Retail
Today's retail business challenges have dramatically shifted. The scale of US retailing has continued to grow and at the same time continued to consolidate. This creates increasingly specialized opportunities for leverage among large retailers and increasingly challenges the ability of smaller retailers to compete. Synoptek works with retail clients to determine ways to increase their market appeal, improve their competitiveness and enhance their operational capabilities.
How Can We Help?
Synoptek consultants have experience developing growth strategies, distribution strategy and IT strategy. We understand the operational processes both within the store, within the distribution centers and those centralized processes such as merchandising, inventory management, replenishment, buying, finance and accounting. Our industry experience gives un an understanding of the subtle differences in how forecasting, ordering and distribution vary for different product categories based on their demand, physical and supply characteristics.
Strategy
Synoptek helps retailers evaluate new growth and operational strategies. We work with executives, suppliers and customers to identify strategic opportunities. Based on the underlying competencies of the retailer — we determine which strategies are most likely to succeed based on a risk and return comparison.
Operations
Synoptek has worked with retailers to dramatically improve operations. We have re-engineered merchandising processes, implemented new merchandise planning solutions and implemented integrated merchandising solutions. Synoptek is familiar with those frameworks and metrics that drive the right behaviors for merchandising — if merchandisers are driven by category revenue or GM goals rather than GMROI — a retailer will likely experience high inventory levels. Synoptek has helped retailers shift their focus to new metrics and achieve significantly higher performance. We have helped our clients introduce practices that give retailers a competitive advantage in terms of selection, focus/competence and value for the consumer.
Project and Program Management
Most importantly — Synoptek gets things done. Regardless of the problem you are trying to solve or the change you are making to your business is — we will help you get it done? Synoptek leverages industry experience and broad process and systems knowledge to manage projects to fruition for retail companies. Representative projects include:
- Established a scalable store development process and organization for a rapidly expanding Quick Service restaurant
- Implemented private label apparel program for large Japanese retailer
- Developed IT Strategy for 2nd largest Japanese retailer
- Designed and implemented new merchandise planning process and system for 2nd largest US discount retailer
- Evaluated and deployed a new POS system for a large retailer
- Developed an e-Commerce strategy for large DIY retailer
- Integrated merchandising system selection and implementation
- WMS implementation
Representative Clients
- Ace Hardware –
- Calphalon – cooking stores –
- Potbelly Sandwich Works –
Our consultants have also worked with companies like Kmart, Menard's, Jusco, Talbot's and Isetan.