LCBO, A Large Alcoholic Beverages Retailer, Uses SaaS for New Product Sourcing
The client, LCBO, is one of the world's largest retailers of alcoholic beverages with revenue of $4.21 billion and 600 retail stores.
Business Problems & Challenges
The client wanted to increase new product revenue and improve its new product sourcing process.The company participates in a worldwide network consisting of thousands of suppliers and agents. Moreover, this retailer's product sourcing and lifecycle management process consisted of five internal business processes and their associated computer systems.
A SaaS Product Life Cycle Management System was quickly assembled from pre-built components. The system was successfully rolled out with no disruption to existing operations over a 6 week period during one of the busiest retail seasons.
Results & Benefits
- Within the first six weeks after implementation, over 5,000 new items were submitted by over 600 suppliers and agents.
- Saved $1.2 million dollars annually.
- Increased sales revenue from new product by $130 million.
- ROI of 340 percent.