A 500 store, $7.5 billion Northeast-based retailer struggled to meet revenue and margin goals and was challenged to identify and manage initiatives to improve EBITDA across a 60, 90 and 180 day time horizon.
The management team needed a shift in organization culture – and the necessary tools and processes – to a more “action and execution” mindset to improve business performance.
Lack of a consistent and effective way to identify high-impact initiatives – and accurately quantify their impact – across various functional teams made it difficult to drive change and performance improvement.
Radian developed a structured process to identify the range of possible options, define initiatives, establish financial metrics, assign initiative ownership, and manage the various projects through implementation.
Clearly delineated CEO role and sponsorship ensured all functional areas were involved to gain consensus and drive quickly to implementation and value capture.
Led and managed a two-week initiative collection and management process, followed by six (6) months of initiative analytics, reporting, and issue identification.
Developed an efficient process to capture and prioritize prospective initiatives and created performance scorecards based on expected results (cost reduction, new business acquisition, sales and margin growth, etc.).
Developed and communicated the process to all participants and developed quick and efficient process training guidelines.