Why CIOs Need to Try New Retail Planning?

Why CIOs Need to Try New Retail Planning?

By: Retail CIO Outlook | Tuesday, October 22, 2019

The CIOs need to figure out the necessities behind the wants along with its worth, by defining higher goals and splitting them into tangible and substantial milestones on a timeline.

FREMONT, CA: CIOs have central roles in every organization, and today’s world, they are considered to be the backbone of their businesses. It is a much-known fact for every industry, including retail, where technology trends, such as automation, omni-channel, and advanced analytics, have become extremely popular.

Implementation of a new process can be highly time-consuming, which is why most of the CIOs do not prefer to switch from one vendor to another. If any experimentation goes wrong, then their company might get into a huge liability. But a change for better performance cannot always go wrong, and CIOs need to accept it in this tech-savvy age. 

There are a few methods that can help the CIOs in considering the new system implementations.

Fix the Goals:

In the absence of a clear goal, it can be a risk to achieve success in the entire project. It is essential to pre-set the goals and benefits that the company is looking at before going through a change. So, the first thing that can help the CIOs to manage new systems is a clear and precise plan.

There are frequent headaches in different plans that are caused by the indecisiveness of the organization and its team members. It always gets more comfortable to plan and implement something when it is appropriately analyzed or evaluated. 

Create a Business Case:

It is crucial to maximizing the business by using technology rather than utilizing it just for the sake of being a smart company. It is, therefore, ideal to come up with a choice based on which concrete business KPIs can reflect the overarching business planning of the organization, along with the improvements and potential changes accompanied by it. Furthermore, there can be nothing better than weighing up the possible risks and expenses.

Jotting Down the Benefits:

The cultural change is something that often goes unnoticed when a new solution is introduced in an organization. Even though people cling to the traditional methods, and do not rely on the new ones, it is vital for the CIOs, now, to implement the latest technologies.

Generally, business leaders require a deep understanding of the efficient methods of working that can help employees to navigate the changes. The most helpful approach to support change management is by ensuring that CIOs and other employees understand the benefits. By adopting new ways, people can eliminate a few of their mundane works and invest their time on more meaningful tasks.

Data Quality Investments:

It is significant to enhance the data quality in most of the retail planning projects because a low-quality data will not be of any use for the new solution. Similar to the phrase “garbage in, garbage out,” if the organization wants the retail planning system project to work, they will need to have a better, well-structured data, and an advanced quality inventory check.

Nevertheless, at the initial stage of the project, it is essential to have clear and precise goals more than just appropriate data. Similarly, it is also vital to be supple and adaptive to the extent that it allows the organization to make changes and stand by it. In general, more and more data issues might show up as any project proceeds, which is why modifying the master data should be approached as an ongoing development.

Right Time:

The transformation of the organization’s retail planning does not just mean the introduction of the latest, powerful technology but also an essential review of processes. The retail business, as of now, is focusing more on saving expenses and adding more value. It is a continually altering industry that needs to have CIOs who can take the company to a better position and stay spirited as the industry evolves.

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