029: 5 Big Challenges With Retail Operating Models

Your retail operating model allows you to consistently run your retail operation reliably across an estate of shops for your customers and your shareholders. Discover 5 of the big challenges that businesses come up against with their retail operating models and get the actions that you need to take to overcome these challenges.

In this episode, you’ll discover:

1. Why you need an operating model.
2. What are 5 of the most common challenges that retail businesses run into.
3. What action you need to take to overcome each.

Plus, find out exactly why I am talking about Forrest Gump and a box of chocolates. Oh, and apologies for the bad impression too!

 

 

Why I love retail operating models

Perhaps I’m just a geek, but I have a passion for finding and delivering the right retail operating model. Maybe, it’s based on my engineering heritage and the structure that it brings. Having worked for Tesco, I saw some of the world class practices and ways of working when it comes to retail operating models. In fact, there are so many benefits to having a great operating model and using it effectively. (But, you’ll have to take a listen to find out why!). 

Also, I’m often asked “what is the best retail operating model?” Well, it’s a bit like asking what’s the best personality to have. Each retailer should have the operating model that suits them. You can’t copy it from another retailer.

Also referenced in this episode

In this episode, I also mentioned 2 extra episodes that I think you’ll enjoy. 

In episode 25, you can find out how to define a purpose and ultimately stay relevant for your customers. 

Listen to episode 25

Or in episode 26, I gave you a way of turning that purpose into a clear and coherent operating model that will deliver what your customers are asking of you. 

Listen to episode 26

Get in touch with Oliver Banks

Talk retail operating models with Oliver Banks – either for a chat or if you need help overcoming a challenge with your retail operating model.

By email    Oliver Banks on LinkedIn    @ollie_banks on Twitter

Download the Transformation Trifecta

In the episode, I mentioned that you could pick up a copy of my free Transformation Trifecta which shows you the 3 elements that you need to carefully look after to ensure that your transformation will be a success.