Redefining Retailing with Intuitive Solutions
Ziv Pitshon, CEO, Onebeat has strived to become an exceptional leader over the last 15 years. His excellent mentorship ways coupled with innovative ways of working has helped him carve a niche for himself especially in the retail industry. As the CEO of Onebeat, an innovative retail software that offers a robust and innovative platform for ongoing operational improvement, Ziv has been at the helm of affairs of the company. Excerpts from an interview:
Conception of Onebeat
Today’s retailers face an array of challenges: from dealing with an ever-growing demand for personalization and freshness from consumers, to handling new and fierce competition from e-tailers and global players, that need a new and innovative approach to retail planning and execution. “Onbeat is an innovative and consumer-centric platform specifically designed to help retailers face these challenges with a set of indigenous yet intuitive solutions. The company’s innovative and consumer-centric algorithms identify consumer patterns and market trends in real time, helping retailers all over the world to adjust their operations and react quickly and efficiently to changing realities in the market” observes Ziv. Its modules are seamlessly integrated to ensure the perfect execution for the retailers’ plan, while creating a direct feedback loop back to the planning stage to ensure continuous improvement in the next planning cycles.
“In Onebeat, we have created a unique value proposition. Our competitors, from the giants (SAP, Oracle, Blue Yonder) to the growing players, either offer high value with high cost of customization or offer low customization with small-medium value. We, at Onebeat offer high value with low customization cost. So, beside the fact that Onebeat has proven demonstrated results with its clients, it also gives a low-risk high-ROI offer to its prospects.”
Noting that the retail-tech providers ignore the relationship between processes and provide decoupled solutions, Ziv observes that only with profound system understanding of the retail processes, you can deliver immense value to the retailers. “In Onebeat, with our accumulated expertise, we have this ability and therefore, we deliver exceptional valuable solutions.”
Noting that Onebeat follows a reversed approach, Ziv adds that instead of HQ->Stores, the company is working on Consumer->HQ module. “Now, every retailer will tell you that they are looking at trends and analyze their consumer data when they do the planning cycle. However, the lag between the study of the data until there is a feedback loop is too long- between 9-12 months. Instead of forcing the plan from the HQ to the stores and the consumers, Onebeat is putting the consumer as the engine of the whole process.” With the ability to read, analyze and calculate massive amount of data, daily, Onebeat can react to real-time actual signals from the consumer, helping the stores and the HQ to maneuver the plan to what is really needed, notes Ziv.
Retail Industry – Challenges Galore
Retail tech startups do not have the luxury of solving only the problems of today or tomorrow or next week. Retail tech startups should look at the trends of the market and vision the problems in few time frames (1 year, 5 years, 10 years) and make sure that their strategy is aligned across those time frames. Noting that some of their development effort will become obsolete in a few years, Ziv observes that the solutions designed should be flexible and relevant enough to solve the issues in the longer horizon time frames.
The Pandemic Effect
Ziv observes that COVID-19 has pushed the consumers to shift their consumption to online due to constant lock downs and social distancing norms. The brick-and-mortar stores witnessed a downfall in demand. “The challenge for the retail chains who were offering ‘hybrid’ operations is to combine them together and leverage on their physical presence too. Opposed to an online retailer, who has only few WHs to fulfill the orders from, the ‘hybrid’ retailers can use the store as a regional fulfillment center to ensure better delivery time. It is a paradigm shift, but retailers that won’t shift their mind, will stay behind and decline. The online retailers’ challenge is to improve the delivery time without increasing the cost to a dangerous level. The trend of delivery time reduction will continue and will set the ground for third party fulfillment that will have to solve the problem for the online retailers.
Excellence, modesty, resilience and being a visionary are few of the leadership traits that have helped him excel, according to Ziv. “I believe that the word ‘leader’ is the best way to describe myself. For me the word leader consists of two important aspects: the ability to dream and the ability to execute.”
Noting that failure is the key for success, Ziv adds, “fear of failure is natural and has roots in our biology. Nevertheless, in our modern world, if you haven’t failed, the meaning of it, is that you remained in your comfort zone, not exploring new possibilities, doing more of the same. If you fear of failure, you fear of being a leader. If you want to be a leader, you MUST fail!.”