Optimizing the Value in Return Transactions

There are only so many dials that can be turned to increase sales and reduce expenses, and most have been turned at least twice already. But what about returns? Historically, return transactions have just been “a part of doing business”—however, they can, unfortunately, cause BOTH a negative sales impact AND an increase in expenses. But, what if new value could be created—previously ignored in return transactions—adding new sales? Or what if fraud and abuse could be reduced without creating stricter policies that can frustrate good consumers—and still save costs by reducing return rates? What if a NEW omnichannel dial could be turned? Think about it, if providing a higher level of consumer service and generating both revenues and increased margin during the stressful return or exchange process could be possible, then an improved bottom line and a competitive advantage would have just been created.

Return and exchange transactions are a dark part of the retail environment—accepted out of necessity and/or consumer service pressures, yet often left unexamined. Most multi-channel retailers are so accustomed to seeing the returns bucket on weekly reports that they simply gloss over it, or grumble about the negative effect returns have in transforming gross sales into the net. But returns hold significant promise, and we believe that the concept of return optimization may be one of the keys to unlocking their extraordinary value.

Read the full report here

Former GE CEO, Jeff Immelt, Keynotes Our August Assembly!

On August 3rd, The Millennium Alliance Healthcare Providers & Payers Transformation Virtual Assembly kicks off with a keynote address from Jeff Immelt, Former CEO at General Electric. Immelt is a longtime leader in healthcare skilled with innovating and creating change during times of crisis. He’s been recognized by Barron’s as a “World’s Best CEO” three times, and served as a chairman for the “President’s Council on Jobs & Competitiveness” during the Obama administration. He has deep experience in the healthcare industry as a payor, innovator, investor and policy advisor. He is currently a Venture Partner for New Enterprise Associates (NEA), an organization helping founders build successful companies that improve the way we live. 

In his keynote address, Immelt will share what’s next for providers and payers, the newfound importance of digital transformation for healthcare 2.0, and he will address any questions from the audience during a live Q/A session. Interested in learning from one the most influential voices in leadership & healthcare? Go here to request an invitation to the virtual assembly!

About Jeff Immelt

Jeff Immelt joined NEA in 2018 as a Venture Partner on both the technology and healthcare investing teams. He is the author of HOT SEAT, a memoir of leadership in times of crisis. 

Jeff served as chairman and CEO of GE for 16 years where he revamped the company’s strategy, global footprint, workforce and culture. During his tenure, he led several innovative transformations that doubled industrial earnings, reshaped the portfolio, re-established market leadership, grew a strong share position in essential industries, and quadrupled emerging market revenue.

Jeff has been named one of the “World’s Best CEOs” three times by Barron’s. During his tenure as CEO, GE was named “America’s Most Admired Company” by Fortune magazine and one of “The World’s Most Respected Companies” in polls by Barron’s and the Financial Times. He has received fifteen honorary degrees and numerous awards for business leadership and chaired the President’s Council on Jobs and Competitiveness under the Obama administration. 

Jeff earned a B.A. degree in applied mathematics from Dartmouth College and an M.B.A. from Harvard University. He currently serves on the board for NEA portfolio companies Bloom Energy, Bright Health, Cleo, Collective Health, Desktop Metal, Formlabs, Radiology Partners, Tri Alpha Energy, and Tuya. In addition, he is on the board of Sila Nanotechnologies, Hennessy Capital, and Twilio. Jeff is a member of The American Academy of Arts & Sciences. He and his wife have one daughter.

#MillenniumLive on Bringing Together Creative & Technology Teams with ICP

#MillenniumLive welcomes Victor Lebon, Chief Innovation and Strategy Officer at ICP. Consulting some of the largest brands to achieve better marketing outcomes, ICP is at the helm for technology adoption and marketing operations. Victor shares more with us about the important role of creative and technology teams, new models of digital commerce, and leveraging ICP’s core principles to find marketing harmony.

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Watch the video interview below, or listen to the podcast episode on SpotifyAppleGoogle Podcasts, or SoundCloud.

About ICP

Modern Marketing Needs New Operational Models

For many years, most creative work has been developed using a similar process. In this data-driven and technology-enabled, post-Covid age, the move toward new delivery models is accelerating.

Global clients benefit more than ever from in-house, onsite, near-site and off-shore delivery solutions where the right work is conducted in the right place, at the right time, for the right cost.

ICP’s approach is to work with clients to find the optimum delivery model, always independent of any legacy agency model or process.

They offer creative production services, having been the first company, in 1988, to focus on decoupling the production, adaptation and localization of creative marketing materials.

As a consultancy and service provider with a unique perspective, their team of strategists is well-versed in a suite of sophisticated creative operations solutions and they believe in the power of leveraging a tailored solution to modernize their clients’ marketing.

Go here for more information on ICP’s C-Suite Marketing Solutions!

David Sable Asks, Is Our Pandemic Wardrobe Getting in the Way of Return to Office?

