With millennials expecting personalized service, new product launch and advertising are not sufficient for revenue and profit growth. Customization usually brings supply chain complexity and higher costs. Significantly higher prices for personalized services is likely to turn off millennials and provide opportunities for new entrants. To avoid this trap, Estee should drive customization but in a cost-effective way. Ok, that all sounds great… but how?
To attract and retain customers through customization, companies will have to develop products that meet target segment needs, produce in smaller lot sizes, and segment supply chain by demand pattern. Traditional cost reduction approaches focused on headcount reduction and supplier price negotiation are not effective to reduce complexity cost. It could be counterproductive.
To help you navigate the new rules of business disruption, I’ve created a whitepaper that summarizes all the steps needed to implement this revenue strategy successfully. You can also reserve an hour with me to refine your customization strategy. I promise that you and your team will walk away with at least one or two ideas you can immediately implement.
About the Author
Suman Sarkar has consulted with leading Fortune 100 companies globally. With more than 20 years of international consulting experience, Suman has a proven track record for bringing innovative approach to business excellence through supply chain and sourcing.
Book – The Supply Chain Revolution (AMACOM)
The book details other strategies to thrive in this new paradigm. Such as:
- Attract and retain customers through customization
- Respond faster to market demand
- Increase revenue and profit from innovation
- Succeed with alliances
- Invest smartly in brick and mortar stores
What Others Say
The Ideal Supply Chain Primer for the Time-Pressed CEO or Government Executive ~ Richard Connelly, Hall of Fame, Former Budget leader, Energy Director, Defense Logistics Agency (Department of Defense, USA)
A Thought Provoking Book ~P. Venkatram, Vice President, APAC Planning & Logistics Head, LEGO
Wonderful Book for Supply Chain and Business Leaders ~Mary Anne Gale, Retired VP Supply Chain, Procter & Gamble