Cracking the Global Business Services Code for Retailers
The retail industry is facing several challenges, including ever-changing consumer preferences, the rise of small and medium-sized enterprises (SMEs) and the post-pandemic impact on supply chains. These challenges are leading to shrinking margins and increased pressure to maintain profitability. One way that retailers can improve profitability is to consolidate operations and create shared services. This can help in generating cash and freeing up resources for transformation and innovation. Whilst a lot of retailers have embarked on this path, it is limited to enterprise support functions like Information Technology, Finance and Accounting, Human Resources, Customer Service, and Data. Core functions like Planning and Buying seem to be relatively un-explored due to reluctance and perceived risk.
Read this paper to find out how shared services can be integrated into business operations to help retailers achieve better profitability while accelerating their digitisation journey.
