Loved Rick‘s post yesterday on Walmart’s Investor Day (link in comments). This got me interested and spent some time going through the session. I felt a lot of retailers could benefit from this. 3 main points for future growth:1. growth (toppling and even more bottom line),2. margin improvement, and3. return Read more…
Companies need to focus on the customer experience and invest in technology to succeed in the last mile. – Amazon: works with local businesses to provide last-mile delivery services, and allows individuals to deliver packages using their own vehicles. – Walmart: Using its network of physical stores, including curbside pickup Read more…
By regularly reviewing your product performance and inventory turns, you can make informed decisions about budget planning and ensure that your business is on track to meet its financial goals. 1. Determine your planned inventory turns for the year. This will be based on your sales projections and desired inventory Read more…
Well, well, well…look who’s finally made it to the micro leagues on LinkedIn!That’s right, it’s TOC Flow Consulting.After three years of posting, networking, and shamelessly begging my family to follow me, I’ve finally hit the first step of social media – 1,000 followers. When I first started on LinkedIn, I Read more…
The concept of stores responding to current trends and buying patterns is not new, and many successful companies have implemented it to drive sales and customer satisfaction. One such company is Amazon, which constantly updates its product offerings based on what people are buying and searching for. Its recommendation system Read more…
– In the 1980s, Coca-Cola decided to change the formula of their flagship product to better compete with Pepsi. However, the new formula did not resonate with their loyal customers who had grown to love the original taste, and the company faced significant backlash. Eventually, Coca-Cola had to bring back Read more…
One Example: Chips in Cars Car manufacturers use computer chips for many functions like navigation and safety features. But due to the pandemic and other factors, there’s a shortage of computer chips, which has caused production cuts and delays. This has hurt car sales and revenue. To deal with this, Read more…
Being mindful of who we are hiring gives the right signals to employees, investors and clients.How Successful Companies Lose Their Edge 4️⃣ Has the rapid pace of hiring led to bad hires?Especially at the manager and director levels. There is a lack of talent management and retention.High variation in managerial Read more…
𝗫𝗲𝗿𝗼𝘅Did you know they were the first to invent the PC?Unfortunately, the management thought going digital would be too expensive and they never bothered to exploit the opportunities they had. 𝗬𝗮𝗵𝗼𝗼Yahoo was one of the main players in the online advertising market. The company decided to focus more on becoming Read more…
Speak up when you see ‘being safe’ become the main strategy rather than ‘serve your customer’. How Successful companies loose their edge 2️⃣ Do we interpret “respect each other” as finding a way to agree with everyone’s opinion? This leads to difficulty in making decisions. Do we prioritise predictability with minimal Read more…