Technology is vital to stay ahead of customer expectations and used to support a strong strategy and operations within a retail environment.
In an increasingly competitive retail environment, being at the forefront of technology has never been more important. Technology is core to any modern retailer’s omni-channel operations, with it enabling seamless connectivity between physical stores, online stores, supply chains, and customers.
Retailers that fail to recognise this, and lag behind on technology adoption, can quickly find they are in trouble.
For a retailer to grow, it needs integrated software across multiple domains, e.g. procurement, supply chains, inventory, merchandise, CRM, forecasting, analytics, finance, HR, and much more, to ensure smooth operations and optimal customer service.
Many companies have tried to ‘bolt-on’ solutions to keep up with changing customer demands, however taking this approach can add complexity to systems and processes leading to the need for an enterprise-wide rebasing.
If you are a retailer in this position, you will need to cut the complexity in your operating model, and ensure you have the right technology to support agility and continual evolution.
Many retailers are dealing with legacy technology with multiple add-ons, complex customisations and workarounds. The result is a technology system that is disjointed and not fit-for-purpose. The retailer can’t deliver to today’s fast-paced and agile demands. The longer that a retailer relies on legacy technology, the more likely they are to fall behind.
Find out more on KPMG’s future-ready approach to bringing the right enabling technology to support your needs.