Arkansas Business Book of Lists 2009 - (Page 16) TOP CONCERNS 1 Location Costs 2 Reliability 3 Manageability 4 Robust Capabilities Growth One of the biggest challenges in retail operations is managing growth. Whether you grow by building locations or through acquisitions, bringing in a new store is a challenge. Every new location puts additional demands on corporate infrastructure. You may be working with new contractors for the first time. Local laws and infrastructure availability differ from site to site. Whether you are opening your 5th location or 5,000th, you don’t need every location to be an exception. You need as few surprises as possible, and a partner who understands and can provide standardization. Everything from the location of the equipment to the programming should be standardized anywhere that is possible. Vendors who can provide centralized staging reduce risks and variables related to local subcontractors. Security Knowledge is power certainly rings true in retail. Merchandising has come a long way since the days of special arrangements in windows to attract shoppers. Whatever you sell, having the right product at the right time for the right price is critical. Planning must happen months in advance to allow supply chain partners to deliver. The coordination required between manufacturers, logistics partners, marketing, and distribution is nothing short of amazing. Data about who buys what from whom at which price has enormous value, which makes it a Standardize Like the old saying goes, don’t reinvent the wheel. Corporate Finance Officer “I need a cost effective solution that can grow with our business, share common components, and minimize the number of different items we must purchase. It must also be designed for longevity, and have high availability of new or refurbished parts so repair or rebuild is always an option.” 2 1 Chief Information Officer “I need a platform that is scalable and easy to manage remotely, preferably utilizing common programming across multiple platforms. I also need robust reporting capabilities and for my team to be able to automate many repetitive tasks like changing call prompts, adding new users, removing inactive users, etc.” Download the Book of Lists as a spreadsheet. www.arkansasbusiness.com/lists Special Advertising Section 16 2009 book of lists
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