Information Technology (IT) is playing a pivotal role especially in retail sector as the nature of business is complex with huge volume of transaction data and 365 days operation.
The major challenge that the retailers, especially in hypermarkets space like us face is to improve the sales and margins in highly competitive environment. We are addressing this challenge by leveraging cutting edge technology solutions which help in optimizing the inventory positions, increasing stock turns, reducing stock-outs and shrinkages and improving overall supply chain operational efficiencies in the dynamic retail business. For further ease of operation, at SPAR Hypermarket, we have implemented Oracle retail ERP solution; this provides us a holistic view of entire retail operations in near real time basis and helps to take informed decisions at right time.
With the growing competition it has become extremely vital to innovate continuously and implement cutting edge technologies to fulfill today's demanding customers' need. In order to remain ahead of the curve, technology is playing far greater role than even before, and we at SPAR not only recognize the same but also try to leverage the technology in best possible manner to achieve business objectives. We regularly reach out to our internal and external customers/stakeholders to understand their pain points and come up with technological solutions to overcome the same.
Revolutionalizing through SMAC
SMAC technology assists companies to move into high-margin businesses due to its global reach, low overheads and high availability. It is spreading faster than any other technology. Social interactions are enhancing the way people interact with each other and amongst businesses. To drive advantage out of this, we have developed a web and mobile based Quote management solution to connect our commodity buyers with their respective suppliers through tablets and smart phones. This supply side innovation is helping business in collating and finalizing the best prices in a transparent and paperless manner by simulating a buying auction environment. This solution is providing greater transparency and huge saving in manual effort of buyers and suppliers.
Keeping up with the innovation, we are also implementing mobile application for the shop floor staffs to assist them in providing all the required information about the SKUs such as Stock on hand, Pricing was/now, Promotion, damage/expiry, aging etc. This application is going to add tremendous value to customer and bring efficiencies in the working of our store front end staffs. Similarly, we are doing a pilot for the queue bursting solution using a mobile application to fast track the check-outs especially during the weekends. This solution is expected to reduce the customer waiting time in queue by 40 percent.
Big Data and Cloud: A Game Changer in Retail
Big data and cloud have a vital role to play in organized modern retail going forward. While big data is the convergence of more data from more sources than we have ever seen, it also represents a cultural shift in the way retailers connect with consumers in a meaningful way. It is packed with enormous potential to boost top line and bottom line if used judiciously. Big Data solutions facilitate predictive analysis on the customer data collected from a wider range of sources and can help retailers to accurately identify shopping behavior of customers which in turn can be used to deliver highly targeted, location-based services etc. almost in real time.
Here, at SPAR, we have implemented BI Retail solution for the analytics and informed decision making purpose. It has helped businesses in providing 360 degree view of entire retail operation from a single source, thus enabling them to take quick and informed decisions. BI solutions have completely eliminated manual effort required in collating data from different sources drastically and has also reduced dependency on IT for MIS reporting to a greater extent. Pre-configured business metrics and KPIs are readily available for the business analysis purposes and adding tremendous value to the business.
To survive in a consumer-empowered economy, it is important that the retailer leverage their information assets wisely to gain a comprehensive understanding of market, customers, products, employees and more. (As told to Deepshikha Singh)
Over the past few years, a number of technology trends have evolved and dramatically altered the retail industry. The emergence and the transformational growth of the new economy has unleashed powerful forces which are eventually and successfully reshaping the retail industry at a transformational speed. From production to customer relationships, supply chain and brand management, everything is under the influence of this revolution. Information Technology (IT) is playing a pivotal role especially in retail sector as the nature of business is complex with huge volume of transaction data and 365 days operation.
The major challenge that the retailers, especially in hypermarkets space like us face is to improve the sales and margins in highly competitive environment. We are addressing this challenge by leveraging cutting edge technology solutions which help in optimizing the inventory positions, increasing stock turns, reducing stock-outs and shrinkages and improving overall supply chain operational efficiencies in the dynamic retail business. For further ease of operation, at SPAR Hypermarket, we have implemented Oracle retail ERP solution; this provides us a holistic view of entire retail operations in near real time basis and helps to take informed decisions at right time.
With the growing competition it has become extremely vital to innovate continuously and implement cutting edge technologies to fulfill today's demanding customers' need. In order to remain ahead of the curve, technology is playing far greater role than even before, and we at SPAR not only recognize the same but also try to leverage the technology in best possible manner to achieve business objectives. We regularly reach out to our internal and external customers/stakeholders to understand their pain points and come up with technological solutions to overcome the same.
Revolutionalizing through SMAC
SMAC technology assists companies to move into high-margin businesses due to its global reach, low overheads and high availability. It is spreading faster than any other technology. Social interactions are enhancing the way people interact with each other and amongst businesses. To drive advantage out of this, we have developed a web and mobile based Quote management solution to connect our commodity buyers with their respective suppliers through tablets and smart phones. This supply side innovation is helping business in collating and finalizing the best prices in a transparent and paperless manner by simulating a buying auction environment. This solution is providing greater transparency and huge saving in manual effort of buyers and suppliers.
Keeping up with the innovation, we are also implementing mobile application for the shop floor staffs to assist them in providing all the required information about the SKUs such as Stock on hand, Pricing was/now, Promotion, damage/expiry, aging etc. This application is going to add tremendous value to customer and bring efficiencies in the working of our store front end staffs. Similarly, we are doing a pilot for the queue bursting solution using a mobile application to fast track the check-outs especially during the weekends. This solution is expected to reduce the customer waiting time in queue by 40 percent.
Big Data and Cloud: A Game Changer in Retail
Big data and cloud have a vital role to play in organized modern retail going forward. While big data is the convergence of more data from more sources than we have ever seen, it also represents a cultural shift in the way retailers connect with consumers in a meaningful way. It is packed with enormous potential to boost top line and bottom line if used judiciously. Big Data solutions facilitate predictive analysis on the customer data collected from a wider range of sources and can help retailers to accurately identify shopping behavior of customers which in turn can be used to deliver highly targeted, location-based services etc. almost in real time.
Here, at SPAR, we have implemented BI Retail solution for the analytics and informed decision making purpose. It has helped businesses in providing 360 degree view of entire retail operation from a single source, thus enabling them to take quick and informed decisions. BI solutions have completely eliminated manual effort required in collating data from different sources drastically and has also reduced dependency on IT for MIS reporting to a greater extent. Pre-configured business metrics and KPIs are readily available for the business analysis purposes and adding tremendous value to the business.
To survive in a consumer-empowered economy, it is important that the retailer leverage their information assets wisely to gain a comprehensive understanding of market, customers, products, employees and more. (As told to Deepshikha Singh)
