Home Decor Market Analysis
The global developments and expansion in the real estate industry, have supplemented the growth of the home decor market. Additionally, the growing consumer preference toward usage and adoption of eco-friendly products, known for their nominal impact on the environment, has also boosted the growth of the home decor market. Furthermore, the supply value chain of the home decor market includes various stakeholders, such as components and raw materials suppliers, furniture manufacturers and integrators, and distribution channels. Every stakeholder shares a specific value at their point of action, which, in turn, contributes to the competitive value of the home decor products.
A Blueprint for Supply Chain Optimization
A world-class supply chain begins with a network that adopts an all-encompassing view of the numerous business areas that manage the delivery of end-products to customers. The result is substantial operational, capital, and tax savings while accomplishing optimal customer satisfaction.
Here are three crucial elements to a world-class supply chain network:
- Strategy Before Network: With competing and complex business goals – including minimizing capital, lowering the carbon footprint, improving operating margins, and augmenting the customer experience – a concise and clear supply chain strategy must be fully aligned with the business strategy.
- Focus on Total Profit Optimization: This is a dissimilar objective than traditional network optimization projects, which outlines the objectives as maintaining customer service levels and reducing costs. A sensitivity analysis must be performed to gauge impacts on how a company is working to enhance the parameters it uses to drive shareholder value.
- Project Versus Ongoing Process: A world-class network integrates an ongoing process that emphases on the elasticity of the supply chain and guarantees that objectives are met reliably and over a range of market conditions while improving the key drivers of shareholder value.
Continue reading to know about the scope of this supply chain optimization engagement or request a free proposal
The client – is a United States retail chain that focuses more on selling home decor and specializes in furnishings and accessories. Additionally, the company employs over 8000 individuals.
The client was planning to expand into new markets by setting up partner agreements with franchises. However, their new supply chain model created inefficiencies, miscommunication, lack of visibility and thereby; control. As a result, the home decor firm wanted to obtain more standardized visibility across franchises, streamline communication with these franchises, and gain visibility on when the cargo was being delivered to franchisees.
With the help of SpendEdge’s supply chain optimization engagement, the client developed a platform tailored to address and solve the customer’s challenges. Also, the platform allowed the franchise owners to update the last-mile status via the app while the franchise and customer can communicate about samples. Furthermore, the supply chain optimization engagement ensured that the customers now have:
- Proactive notifications, based on what is of key importance to them
- Enhanced global cargo visibility, with a drill down to containers, Stock Keeping Units (SKU), customer, and franchise orders.
Value Delivered to the Home Decor Stores
SpendEdge helped the home decor market client simplify and rejuvenate their supply chain by introducing a customized digital solution that addressed the specific challenges. This further led to several important benefits for the home decor client including:
- Improved customer satisfaction
- Improved on-time deliveries, due to proactive warnings enabling involved parties to act quickly