Value management is an often misunderstood concept, with most thinking in terms of simply a way to cut cost. But it is so much more than this and, employed correctly, is a very powerful tool for delivering maximum potential from your business.
Typically we find that our clients are:
- worried they are not maximising income due to poorly laid out sites and blocked forecourts
- frustrated about how to deal with the conflicting commercial demands on site – eg. retail versus fuels
- concerned about losing out to competitors by not of creating the perfect forecourt experience for the local market
Put simply, value management is about making choices, being honest and accepting that you can’t always have everything.
Sometimes it will lead to difficult decisions; we have seen numerous instances where clients have been offering customers too much in a location which simply can’t support all the offerings; the end result being that customers end up with a “compromised” service in all aspects. Put yourself in your customer’s place and ask yourself whether you would prefer to have two or three things delivered really well or four or five things delivered poorly?
To fully benefit from value management processes requires a deep understanding of all the various aspects and influences which affect what your business is trying to deliver and how you service the needs of your customers.The ability to strip back long-held beliefs and concepts to the bare basics, based on actual customer behaviour and business performance, is something which Wyeth has a passion for. Getting into the detail and understanding all the dynamics impacting on why something works … or doesn’t!