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Best Buy business problem and technology solution - Essay Example

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This paper identifies two business problems at Best Buy, relating to one, the way it manages its costs relative to competition, and two, the way the company has lagged behind Amazon in terms of online retailing, something which now threatens to marginalize Best Buy and to…
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Best Buy business problem and technology solution
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Best Buy business problem and technology solution

Download file to see previous pages... This paper also details technological solutions to enable and to augment the proposed business solutions to get Best Buy back on its feet financially and strategically. These technological solutions are the use of an ERP system or the enhancement of the existing ERP system to make the supply chain more efficient; and the use of data analytics to better understand buyer behavior and preferences (Crosby, 2014; McIntyre, 2014; Zacks Equity Research, 2014; Google, 2014).
Best Buy is a retailer of electronics products for consumers, products for computing and for cellular communications, related products for entertainment, home appliances, and the services that are tied to their merchandise. Best Buy is a multinational concern. Aside from owning physical retail outlets spread out in its key geographic markets, Best Buy also has several web properties as well as call centers. Its e-commerce platforms include The Phone House, Future Shop, Magnolia Audio Video, Geek Squad, Pacific Sales, Best Buy Mobile, Five Star, The Carphone Warehouse, and Best Buy. The company divides its operations as a multinational between the United States market on the one hand, and the international market on the other, with the latter made up of its combined operations in Mexico, Europe, China and Canada. In these different latter markets Best Buy employs different subsets its stable of brands. For instance, in China, Best Buy makes use of its Five Star Brand, while in Europe Best Buy has traction as The Carphone Warehouse, Geek Squad, and The Phone House. The US market is comprised of six product segments or categories, namely mobile telephony and computing, services, electronics for consumers, the appliances segment, entertainment products segment, and the others segment. The entertainment division offerings include digital downloads of media, as well as DVD and CD sales, together with Bluray sales. Services include after sales and ...Download file to see next pagesRead More
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