Any retailer knows that in-store temperature matters a great deal to customers due to its affect on their overall shopping experience. Imagine trying on new clothes while perspiring in your dressing room or browsing a store while shivering. Retailers are privy to the fact that most heating, ventilation, air conditioning (HVAC) equipment breaks down at the worst imaginable times. Situations like these are caused when the equipment’s performance is stretched to its limits during extreme heat or cold and your asset falls short.
The long-term value proposition of asset management combines asset optimization, strategic decision making and a higher return on investment. In the narrowest sense, it monitors costs and supports peak asset performance. Broadly, it facilitates vital document storage and accessibility, maintenance and repair cost management, vendor management and regulatory compliance.
The Internet of Things is transforming the in-store experience. From smart thermostats that improve energy use, to smart shelves that detect low inventory, the entire retail experience is going through a transformation. These upcoming advances in technology can also help mitigate risk down the road.
Indirect costs are often overlooked and are not applied back to direct ticket costs because they are less tangible than hourly rates and trip charges. This makes them harder to calculate for the total cost of ownership. However, without evaluating these indirect costs, you lose transparency to accurately calculate the financial impact on your business.
Brand extends far beyond a logo. The best companies have a strong experiential component that relates to the way they use their space to make you feel specific emotions as part of their brand experience. Think about the best-in-class restaurant brands and how they set an exact tone and feel the minute you enter the door. The way a restaurant looks and the way guests feel during their dining experience affects brand arguably more than a catchy jingle or a funny commercial.
We’ve entered an era where ratings rule. Whether it’s a Yelp review of a restaurant or a driver’s score on Lyft, consumers are now accustomed to having the instant satisfaction of applauding excellent service with five stars and reporting bad service with less. In fact, 62% of businesses now use a customer experience analytics reporting system (Deloitte).
Digital shopping is only part of the average buyer's journey. The physical retail environment is still going strong, which is why so many brands maintain retail buildings and some online-only retailers are now opening brick-and-mortar stores.
The hard-dollar bottom line of preventive maintenance is this: It has a demonstrable impact on the budget.
Preventive maintenance can prove its ROI if facilities managers know which metrics to analyze. These stats vary by facility, and they aren’t always cut-and-dried. For example, even soft benefits, such as customer perception and satisfaction, carry weight, according to FacilitiesNet.
Although the Patriots and the Falcons are the teams on the field playing for the ultimate NFL title, SMS Assist knows who the real MVP is during the big game. The facility maintenance team has a lot of preparation and elements to consider before they can call one of the biggest sporting events of the year a “win.”
How do you know if your facilities maintenance program is running efficiently? From a high level, it’s hard to tell. However, if you know the right KPIs to measure performance against, it is easier to monitor the efficiency, effectiveness and overall success of your facilities maintenance program. Keep reading to learn more about the four key performance indicators you should be tracking in 2017 and beyond.