COVID-19 and the Impact on 2020 IT Retail Industry Projects
Are you prepared to reopen closed stores?
As COVID-19 continues to affect all sectors of our daily lives, one thing is certain, behind the scene retail issues are building. Left unattended these could be disastrous for stores when they reopen. The need to evaluate business continuity is more important than ever before. Staffing, networks, systems, processes, vendors, and partners all need to be prepared to be back in business when you’re able to reopen.
While it’s been essential for many retailers to take immediate actions related to staff furloughs and other cost-containment measures during the pandemic, it’s just as critical to prepare for when your stores reopen. Points to consider based on the current social distancing mandates, and essential and non-essential business needs must be addressed.
Prepare Now to Reopen Stores to the New Normal
During these unusual times, the focus should be on the future. There is an opportunity in using this moment to take stock in your systems and processes. Think long term and act now to make 2020 a profitable year ahead.
The following questions address critical issues you should be able to confidently answer to plan for the reopening of your retail stores. These are not limited to a pandemic, but applicable to other events or disruptions of a similar magnitude. Is your company prepared?
• How will your inventory deployment systems account for the gap in sales for the last several weeks?
• Will your POS systems be ready and updated with the latest revised pricing, promotions, current inventory levels, and hierarchy changes?
• How will you drive traffic to your stores?
• What fundamental business decisions has your company made that may impact how you start up again?
Shaping a Different Retail Landscape
It would be nice to think that once your doors are open and the lights are on, you’ll be ready for business. However, there are many details you need to be planning in the stores, at the home office, and in the supply chain now to resume operations as quickly and smoothly as possible. With the right planning and perseverance, you can emerge stronger than ever.
Retailers are resilient and now is the time to plan for the reopening of your stores. While there are many areas to evaluate as each retailer is unique, here are some of the most important.
Think Long Term, Act Now
RPE is uniquely qualified to help customers traverse the new normal of retail. In communication with a broad spectrum of retailers, our seasoned retail experts understand the challenges during these unprecedented times. RPE expertise expands across many different inventory deployments, POS systems, planning and pricing solutions.
Retailers are enlisting the help of industry experts to help build a new tomorrow, RPE can help you position your business to take advantage of the anticipated economic recovery.
Make an appointment with an RPE expert to talk through the decisions your company needs to be considering now to provide recommendations in the recovery of your business.
• Strategic IT Planning
• Process Improvement
• Project Management
• Package Selection
• Requirements Definition
• System & Software Upgrades
• Modifications & Programming
• Systems Optimization
• Integration & Interfaces
• Systems Implementation
• Post-implementation Support
• Hosting & Managed Services
• Staff Augmentation
Retail Software Solutions
• Product Lifecycle Management
• Sourcing & Demand
• Planning & Allocation
• Order Management
• Distribution Center Management
• Business Intelligence
• Point of Sale