IN September, OK Zimbabwe highlighted a plethora of challenges that are affecting their business operations. The challenges noted by the retail firm eroded their profits significantly, ultimately threatening their continued existence, given the precarious environment they are operating in.
On a positive note, OK Zimbabwe mentioned some integral points that it was going to focus on to boost sales and continue to keep the brand robust.
Albeit, the company mentioned that it was operating at volumes that were below their breakeven point. They have indicated in their recent address that they will focus on certain key aspects to set them on the right trajectory as far as making profits is concerned.
The enterprise resource planning (ERP) refers to software that helps to run an entire business. It assists with key facets of the business, such as finance, human resources, manufacturing, supply chain and procurement. The ERP has become an integral part of most businesses. It is now in full swing at OK Zimbabwe and has been imperative in ensuring that the integral parts of the business are efficiently run.
The ERP system has also attributed in enhancing seamless customer service integration.
Ok Zimbabwe, as part of its growth and diversification plan, seeks to engage in future partnerships with other large retailers, such as Shoprite South Africa. Many will agree that, such partnerships are imperative as far as growth is concerned and it also signals international presence, which ultimately grows the brand and the profits.
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The plan to engage in partnerships is a move in the right direction in a bid to expand the retail business. It is also prudent to bring more money transfers agents on board because remittances have become a major component of the economy which stands to reason that there’s there is potential income from commission associated with these.
It was evidently clear in the earlier challenges noted by OK Zimbabwe in September that overheads were eroding their profits and affecting operations significantly.
It is in this regard that the large retailer seeks to implement robust measures that will reduce their aggregate expenses by a large margin to aid in boosting profits.
If put into praxis, reducing overheads naturally leads to efficiency.
It is apparent and clear that the world has evolved into a completely digital age, hence, imperative and integral to ensure that OK Zimbabwe embraces all the technology at its disposal to enhance sales and address changing customer needs.
It is impressive that the retail giant is cognisant of technological needs that should be addressed to suit ever changing customer preferences.
Most customers have since moved away from the primitive ways of doing business. Hence, it is very critical to address customer needs by introducing online platforms to push sales and other commerce services which require online presence.
- Nyatanga holds a Bachelor’s degree in Banking and Investment Management — +263 784 909 184 or blessnyatanga@gmail.com.