Before we recommend an approach for executing your strategy, let’s delve deeper into the world of strategy execution in two steps: 1. Layout the common theme amongst all the popular strategy execution frameworks 2. Investigate some strategic frameworks for business units to understand how they bring out this common theme. Without these frameworks, businesses typically… Read more
Introduction Decision clarity in an organization requires two essential parts: knowing what decisions to make and who should make them. Decision rights often belong to the C-level management team, but competent employees can have decision rights depending on the tasks. Organizations can enhance their efficiency and ensure optimal outcomes by implementing a systematic approach to… Read more
Introduction In the dynamic and competitive business landscape, accurately predicting customer demand profoundly impacts an organization’s success. According to a survey conducted by Forbes, 85% of brands shared they have blind spots within their supply chains, causing customer demand issues. The most popular Demand Planning KPIs include forecast accuracy, forecast bias, Mean Absolute Percentage Error… Read more
Introduction Step into the dynamic world of business, where the ability to conquer costs holds the key to accessing remarkable success. Among the arsenal of business strategies lies a true gem: Key Performance Indicators (KPIs), the relentless warriors in the battle for financial control. Monitoring these KPIs can help organizations control costs, make informed purchasing… Read more
Introduction “Good plans lead to good outcomes” is a statement that is only half true because it takes execution out of context. Planning is only one half of the success story; executing the plan is an entirely different challenge. Only good plan execution can produce good outcomes. Businesses start with impressive ideas only to struggle… Read more
Introduction In the world of retail, there might be situations where you may feel like you are stuck between a rock and a hard place, this out-of-stock (OOS) situation is one such scenario where you might deal with a detrimental effect on both customer satisfaction and a company’s bottom line. To assess the financial impact… Read more
Introduction Imagine walking into your favorite retail store. As a shopper, you’re trying to find that perfect item. Now switch roles – you’re the store owner watching the sea of customers. What’s going through their minds? What makes them fill their baskets? Units Per Transaction (UPT) is the magnifying glass that brings customers’ buying habits… Read more
Introduction For a growing business, structuring teams for maximum efficiency is imperative. An effective business unit model can make a difference in success. A business structure ensures better financial efficiency and organization. This guide explores what a business unit entails, the types of business units to choose from, and the pros and cons, and informs… Read more
Introduction Managing inventory is akin to walking a tightrope; you must maintain enough stock to meet demand, but not so much that your capital is tied up and gathering dust. Improving material management is a continuous process that is aided by helpful metrics. Inventory Carrying Cost is an essential metric that sheds light on the… Read more
Introduction Onboarding new employees efficiently ensures a smooth transition, maximizes productivity, and fosters long-term success. Organizations that adopt a structured onboarding program have the potential to experience a significant improvement in employee retention rates, with a potential increase of 50% among newly hired individuals. In this blog post, we will explore the concept of employee… Read more
Introduction In today’s fiercely competitive business environment, measuring key performance indicators (KPIs) is crucial for organizations to evaluate their success and identify areas for improvement. One such important KPI is the Reopen Rate. In this blog post, we will explore the definition and formula of Reopen Rate and understand its significance in tracking customer satisfaction… Read more
Introduction Making the correct decisions can be intimidating in everyday life, especially regarding business. Business decisions involve numerous data points, team feedback, and leaders’ preferences and biases. Business leaders can fall victim to the availability heuristic bias instead of taking actionable steps to attain understanding. The only way to achieve decision clarity is to rely… Read more