1 / 18

Benchmarking and Best Practises in the Malaysian Retail ...

Retail Industry. Gross area inclusive of store room, toilet, office, ...

RoyLauris
Download Presentation

Benchmarking and Best Practises in the Malaysian Retail ...

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

    Benchmarking and Best Practices in The Malaysian Retail Industry Sharing Spirit Benchmarking Best Practices factors that can impact profitability the need to collaborate more and make more fact-based decisions though benchmarking Key to success is “customer-supplier collaboration” and “real-time information” Majority of successful companies are already sharing some information with their customers need to understand on how the collaboration and info sharing can contribute to profitability, cost competitiveness, efficiency and customer satisfaction Benchmarking and Best Practices in The Malaysian Retail Industry (cont’d) Benchmark Best Practices Benchmarking and Best Practices in The Malaysian Retail Industry (cont’d) Emphasis on Membership Card Privileges & benefits to enhance relationship with loyal customers Frequently review, innovate and improve own retail concept Respond promptly towards changing consumer spending & behaviour Most products new – fast moving products Good relationship with suppliers Aggressive promotional activities Customers’ payment capabilities Outlets to be more functional in relation to its customers’ logistical requirements Outlets to be more aesthetically pleasing and attractive as shopping destination Best Practices Benchmarking and Best Practices in The Malaysian Retail Industry (cont’d) Creating a culture to make your staff happy Good employee benefits package Motivate staff, ensure employees’ emotional, intellectual & physical well-being Contractual bonus Productivity Incentive program Work/life balance (provides sports & recreational facilities) Service award program Group health plan cover Punctuality incentive, full attendance allowance Structured skills career and development programs Retail Resurgence Initial retail growth 5% but due to SARS outbreak and the Iraq War, drop in April-May to 2-3% Increased customer spending due to: Mega sales promotion help boost sales Bonuses to government servants Improved income and employment MIER projected private consumption to grow from 4.4 to 5-7% next year How can industry integrate and share their experiences and best practices? Benchmarking for Best Practices Benchmarking is the practice of being humble enough to admit that someone else is better at something, and being wise enough to learn how to match and even surpass them at it. Benchmarking is a systematic and continuous process of searching, learning, adapting and implementing the best practices from within own organization or from other organizations towards attaining superior performance - National Productivity Corporation, Malaysia Types of Benchmarking Benchmarking Market related (Competition analysis) Internal Benchmarking External Benchmarking Generic Processes (Best Practice) Branch related (Trend research) Plant related e.g., safety performance measures 3 Basic Issues in Benchmarking Where? Basic issues: Where are you now? Why is your organization at this position vs the other? What can be improved? 112 10 30 90 Company max min mean Why? What? Waiting Time for Admission [minutes] Benchmarking : An Overview Competitive Benchmark What Is Benchmark? A measured “best-in-class” achievement, recognized as the standard of excellence for a particular process Examples: Rate of customer complaint 5% Employee satisfaction rate 95% Customer retention rate 90% Information retrieval time 5 seconds Customer response time 15 min. Medical Cost per Employee RM16.89 MC Rate 0.5% What Are Best Practices ? Examples : Development of in-house trainers and training academy Visual management to inculcate culture of excellence QCC in building knowledge-based workforce Best practices are a relative term indicating outstanding business practices which have been identified as contributing to significant improved performances in leading companies Importance of Benchmarking Benefits of Benchmarking Improves organizational quality Leads to lower cost Creates buy-in for change Exposes employees to new ideas Broadens organization’s perspective A catalyst for learning Increase employee satisfaction Test the internal operating target Raise the level of potential performance Sharing of best practices Understanding world-class performance in-depth Encourage and stimulate innovation NPC Benchmarking Model Community of Practice (CoP) CoP is a small group of people who comes together to explore opportunities for benchmarks and best practices sharing on common interest areas Benchmarking Community of Practices (CoP) Communities of Practices (CoP) SMIs Enterprise50 Headstart500 Productivity& Quality Improvement ASEAN SMIs Process HRM Cycle time Counter Service Call Centre TQM Productivity Utility Power Producers Energy Users Public Sector Local Authorities Project Development Management Counter Service Excellence Organization Construction Klang Valley Johor Baharu Manufacturing Textile Apparel Plastic Injection Plastic Packaging Palm Oil Refineries Electrical Mfg Services Automotive Vendors Services Hotels Hospitals Ports Banks Retail
More Related