More About this Engagement Paper
Retailers are feeling more pressure than ever. Between the continued rise of eCommerce, introduction of legislation regarding predictive labor scheduling and fair labor laws, rising wages and many other forces, retailers need a partner in workforce management that simplifies execution and allows them to focus on delivering exceptional experiences to their customers.
Informed analysis to support fact-based decisions about your merchandising offerings and programs is critical to target and foster the signature investments that will set your company apart, from those that won’t pay their own way. Armed with the facts, you may decide to tweak a well-performing program, consider alternative out-sourcing of other programs to help them turn a real profit, or to retire programs that no longer serve your differentiation or profit needs. Only when you can assemble a total cost and revenue picture for these programs do the insights for refinements become possible.
Consider as you continue to introduce products and services into your locations to differentiate your company from online retailers and drive traffic into your stores, how are you measuring the true labor cost? Are you measuring it at a program level across the company? How about a category level across the company? What if you could measure it at an individual UPC level? Furthermore, what about if you measure how this varies from store to store? This Engagement Paper will describe how Logile helped one of our customers accomplish this and the benefits of:
- Accurate retail costing
- Accurately mapping data to calculate true labor requirements
- Understanding true, store-specific profitability at an item level
This case study will help you understand how Logile’s data analytics and UPC Analyzer™ can provide your organization with the power of facts to assess your item assortment and to understand item profitability fully loaded with all labor, shrink and supply costs. This is a powerful new way to revise perishable merchandising programs and to optimize store assortments and space allocation by weeding out non-performing SKUs. Assess which programs may be right for which stores armed with facts. In labor intense perishable offerings, this insight can arm you to significantly impact gross profits, shrink and labor expense.