After a long stable period of little innovation in business models, the food retail industry is now simultaneously consolidating and differentiating with more store concepts, formats or new click-and-collect options in response to online retailers and new digital business models. Traditional chains have to rethink permanently their approach and this means to simulate, plan, execute and measure results at a faster pace than ever.
Not a big surprise… The problem is that the existing plethora of tools on the market have not delivered against their promises to simplify and improve decision-making through better modelling, simulation, forecasting, what-if analysis and collaboration. Often they do not even ensure the performance required for dealing with thousands of SKUs, hundreds of stores and multiple promotion formats.
Despite all the marketing buzz around integration, grocers still have to implement several modules, going through heavy technological plumbing and data wrangling to cover their key planning and analysis steps: just as an example; Category, Price and Promotion Management.
Furthermore, all these processes are normally served by a poor Business Intelligence solution; they are disconnected from the corporate financial planning and budgeting and they need external analytics when it comes to forecasting or clustering capabilities….
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