Retail Business Architecture
Avoid starting from scratch your business architecture model by using th IRIS Business Architect Retail Reference Model Example. Here’s an example of it in this 6-minute video or take a look at this 42-slide presentation that was used to make the video.
Retailers seek different benefits from the use of IRIS Business Architect. Here are a few that can be pointed out:
- Better decision-making ability. The use of IRIS Business Architect helps retailers comprehend the complete impacts of decisions before making them, therefore reducing risk for each decision.
- Driven and cohesive strategy. IRIS Business Architect can contribute in decoding business strategies into action and focus investment toward initiatives that have higher returns.
- Agility in business and information technology execution. The use of IRIS Business Architect makes it easy to have a repository of reusable business architecture content for each of your service business units and defined processes that decode strategies into execution significantly speeding up an enterprise’s ability to recognize and implement all necessary changes.
- Higher operational effectiveness and capacity for growth. IRIS Business Architect helps retailers structure and rationalize business operations for efficiency and scalability.
Retailers are currently facing challenges that need to be addressed swiftly, preferably using IRIS Business Architects, to ensure optimal cohesion between a communication provider’s corporate strategy and its execution within each of its service business units. Here are some of these major challenges:
- To insure better responses to the customers’ ever changing demands and keep inventory of obsolete products as low as possible, retailers need to implement and execute strategies to increase retailer-supplier collaboration on a daily basis to design, manufacture and merchandise the right product to the right customer at the right time and in the right way.
- Retailers in hybrid online commerce are increasingly shifting their strategies to prescriptive personalization user experience methods, i.e. from this product orientation to a “customer first” problem solving approach. Rather than relying on customers to know what they want when they land on a site, companies want to be able to prescribe personalized solutions for customers based on the information and data the retailers have available, by selecting, implementing and using new social, mobile and data analytics software tools and adapting them to function in synchronicity with their current supply-chain system.
- Retailers are beginning to introduce and implement strategies to avoid having their business units working in silos while serving their customers using a combination of traditional stores, online commerce and other channels at their disposals using better communication tools and upgrading their merchandising software systems.
- Retailers using mobile e-commerce need to implement strategies, optimize user experiences, anticipate consumer intent and eliminate process barriers in such a way that it becomes possible for their clients to close consumer transactions in less time than the time-to-abandonment, which is only a slim 14 seconds.
- “Tap and go” mobile payment shopper experiences is being pushed by Google, Amex, banks, telecom carriers, forcing retailers to adopt partnership strategies that will ease their customers’ experience, maintain or increase their profitability and keep risk as low as possible during this process.
- Retailers will continue to implement partner strategies with their suppliers, including consumer packaged-goods companies, to collaborate sometimes on the design and production, and often on merchandising and co-marketing of new launched products, using various traditional and digital marketing methods.