In the first CIO keynote from NRFtech, Joshua Jewett, SVP and CIO of Family Dollar Stores, outlined why the company chose to use a software-as-a-service (SaaS) approach for an inventory management project, instead of either trying to accomplish its goals internally or outsourcing the project completely.
Family Dollar CIO and SVP Joshua Jewett
When evaluating a new project, Jewett said, most retail execs think: “Should we buy it or build it?” But SaaS offers a different alternative.
After an incredible amount of debate and analysis, the company chose to take the SaaS approach. Family Dollar selected a vendor, piloted the program in more than 100 stores, and rolled it out company-wide. By all accounts, it was a huge success.
When asking yourself if you’re ready to implement a SaaS offering, retailers should take three considerations into account, Jewett said:
Collaborate with your business partners
- Become an informed and trusted advisor
- How best can you drive value?
- Seek out alternatives
Evaluate your situation
- Does the application require heavy customization?
- Is heavy integration required?
- Is there a competent provider available?
Evaluate your readiness
- Is the infrastructure ready? Is your organization ready?
- Do you have the expertise needed?
- Is training required?