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What Omnichannel Really Means - Forrester Webinar

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Omnichannel is one of the most abused buzzwords in retail. But, in a world of digitally connected consumers, developing and implementing a solid omnichannel strategy is critical to the long-term success of a retail business.

During this webinar featuring Sucharita Mulpuru-Kodali, one of Forrester’s most distinguished analysts, we’ll review the most fundamental considerations of an omnichannel strategy, including:

- Setting realistic goals and expectations for your organization
- Building out a step-by-step plan with manageable phases
- Deploying best practices while managing to a budget
- Leveraging core order management functionality to pull the strategy together

You’ll walk away with valuable insight and practical information that will guide your omnichannel goals and investments.

Published in: Technology
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What Omnichannel Really Means - Forrester Webinar

  1. 1. Going Beyond the Buzz: What Omnichannel Really Means Sucharita Mulpuru-Kodali, VP & Principal Analyst, Forrester Scott Todaro, CMO & EVP, Freestyle Solutions May, 19 2016
  2. 2. • The presentation is approximately 35 minutes in duration • Please use the Go-To-Webinar chat window to ask questions • Questions will be answered at the end Webinar Logistics
  3. 3. Agenda • About the speakers & Freestyle Solutions Overview • Setting realistic goals and expectations • Building out manageable, phased plan • Deploying best practices while managing to a budget • Leveraging an OMS to pull the strategy together • Q & A
  4. 4. About the Speakers Sucharita Mulpuru-Kodali, Vice President, Forrester • 11 years at Forrester covering eCommerce forecasting and trends, merchandising best practices • Saks, Toys R Us, Disney • RIS New Most Influential Person in Retail - 2016 Scott Todaro, CMO & EVP, Freestyle Solutions • 16 years in eCommerce and retail • Leadership positions ecommerce leaders: ATG, Demandware, AisleBuyer, DMI • Guest lecturer at industry events
  5. 5. About Freestyle Freestyle Solutions Company Overview • Formerly Dydacomp, a company started by retailers for retailers • 30 years experience building order and inventory management • Invented Order Management as a software category in 1985 • Over 2,000 live customers in retail and consumer brands • Largest OMS feature set offered for mid-market (over 1,100 features) Freestyle Solutions Top 20 Most Promising Tech Solution Providers for Apparel & Textile Industry 2015 Innovation & Excellence Award Most Innovative Management Solutions Company USA
  6. 6. Partial List of Over 2,000 Freestyle Solutions Customers
  7. 7. Only OMS Provider Multiple Delivery Models On-Premise Freestyle Omnichannel Management Service (O.M.S.) is a cloud-based order and inventory management system developed specifically for mid-market B2C companies Freestyle Multichannel Order Manager (M.O.M.) is the most comprehensive on- premise order management system designed for mid-market B2B and B2C companies SaaS
  8. 8. Beyond the Buzz: What Omnichannel Really Means Sucharita Mulpuru, VP & Principal Analyst May 19, 2016
  9. 9. © 2016 Forrester Research, Inc. Reproduction Prohibited 10 Retail is Increasingly Competitive 5.96% 4.97% 1.62% 1.97% 11.49% 6.08% 7.09% 3.18% 27.08% 22.13% 19.46% 21.59% 1.91% -2.56% -5.21% -2.68%0.88% -3.10% -13.70% -4.88% -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% 30% Year-over-year total revenue growth Walmart Costco Amazon Staples Best Buy 2011-2012 2012-2013 2013-2014 2014-2015
  10. 10. © 2016 Forrester Research, Inc. Reproduction Prohibited 11 Omnichannel is a Growing Retail Priority 2013 2014 2015 Mobile #2 #1 #1 Omnichannel #5 #4 #2 Marketing #7 #3 #3 Site merchandising #1 #2 #4 International expansion #4 #7 #5 Site replatform #9 #5 #6 Rank of priorities for online merchants Source: State of Retailing Online 2015 (Forrester/Shop.org)
  11. 11. © 2016 Forrester Research, Inc. Reproduction Prohibited 12
  12. 12. © 2016 Forrester Research, Inc. Reproduction Prohibited 13 Omnichannel Fulfillment Common Problems What’s next Endless aisle • Not exposing much of store inventory (i.e. too many “onesies”) • Inability to find the inventory easily (especially in big box or apparel stores) RFID In-store pickup • Low traction because a small percent of inventory is available for this option • High cancel rates Ship to store or other address option Ship from store • Splitting orders • Inventory too varied by store to generate efficiency Better store associate training and monitoring Cross-channel returns • Long-tail items can’t be easily reintegrated without markdowns Improved ship from store; selective marketplace offerings; RTV and RMAs Same day delivery • Very limited inventory • Dependent on VC funded startups More retail showrooms with IKEA-like models where relevant; owned retailer distribution; new technology Omnichannel Today
  13. 13. © 2016 Forrester Research, Inc. Reproduction Prohibited 14
  14. 14. © 2016 Forrester Research, Inc. Reproduction Prohibited 15 Domino’s
  15. 15. © 2016 Forrester Research, Inc. Reproduction Prohibited 16 Omnichannel Will Address Many Things
  16. 16. © 2016 Forrester Research, Inc. Reproduction Prohibited 17 “Process” Can Be These Four Things
  17. 17. © 2016 Forrester Research, Inc. Reproduction Prohibited 18 A Typical Channel-Centric Retail Organization Structure
  18. 18. © 2016 Forrester Research, Inc. Reproduction Prohibited 19 Some Retailers Have Tried To Foster Channel Synergies With An Omnichannel Function
  19. 19. © 2016 Forrester Research, Inc. Reproduction Prohibited 20 A Customer Obsessed, Future State Retail Organization Structure
  20. 20. © 2016 Forrester Research, Inc. Reproduction Prohibited 21 Best Practice Omnichannel Environment Order Management will be at the center of it all
  21. 21. © 2016 Forrester Research, Inc. Reproduction Prohibited 22 OMS Will Drive the Omnichannel Experience
  22. 22. Thank you forrester.com Sucharita Mulpuru smulpuru@forrester.com @smulpuru
  23. 23. Leveraging OMS to pull it all together
  24. 24. • Merchandising systems • WMS • POS • CRM • eCommerce platform • ERP • Order Management • AS400 Where Does Retail Information Reside? Retail has been around a long time, and there are many systems in place that were purchased at different times for a multitude of reasons
  25. 25. • Hire a systems integrator to stich everything together • Start a 7 year plan to slowly change over all your systems • Set up manual processes to overcome technical shortfalls Options to date: It’s Just Too Expensive to Buy All New Systems Changing all your systems at once is not an option
  26. 26. OMS is System of record for orders and inventory, but not transactions OMS Today Website Mobile Call Center OMS WMS
  27. 27. The OMS can be the system of record for most major retail data types In the Future the OMS Will Be The Information Repository Omnichannel Management Orders Inventory Product Customers
  28. 28. The Future System All customer and employee facing systems pull from a central repository of retail data
  29. 29. Thank You! Scott Todaro CMO & EVP Freestyle Solutions (M) 617-823-2962 Scott.Todaro@Freestylesolutions.com Freestylesolutions.com
  30. 30. Question & Answers

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