MIS 535 Course Project.pdf - Transforming HomeGoods into...

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Transforming HomeGoods into HomeGreat Jayson Jablonsky MIS 535 Managerial Application of Information Technology Professor Wheeler 6/14/2015 1
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Table of Contents Abstract……3 Company Background..….3 Business Problem……4 High Level Solution……5 Benefits……5-7 Business/Technical Approach…..7 Technology Used to Augment Solution……7-8 Business Process Changes……8-9 Conclusion/Recommendations……9-10 High Level Implementation……10-11 Summary……11-12 References……13 2
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Abstract This paper is to show how implementing an e-commerce website for a traditional “brick and mortar” store can aid in the expansion of the business in terms of revenue and market share. Although not always successful, companies that have created e- commerce platforms based on the ideals that have been established in their business processes have seen big returns on their investment. A drawback that companies feel for e-commerce is the costs that are associated with changing their business processes, especially with data storage and inventory management, however, technological services can be outsourced in order to save on costs. After initial costs, a smooth running e-commerce website will transition a company from a traditional entity, to one of future growth as it will increase its customer base and revenue streams. Company Background HomeGoods is what its name implies, a home furnishing store which operates under its parent company, TJX Companies. As of 2014, they operate four hundred and eighty seven stores in forty five states and Puerto Rico (TJX Companies, n.d). They are an off-price retailer that specializes in offering prices on top brands and trends at less then department and specialty stores. HomeGoods offers fashions for every room in the home including kitchen and gourmet cookware, accent furniture, lighting, rugs, bath and bedding, decorative accessories, seasonal merchandise, and much more (TJX Companies, n.d.). The main idea is to transform every customer into their own home designer/decorator, and with yearly growth and expansion, the HomeGoods culture has proven to be an effective one. 3
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Business Problem Although HomeGoods has been expanding every year in terms of revenue and physical locations, the threat of e-commerce businesses is too great for them not to expand their business into the e-commerce marketplace as well. Retail e-commerce revenues grew 15–25 percent per year until the recession of 2008–2009, when they slowed measurably and in 2010, e-commerce revenues are grew again at an estimated 12 percent annually (Laudon 2012). Many traditional “brick and mortar” stores have had to adapt their business structure to include e-commerce as companies like Amazon, who are solely e-commerce, have taken over enough of the market share to push some competition out of business. HomeGoods currently holds a strong market share for home furnishing as many e-commerce websites have not focused on that aspect of retail. With emerging competitors like Wayfair, and now even Amazon looking into
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