The Power of Digital Transformation in Retail: Driving Growth and Efficiency
About Client
A leading retail chain based in Salalah, Oman.
Over 150 stores spread across Oman, Bahrain and Kuwait.
Offers a wide range of products such as clothing, footwear, home goods and more.
Problem STATEMENT
Difficulty in tracking sales performance across different stores and outlets.
Inefficient inventory management leading to shortages and overstocking at various warehouses.
Inability to predict and forecast stock levels and demands, resulting in high levels of backorders. This caused customer dissatisfaction and lost sales.
Missed opportunities for sales and customer engagement due to a lack of data-driven systems that can aid in informed business decision-making.
Lack of solutions to analyze customer behavior and preferences that can be helpful in targeted promotional campaigns.
No systems to monitor the various stages of the supply chain in real-time due to which there were difficulties in the timely delivery of goods to stores. The limited visibility resulted in increased costs and inefficiencies.
Difficulty in accurately predicting the estimated time of arrival (ETA) for shipments, leading to longer lead times.
Solution
Collected and stored data from multiple sources such as point-of-sale (POS) systems, inventory management systems, and customer relationship management (CRM) systems, into a centralized data warehouse.
We implemented business intelligence (BI) solutions to turn raw data into actionable insights. These solutions helped the company to track sales performance, monitor inventory levels, and understand customer behavior and preferences.
Artificial intelligence models were leveraged to aid in decision-making and automate tasks such as demand forecasting and inventory management.
Power BI dashboards were designed and incorporated into the operations for real-time visibility into key performance metrics, allowing the stakeholders to make informed decisions and take prompt action.
A customized digital solution was implemented to monitor the various stages of the supply chain in real time, providing visibility into the movement of goods and reducing the time it took to get products to stores.
Business Impact
The business was able to track sales performance across different stores and outlets in real time. This helped increase overall sales by 7%.
The efficient inventory management system powered by artificial intelligence helped reduce shortages by 12% and overstocking by 15%.
Backorders were reduced by 27% after the introduction of systems to monitor stock levels and demand patterns. This also helped in improving customer satisfaction and the number of repeat customers increased by 9%.
Delivery lead times were reduced by 26% with the help of the improved supply chain visibility and monitoring system.
Accounting and Finance,Financial Planning and Analysis (FP&A),Operations Management,Procurement and Purchasing,Sales and Business Development,Strategy and Planning
