The retail sector has recently been showing signs of recovery, after a long period of recession in our economy. However, for companies to take advantage of this new context and achieve sustainable growth, it is necessary to do things differently than in the past.
Many companies have invested efforts to review their cost and expense structures – measures implemented by ten out of ten companies in the sector. These initiatives are necessary but, on their own, are not enough to ensure recurring benefits.
However, there is a measure being implemented without much fanfare and that has proven to be powerful enough to overcome the challenge of sustainable growth: the development of management information systems, which has allowed managers to make faster and more efficient decisions, and even identify hidden opportunities.
A good information management system needs to provide input for the decision-making of managers and, for this exact reason, must be very well planned. It is essential to define the level of stratification of data, since the more stratified the information, the better the capacity for evaluation, correlation and decision-making.
Information management systems must enable results to be analyzed, for example, by region, supplier, customer, product or business unit. When expanding the level of stratification, some adjustments in costing and/or apportionment criteria may be necessary. The next steps will be data collection, feeding of information and standardization of tools and analysis visions.
It is important to emphasize that an excellent information management system, without a method, will not generate the expected results.
Therefore, in conjunction with a management information system, it is essential, based on the analyses, to identify opportunities, establish action plans, execute them and periodically control and capture the results.
Development of information management systems
If well-executed, good information systems provide a detailed and systemic vision of the organization.
For this reason, they make it possible to perform various analyses and identify opportunities in all the links of the value chain, ranging from purchase management to sales. The impacts are evident. Following are some examples of how good results are obtained through the use of information management systems in retail companies.
The benefits that companies receive from a good information management system are undeniable. In view of the economic upswing, increased household consumption and, consequently, expected improvements in retail, organizations that plan better and know how to develop their management information system will come out ahead and secure even greater value.
Information management systems – Impacts
Source: Super Varejo magazine – Coluna Melhor Gestão (Better Management Column) – December 2017