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Retail Modernization

The Situation Today

The retail industry is struggling to cope with several challenges in a highly competitive environment. One of them is an increase in inventory errors. To reverse this trend, modernization across the retail value chain is required – in particular, supply chain modernization for innovative solutions in assortment optimization, space planning, and demand forecasting; long-term planning and transparent supplier-retailer collaboration; supplier management and evaluation; proactive alerts based on customers’ purchasing behavior in a multi-channel environment; and a reporting platform that can provide insights for improving core business processes.

How HCL Can Help

HCL’s Retail Modernization solution provides supply chain modernization by helping to close the gaps in retail planning and supply chain management. Tested through market research and statistical analysis with the world’s top retailers, it enables customer-centric merchandising and cross-channel integration, improving retailers’ productivity and customer satisfaction.

The solution’s core products help provide a unified view of both product and customer information to all stakeholders, and gives retailers complete flexibility in the way they buy and augment inventory, thus optimizing investments in the supply chain. The Key Performance Monitoring product aims to reduce cycle time by addressing disruption due to faulty sourcing processes and enables retailers to maximise margins. HCL provides consulting, benchmarking, and implementation services for all components of the Retail Modernization solution.

Retail Modernization - HCL Technologies

What You Can Expect

Retail Modernization has a pool of product solutions that aim to improve key performance indicators (KPIs):

  • Supply chain modernization by optimization and vendor collaboration: In-stock percentage –> 3% to 5% improvement
  • Demand optimization through IT transformation: Forecast accuracy –> 5% to 7% improvement
  • Real-time inventory bucket and store-order visibility: Inventory turns –> 10% to 15% increase
  • Retail-specific KPIs:
    • Workforce productivity –> 2% to 5% increase
    • Customer satisfaction and retention –> 15% to 20% improvement
    • Multi-channel integration and mobile retailing: Cross-channel orders –> 8% to 12% increase

What We’ve Done for Others

HCL’s comprehensive framework leverages best-of-breed solutions from ERP and niche product vendors, which complement HCL solutions, accelerators, delivery tools, frameworks, and processes. These integrated solutions have delivered many valuable benefits to clients:

Supply chain modernization for a leading specialty retailer in Europe, leveraging JDA:

  • 5% to 7% increase in inventory forecasting accuracy, which saved  €700,000 per day in back orders
  • 12% reduction in inventory carrying costs
  • 10% increases in year-on-year productivity through effective incident and problem management
  • 70% to 92% improvement in KPIs 

Multi-channel strategy and implementation for a mid-sized Australian retailer:

  • Accelerated road map definition for multi-channel enablement
  • Enhanced stability and scalability of the e-commerce website
  • 40% improvement in the  concurrency and throughput of applications
  • 30% improvement in response time across all web pages

Retail transformation for a large South African retailer, leveraging SAP:

  • Improvement in meeting strategic objectives, such as rollouts to new countries, on time and within budget
  • Optimized store inventory and service levels through automation of store and damage control replenishment
  • Significant reductions in back-office headcount through automation

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