Our client is one of the fastest growing organized retailers in India. The client has had a strong business/strategy planning process in place in the recent past. More importantly it has quite effectively used the Balanced Scorecard concept in an attempt to help it implement its strategy and performance manage the organisation. Though it has had initial success with its Balanced Scorecard initiative, the client is seeking to further improve its effectiveness, through Cedar’s assistance in its Balanced Scorecard expertise.
Cedar assisted the leading retailer in the following core areas:
- Enhancement of Corporate Scorecard
- Significant Improvement of Cascaded Scorecards
- Communication and Ownership
For the above, Cedar drew out a Corporate strategy map, revised in such a way so as to streamline the client’s processes. A category management strategy map was also formulated which involved development of forecasting trends, rewards system for the employees & improving product category revenue margins.
This was followed by the operations strategy map, which focused on maximized on customer footfall & conversions. Further, a manufacturing strategy map was created for the retailer with the core goal of growing profitable revenues and ensuring optimal capacity utilization. Lastly, a supply chain strategy map was built to streamline inventory flow & thereby optimize the client’s logistical capacities.
Post, the detailed strategy map review & other department reviews, the final recommendations were then rolled out by Cedar, for the client:
- Department Heads need to actively support, and use the Balanced Scorecard within their areas
- Aligning the Business Planning and Strategic Planning processes to the Balanced Scorecard
- Implementing the action plans identified during the Balanced Scorecard development work
- Implementing KRAs closely aligned to Scorecard/Strategy
- Effectively communicating the Scorecard throughout the organization
- Assigning objective ownership for the rolled out Balanced Scorecard’s