Imagine you own a brick-and-mortar business in retail, and with consecutive lockdowns you are

worst hit in pandemic. What operational efficiency would you like to bring in your business to make

a turnaround strategy? Explain with perspective of Supply Chain, IOT, and adoption of industry

4.O technology to overcome the challenges faced by you.

Brick and Mortar in Retail

Diagnosis

For a turnaround strategy, the diagnosis of the following business value chains is a must, in order
to incorporate the industry 4.0 components at an individual level.

The Business diagnosis can be achieved in the following levels: -

 Suppliers
 Inbound Operations
o Human resource management
o Firm infrastructure
 Outbound Operations
o Procurement
o Marketing sales and service
o Technology Development
 Customers

Suppliers

 Suppliers include Service providers (electricity, water, telephones, IT, email, website hosting,
stationery, facilities, transport, etc.)
 Subcontractors
 Manufacturers
 Distributors
 Importers

A means to create transparency in the above stakeholders can be achieved through a dedicated
vendor management system

A vendor management system is an Internet-enabled, frequently Web-based tool that helps

businesses manage and procure staffing services, including temporary and permanent placements,
as well as outside contract or contingent labour.

Advantages of incorporating a VMS:

 Enhance the standard of your services.

 Increase the efficiency of your operations or finances.
  Reduce your expenditures.
 Increase the number of people who can use your services.
 Increase the speed with which services are delivered.
 Concentrate on your primary business functions.

Inbound operations:

Human Resource management:

Staff training

 Employees are guided through customised modules using new interfaces that include
graphics, video, voice, and feedback.
 Workers may check their work as they learn using IIoT connected devices (cameras, scales,
and barcode scanners).
 Real-time data enables supervisors to provide personalised, data-driven feedback to their
staff, allowing firms to adopt a "deep practise" approach and streamlining the entire
learning process.
 Engineers can create bespoke training programmes for their specific outputs using
Manufacturing Apps.
 Wearable sensors detect employee motions, allowing them to learn more quickly and
identify new opportunities for process improvement.
 Workers are immersed in their training thanks to augmented reality (AR) glasses and
displays.

Firm Infrastructures

An infrastructure that integrates smoothly to the complete ecosystem of tools required to deploy
and manage apps

A provision to integrate the existing firm architecture with hybrid components covering the

 Hardware
 Software
 Networking components
 Operating system (OS)
 Data storage

Outbound Operations:

Procurement

Procurement management tool:

Procurement management software aids people involved in all phases of the procurement process
in rapidly and easily navigating complex requirements. Procurement management systems allow
customers to improve internal operations and duties rather than tracking large groups of suppliers
individually to assure compliance and performance.

Advantages of using a procurement management tool

 Purchase orders, invoice processing, and other P2P operations have shorter lifecycles.
 Transparency and visibility of procurement spend have improved.
 Spending management and security have improved.
  Optimization of the supply chain

Marketing Sales and Service

A digital infrastructure that covers the following aspects by virtue of a sales acceleration,
gamification and intelligence software

 Management of customer relationships (CRM)

 Market research and sales.
 Prospecting and lead management.
 Reporting and analytics

Consumer and Technology developments

Synergising technology with consumer preferences to provide a real time value analysis of goods
and services to the consumers.

Mobile Application

 Advantages of mobile application

o Build a stronger brand
o Connect with your customers quickly and easily
o Provide more value to your customers.
o Increase customer loyalty.
o Have a Competitive Advantage in Your Field.
o Build a direct and personalised marketing channel
o Use social media channels to increase customer engagement.

Website

 Advantages of using a retail website

o Customer contact that is direct and individualised.
o Customer retention and loyalty have improved.
o Customer information (email, browsing/purchase history) is completely accessible.
o Faster resolution of disputes.
o Business decisions, operations, products, and services are all optimised.

Digital Payments

Customers are offered a seamless payment means to include digital and verified wallets as payment
options leading to

 Improved comfort
 Time-saving
 Better expenses tracking
 Enhanced security
 Special rewards
 Lower costs
Customer feedback trackers

Customer is the KING, including a customer as part and parcel of the business is of primary
importance and can be done via the following

 Long form-based surveys.

 Short in-app surveys
 Phone calls
 Transactional emails.
 Net Promoter Score Surveys.
 Suggestion boards