Retail Cost Management Efficiency
Managing your costs efficiently is a critical success factor in multi-site retailing!
Are you struggling with too high operational costs?
Your costs should determine the margin you need for a desirable profit, so the lower the costs the more price competitive your business can be!
As competitive pressures continue to increase on retailers, the need becomes even greater to manage your costs better than your peers! Cost efficiency is particularly strongly recognised in the food discount sector, where margins are thin and many cost saving programmes all coming together, bring about the difference between success or otherwise. Foley Retail Consulting has its roots in terms of partner past experience in this sector, so this a core competence of the firm!
A combination of business process analysis, careful measurement of all necessary tasks and ideal organisational structure creates the best chance for high efficiency ratings.
FRC has significant experience in building a staffing model, which will in most cases save substantial costs. Building new staffing models is like tampering with the engine of a F1 racing car – if you don’t take care of how the consumer is treated, you will save costs but lose sales! Only a retailer can manage this successfully. FRC is only managed and staffed by retailers!
Our project deliverables include:
- Business process analysis and redesign. We specifically reduce complexity and replace inconsistent and difficult to achieve procedures with ideas that work
- Timed work study of all business processes and comparison of performance across whole chain
- Workshops to ensure management and staff “buy in” of new rules
- Budgeting and KPI process design with international benchmarking
- Coordination and communication strategy between subdivisions, HQ departments, field management and stores
- Staffing optimisation and work load planning system (including flexible part-time staffing strategies)
- Security and loss prevention
Foley Retail Consulting most frequently requested project is to streamline retail operations and improve cost management efficiency by ticking all the above points.