As originally published by David Sable on Linkedin. Subscribe to the newsletter!

As I ponder all the debate and discussion around people returning to offices, and as I watch restaurants fill and parks overflow and stores and concerts and even movie theaters begin to come back to life. I wonder…

I wonder, what is really behind the reticence to even want to accept a hybrid work week? Is it the commute? A fear of infection or crime in some cities? Is it a lack of efficiency? A desire not to have any distractions? Or is it that I hate the office? The culture. The set-up. The politics.

Some more cynical than I (hard to believe, I know), have suggested that people are getting paid more to stay out than come back. It’s summer and come mid-August, people will be looking for jobs and ready to go back. Playing this for all it’s worth, perhaps some are thinking, “why go back if they don’t demand it?”​ And on and on.

I have had a revelation. A flash of insight that I think answers this question, and I’ve decided to share it in the hopes that it can help both employee and employer come to a meeting of the minds, or more literally, put a meeting of asses in seats.

The real problem, the real issue is…I DON’T KNOW WHAT TO WEAR!

That’s it. Simple. We have a sartorial drama manifesting itself in indecision, lethargic behavior and worst of all, FASHION FEAR. Who wants to get called out by the Clothes Police, the Fabric Shamers, the Wardrobe Bullies—you get the point.

You see, we have spent a year plus lounging in our PJs and sweats. We have Zoomed in our underwear with an appropriate top, of course, (causing one or two legendary slip ups as we all know). Shoes? Dresses? Suits? Ties? What are those?

For over a year, all we bought were loose fitting comfortable clothing. And it worked. We all wore them. Those in a more fortunate financial position, in fact, spent much of their quarantine shopping online. It seems many of us bought everything, EXCEPT what we once wore to the office.

Our closets are now full of hoodies and yoga pants. And you want me to come back to work…wearing what, exactly?

Truth is sales of back to office clothing is upPeople are starting to wrestle with the notion of needing to rethink, to draw a line in the sand between sitting in my home half-hidden and being back in the office in full sight.

I also find it fascinating to see folks who are out and about dressed to be out and about (not like we were during the worst of the Plague, even if we ventured gingerly outdoors). Then again, maybe it’s because we were covered by masks and big coats, traveling incognito through the abandoned streets of our respective neighborhoods.

Three-quarters of all shoppers (75 percent) say they’re looking forward to shopping for new clothes in a physical retail location, according to Cotton Incorporated’s Coronavirus Response Consumer Survey (Wave 6, May 19th, 2021). Nearly two-thirds (65 percent) said they really missed shopping for clothes in-store. And 61 percent of respondents said shopping for clothes online is a poor substitute for shopping at a retail location.

So, what can we do to help?

How about if employers, instead of having bands in the parking lot and free Uber rides, invited retailers to the office for a personalized fashion consultation or gave gift certificates to stores like American Eagle (selfish plug…I’m on the board).

Bottom line, take the angst out of dressing for the office. It’s cheaper than therapy! The good it can do will last longer than an Uber ride.

To quote one of my favorite sources and PC Cops (please forgive the gender skew):

“Clothes make the man. Naked people have little or no influence on society.”— Mark Twain

And there you have it…

Go buy a new outfit and help change the world. What do you think?

#MillenniumLive on Accelerating Resilience & Your Cloud-First Journey

This week on #MillenniumLive, we’re taking the dive into cloud migration, talent & teams, and what it takes to be a good leader in technology. This episode is moderated by Amber Lacanal of Notion Consulting. Our guests include:

*Dewayne Griffin, VP & Chief Data Officer at State Farm, *Donald Bauer, Chief Technology Officer at U.S. Department of State, *Jean-Pascal Chauvet, Chief Technology Officer at Deutsche Bank

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Listen to the podcast episode on SpotifyApple, Google Podcasts, or SoundCloud.

Interested in Joining Our Next Digital Enterprise CIO Transformation Assembly?

Digital Transformation involves ongoing exploration by today’s leaders, and our best advice is to not trek the journey alone. Our Digital Enterprise CIO Transformation Virtual Assembly coming this September is set to be a groundbreaking opportunity for leaders to virtually connect on the current trends & challenges the industry is facing amid COVID-19. Our Assemblies are virtual for the time being, but you can still expect the same high-level discussion & engagement as a Millennium onsite experience. Go here to request an invite to join!

#MillenniumLive on Data, AI, & DevOps Transformation with Delphix

#MillenniumLive is joined by Jedidiah Yueh, CEO & Founder at Delphix, to discuss data and AI transformation, and how they are impacting business success. He also shares with us how Delphix has become a leader in DevOps, the ways security’s threat landscape has evolved over the course of the pandemic, and what may be on the horizon for data privacy standards.

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Watch the video interview below, or listen to the podcast episode on Spotify, Apple, Google Podcasts, or SoundCloud.

