The Secret To Optimal Store Performance
Optimal store performance is the goal of operations management but optimal store performance is not achieved by simply declaring goals and expecting all stores to reach them. The secret to optimal store performance is the ability to analyze store performance individually, look at more than the numbers, and put appropriate actions in place to increase efficiency.
ChainDrive’s Operations Management software utilizes centralized data management, configurable settings, key performance metrics, optimized inventory procedures, and dynamic analytics & reporting so that increased efficiency is enterprise-wide and each store is able to reach optimal performance.
Analyze Store Performance Individually
When Operations Management teams look at store performance, accuracy is essential and analyzing store performance individually ensures that analysis is accurate. Key performance indicators need to be determined based on a store by store analysis. Current store status, historical comparisons, and ongoing tracking are streamlined with ChainDrive’s centralized database. Measurements like checkout, sell-thru, stock status, comparative contributions, gross margins, etc. can be viewed as specifically as the individual transaction level so that statistics are as identifiable as a fingerprint.
Look At More Than Numbers
Every metric used to measure a store performance has to be analyzed in the context that produced the numbers. A store that is inefficiently designed, for instance, will not be able to be restocked as quickly as a store that has wider aisles and a storeroom with easy access to the loading docks. Poor store communications can prevent staff from actually understanding new policies and implementing them. Employee performance may be influenced by inadequate equipment or scheduling dynamics.
Operations management teams need to look at the “why” behind the numbers in order to develop strategies that will address the problems preventing individual stores from reaching their goals.
Put Appropriate Actions In Place
An individualized approach to store performance is the only way to identify which actions will be appropriate for increased efficiency. ChainDrive’s Operations Management is part of a professionally designed and supported Integrated Retail Management software solution that enables retailers to accurately analyze their data, identify areas that need to be addressed, develop strategies to optimize operations, and monitor ongoing developments in real time.
The secret to optimizing store performance is using technology like ChainDrive to identify and enhance the potential that already exists in each location.