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8, to invest in small firms to test out new technologies – such as advanced data analytics or new ways to deliver products – before bringing them in-house. But it does this at a lower cost by pulling merchandise from its other larger mall-anchored stores and web site instead of keeping inventory for purchase in stock.
These manufacturing and logistical choices used to be made qualitatively by merchandisers. It turns out that the results are much better when humans are removed from the decision-making process. VirtuOz is far from the only technology delegating to humans. But the system could also delegate in a “smart” way.
Time moved on, and during the nineties technology overran, and transformed the creative industry like it did most others. Our technology whizzes along at the velocity of a speeding electron, and our poor overtaxed neurons struggle to keep up. Economically I probably helped shift some merchandise. But here’s the thing.
“I’m pretty convinced that there are superficial differences in culture and communication and how people do things,” said the global humanresources officer. In the 1990s, P&G, like other companies, sought to take advantage of global scale and technology platforms, rolling out their products worldwide.
As the industry moved toward an emphasis on customer service and merchandising, the company fell behind, because its employees were focused more on increasing inventory turns and sales per square foot. For example, at a grocery store chain I worked with, employees were steeped in an operations culture that valued efficiency and productivity.
At one American retailer, an autonomous ensemble of algorithms replaced the entire merchandising department. Audit software and human monitors were soon installed to assure compliance. They frequently find the technologies are less of a hassle than the people. Data scientists here facilitate. All-In Autonomy.
Second, they are better at adapting to changes in customer demand, technology, and regulation. There are also differences in the merchandise mix of different companies. In my research, I’ve found that retailers using an employee-centered operations strategy, which I call the good jobs strategy , have two strategic advantages.
Zhou departed in 2005 and went on to found Qihoo 360 Technology, a $12 billion company that now trades on NASDAQ. The previous year the company had generated more than $4 billion in gross merchandise sales through its platform, yielding about $50 million in revenue. Not surprisingly, this didn’t sit well with the local team.
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