PRSM White Paper Discusses How KPI Use in Retail Facility Management Improves Customer Satisfaction

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The White Paper provides retailers and suppliers a comprehensive overview of: what constitutes a KPI, how to create KPIs using the SMART methodology and how both retailers and suppliers can implement KPIs to reduce costs, and improve customer satisfaction

Bill Yanek - PRSM CEO

KPIs are able to provide critical insight by tracking measurements over time and producing inarguable results that allow businesses to better understand their function and operation - Bill Yanek - PRSM CEO

The Professional Retail Store Maintenance Association, (PRSM), the authority on retail, multi-site facilities management, has released the White Paper, “Key Performance Indicators: Best Practices for Creation and Implementation.”

The paper provides retailers and suppliers a comprehensive overview of: what constitutes a KPI, how to create KPIs using the SMART methodology and how both retailers and suppliers can implement KPIs.

Case studies demonstrate how KPIs can be used to understand critical measurements and identify where retail facilities managers can increase value rather than cutting costs, and quantifiably gauge the current state of business performance.

KPI’s can also enable suppliers and retailers to identify where communication breakdowns occur, and develop solutions that enhance customer satisfaction. Well written KPIs are: specific, measurable, achievable, relevant and time bound, also known as SMART goals.

KPIs can impact: profitability, brand allegiance, customer acquisition, and employee engagement. The five most used KPIs in retail facility management are: normal response times, emergency response time, average work order/invoice cost, not-to-exceed (NTE) compliance and interactive voice response (IVR) usage.

“KPIs are able to provide critical insight by tracking measurements over time and producing inarguable results that allow businesses to better understand their function and operation. That will enable them to meet organizational goals easier,” said Bill Yanek, PRSM CEO.

“The relationship between suppliers and retailers is complex and dynamic, but KPIs can strengthen the relationship and lead to the creation of integrated solutions that result in higher levels of client satisfaction.”

Media Representatives can review the White Paper until Tuesday, November 8th by clicking here.. Or, for a PDF of the White Paper, contact bcondit(at)prsm.com . PRSM provides a wide range of tools and resources for the retail facilities management industry.

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About the Professional Retail Store Maintenance® Association (PRSM)
PRSM Association, the authority on Retail and Multi-site Facilities Management, is the leading membership organization for retail facilities and vendor professionals. PRSM empowers the Retail Industry facilities management with best practices, benchmarking, education, discussion forums and trusted partnerships. Chartered in 1995, and with approximately 950 member companies, PRSM community values are founded on a spirit of innovation, resourcefulness, the quest for knowledge and ethical business relationships. Members depend on PRSM to help them achieve greater success and a competitive advantage through quality programs and resources.

Visit prsm.com for more information.

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