The Faster, the Better

“Time is on my side.” Norman Meade wrote it. Artists like The Rolling Stones sang it. But working for a retail fixture and display manufacturer, I’ve learned that it’s not always true –especially when store openings and new product rollouts are concerned. We’re constantly working against the clock to get store locations open and product displays put up as quickly as possible so they can start generating revenue for our clients. To me, the phrase “Time is money” seems way more fitting.

Working on this entry, I really wanted to be able to include some ideas about how one could speed up the store opening process. I sought the help of Larry Myer, one of F.C. Dadson’s retail consultants who, as it turns out, is very well-versed on the topic. He offered up these three friendly pieces of advice:

• Create an upfront decision-making process: "By delegating decisions to appropriate team members and assigning deadlines, you can help prevent time-consuming roadblocks in the future."

• Select vendors with adequate inventories and/or manufacturing capacity: "Vendors with large inventories will be able to fill orders quickly. If the product needs to be custom-made, choose a vendor that can accommodate your schedule."

• Communication is key: "Effective communication can do two things. First, it can reduce errors and inefficiencies both internally and throughout the supply chain. Secondly, it can help improve vendor and supplier performance when used as a feedback mechanism. Enhancing the effectiveness of your employees and your supply chain is a sure-fire way to speed up the process."

For those of you lucky enough to be attending the International Franchise Association convention later this week, Mr. Myer will be co-facilitating a roundtable on this very topic where even more ingenious ideas are sure to be discussed.

For the rest of us, Larry wrote an article referencing a presentation he gave a while back which I have dug out of the files and posted to our website for your viewing pleasure. Read it here.