Boston, MA 05/30/2014 (wallstreetpr) – The Home Depot, Inc. (NYSE:HD) is a home improvement retailer. Like most other retailers around the world, the business is trying to inject new life into its operations if only that can guarantee performance improvement in the long-run.
In addition to adjusting the number of its stores, Home Depot has a new approach to improve revenue and profitability. The company intends to implement a new order management system throughout its supply chain in the U.S. It has already gone live in at least one store and expects its entire U.S. store system to move to the new order management platform by the end of 2014.
According to the company officials, Home Depot expects the implementation of the new customer order management system to take away inefficiencies in its manufacturing process and supply chain. In addition, the new order platform will boost the company’s reputation among associates and customers.
Suppliers up their game
As Home Depot, Inc. (NYSE:HD) works on the widespread rollout of the new order platform across its stores, the company is also helping its suppliers to integrate the new system into their platform. According to the CEO of Home Depot, Frank Blake, the company’s largest suppliers have already adopted to the new order management. However, the company is working with its smaller suppliers to integrate the same into their systems so as to ensure seamless rollout.
Creating shareholder value
For retailers that want to lower operating costs and boost reputation in the market, technology is becoming a handy tool. Deployment of technology helps to strengthen efforts geared towards efficient operations and Home Depot, Inc. (NYSE:HD) believes it can boost earnings by taking advantage of the opportunities that technology provides.
The company reported mixed results in its 1Q2014 financial reported. While earnings surpassed expectations, revenue faltered in the quarter. Home Depot, Inc. (NYSE:HD) earned $1 per share in 1Q, ahead of the consensus estimate of $0.99. Revenue came in at $19.70 billion, below the consensus estimate of $19.96 billion. Nonetheless, both revenue and earnings were up on a year-over-year basis.