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Technology to support modern retail operations

Technology to support modern retail operations

Technology is vital to stay ahead of customer expectations and used to support a strong strategy and operations within a retail environment.

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Andy Buckle

Director, Retail Operations & Technology

KPMG Australia

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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.

Cutting the complexity

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.

The challenges of legacy technology

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.

© 2020 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Liability limited by a scheme approved under Professional Standards Legislation.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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