Situation Analysis
Running for Glory (RfG) is a small running store in Seattle, WA that has been in business for 40 years. They specialize solely on the running community and have established a loyal follow over the years. They are owned and operated by four active partners. RfG has failed to keep up with technology and can only keep track of their inventory with help from suppliers. The only data collected from their point of sale (POS) system is total sales. They are looking into expanding but are unsure if it’s a good business decision.
Problem Identification
RfG lacks customer and operational data and the technology to acquire such data. The absence of their technology advancement over time has the company at a disadvantage in the market place and are incapability of make good business-based decisions about possible future expansion. The need an in-depth POS to capture customer demographics. Thus, identify their target market and prepare a customer profile. In addition to this we have identified the need for increased operational …show more content…
Both deficiencies can be solved with an POS system geared toward small business. Inventory will be scanned using its barcode as its received. Upon sale of the item will be scan a second time essentially removing it from inventory. Sales data can be extrapolated to set order points and adjust inventory as needed. The POS can also pull data from credit card transaction to help create customer profiles.
Conclusion
In conclusion, RfG needs to update its technology (in particularly its POS system) to build its customer demographics data and to optimize the checkout process. The POS system will have an added benefit of solving inventory management issues. Giving them, some bargaining power with their suppliers. After an ample customer data is gather a business-based decision can be made on where and when to expanded.
Running for Glory (RfG) is a small running store in Seattle, WA that has been in business for 40 years. They specialize solely on the running community and have established a loyal follow over the years. They are owned and operated by four active partners. RfG has failed to keep up with technology and can only keep track of their inventory with help from suppliers. The only data collected from their point of sale (POS) system is total sales. They are looking into expanding but are unsure if it’s a good business decision.
Problem Identification
RfG lacks customer and operational data and the technology to acquire such data. The absence of their technology advancement over time has the company at a disadvantage in the market place and are incapability of make good business-based decisions about possible future expansion. The need an in-depth POS to capture customer demographics. Thus, identify their target market and prepare a customer profile. In addition to this we have identified the need for increased operational …show more content…
Both deficiencies can be solved with an POS system geared toward small business. Inventory will be scanned using its barcode as its received. Upon sale of the item will be scan a second time essentially removing it from inventory. Sales data can be extrapolated to set order points and adjust inventory as needed. The POS can also pull data from credit card transaction to help create customer profiles.
Conclusion
In conclusion, RfG needs to update its technology (in particularly its POS system) to build its customer demographics data and to optimize the checkout process. The POS system will have an added benefit of solving inventory management issues. Giving them, some bargaining power with their suppliers. After an ample customer data is gather a business-based decision can be made on where and when to expanded.