Current challenges in the Retail industry include new competitors, new technologies, and access to an over-abundance of competitive information. Companies need to choose the right projects to meet those challenges and remain relevant and solvent.
Legacy systems used for procurement, merchandising, finance, etc. can prove limiting to retailers. Businesses need to decide – do they attempt to innovate on those systems or purchase new ones?
Choosing to buy new means making several critical decisions immediately. Choose wisely and your project succeeds. Choose poorly and it doesn’t.
Here are some ways to choose wisely:
Business Case
Why is your company taking on a system upgrade? Define and document that reasoning. Make a business case for it. List the key requirements for the finished product.
There are usually specific pain points companies are trying to ease.
Examples:
- Improve inventory visibility
- Automate business processes
- Lower fixed operational costs
Whatever the pain points are, document them.
Key Performance Indicators
Next, identify key performance indicators (KPI’s) that measure the performance or return on investment (ROI) of the new system. Ideally, these will come from the end users of the new system.
Find Stakeholders
Now identify and engage with other employees who will be affected by the new system. Their input, support, and ownership are critical to ensure the system will be accepted.
Key Decisions
Lastly, make key decisions early in the project. Stick to them. This helps stay on time and budget.
Examples of typical key decisions:
- Deciding between a centralized or decentralized model for procurement
- Deciding if a company needs inventory management or inventory distribution
Organizational Structure and Culture
Does your company have the right resources and skills to carry this project off? There are ways to assess your internal structure and culture to determine readiness and tolerance levels for a change.
New Team
Do you need to create a team specifically for the project? You might find it easier to pull people from their current Business, IT or Operations role into a new position on the implementation team.
Consider how they would be backfilled, and what role they’ll have after the project is complete.
Lessons Learned
Get insight from past projects, both the good and bad. Learn what not to do from past failures, and what to do from past successes.
Get Commitments
Get commitments and support from key stakeholders and project resources throughout the entire project lifespan.
Systems and Facilities:
What’s the state of your data centers? Investigate how the proposed project will impact the enterprise facility and IT landscape.
These days a big, early decision to make is between implementing an On Premises or Cloud solution.
System Landscape Diagram
Do you have a diagram of all the current systems in use? If not, make one.
Find all key applications, interfaces, and 3rd party integrations your company uses.
This diagram is a key reference document used to design the new solution environment. It highlights what systems or applications will be replaced, which will remain, and how systems are connected.
Update the document once you’ve figured out how the proposed project will change the landscape.
Facilities
If your team is in-person, determine if your facilities will accommodate the project requirements. You’ll probably need conference rooms, whiteboards, and dedicated work areas.
Make sure the space meets COVID requirements.
If you don’t have enough space, consider finding a temporary home for your team.
If your team is virtual, make sure each team member has the right software and can access the internal resources they’ll need.
Rizing Can Help
If you’d rather work with an implementation expert, Rizing is here to help.
Our team has tons of experience helping customers successfully navigate large-scale software implementations. Many of our team members were former customers. We are happy to help you at any point in your journey.
Contact us to learn more.
Related:
Beginning Your Data Journey: How the First Steps Lead to Lasting Success