About Delphix

Delphix is the industry leading data company for DevOps. Data is critical for testing application releases, modernization, cloud adoption, and AI/ML programs. Delphix provides an automated DevOps data platform, masking data for privacy compliance, securing data from ransomware, and delivering efficient, virtualized data for CI/CD and digital transformation. Interested in learning more about the Delphix DevOps Platform? Go HERE to get a personal walkthrough.

AI Might be the Future of Your Company, but What About Your Leaders?

As originally published by David Sable on Linkedin. Subscribe to the newsletter!

What is the future of Leaders? I have written much about Leadership (to me always with a capital “L”) and Leaders (same), and my loyal readers know my acronym, my summary for the traits that transform an ordinary person into the extraordinary role:

  • L – learn. Leaders learn. They never stop. They are always in Beta. Curious. Always digging for more and more. And leaders learn from all
  • E – empower. Leaders empower others. Leaders don’t hold on to power. They aren’t paranoid about sharing. They delegate. They create teams. They step back.
  • A – arm. Leaders arm their teams and their followers with the knowledge and tools they need to succeed. This is what makes empowerment work. They don’t hoard the info in the skewed notion that knowledge is power and limiting it is more power.
  • D – defend. Leaders defend their people. They never throw anyone under a bus. They go to bat for them. Advocate for them. Protect them.
  • E – energize. Leaders motivate. They inspire. They create and share energy.
  • R – run. Leaders never stop. Leadership never stops. Leaders are always on, even on bad days.
  • S – share. Leaders share all. The glory. The reward. The blame. The pain.

All of the above builds trust.

I have warned, many times, about conflating power with Leadership, and people who are seen to have power with Leaders. As the two comic geniuses Mel Brooks and the Late Carl Reiner taught us: “There’s something bigger than Phil!!”

Management by fear and bullying doesn’t usually end well for the bully. To be fair, it sometimes can, but when it doesn’t, it’s our own fault and the fault of corporate boards (a story for another time).

Back to my topic and what inspired me this week: I’m sure you have seen all the pontificating about the future of the workspace, ranging from tearing down the office towers, to claims that no one will ever return, to calls for a complete return to a face-to-face workspace.

My view, as I have shared in a number of posts, is that the real issue is the bad—not the old—culture and environment in many places of employ.

It’s clear that fear of infection can’t be the issue, as restaurants, bars, concerts, planes and vacation spots fill up. And while fear of commuting affects some, public modes of transportation are getting better for personal use.

We also know that younger and new employees are eager to see people in person. Learn more. Be exposed to more. Experience the power of casual mentoring, as in, “what are you working on? Really? I worked on something similar. Let me show you…”

Finally, I do believe that while hybrid will be the prevailing model, the next disruptive product, brand or business will emerge from a group of people sitting together face-to-face, leveraging the exponential power of serendipitous discovery and chance meeting—while others are crowing about their efficiency dashboards for their remote practices.

This, however, is also not my core topic of the week.

Simply put, as I ponder the reticence to resume in-office engagement and read article after article about AI changing the way workers interact, I wonder where Leaders and Leadership fit in this brave new world?

Who will inspire the next generation? Or have we devolved already to what will inspire them…AI?

Who thinks (if you do, speak up, you are no more right or wrong than I am) that AI could have created Apple? In fact, I’d strongly posit that Apple would have never been created had it not been for its visionary leaders, because my bet is that even the most powerful AI in the world would have found their ideas be illogical, not sustainable and ridiculous to contemplate.

Jobs, Gates, Bezos, Benioff, Musk, Zuckerberg, Dell (and let’s not forget about Hewlett and Packard)…does anyone really think their legacies could have been made by some computer program, no matter how powerful?

It’s one thing to beat me at chess, but it’s quite another thing to create chess.

Frankly, I am worried. We are letting our employees float. No matter how efficient you think you are, and despite your protestations of just how much WFH has done for your culture (a sad thought in my view), none of this identifies allows potential Leaders to be identified, develops them or begins to formulate the next generation of Leadership.

As we contemplate the work environment (not just office) of the future, as we lean into AI and technology (as we should) to further transform our experiences and business development, let us not forget that neither AI or tech actually purchase our products. Only people do.

A future that is driven solely by AI and tech seems pretty bleak and Terminator-like to me.

Orwell put it into true Orwellian speak when he wrote:

“High sentiments always win in the end, The leaders who offer blood, toil, tears and sweat always get more out of their followers than those who offer safety and a good time. When it comes to the pinch, human beings are heroic.”

AI will never be heroic. Think of that as you contemplate the kids in the garage because that’s what you should be focused on.

#MillenniumLive on Retail Innovation with David Sable & Craig Brommers

This week on #MillenniumLive, we have Former Global CEO of Young & Rubicam and Millennium Alliance Advisory member, David Sable with Craig Brommers, Chief Marketing Officer of American Eagle, to discuss retail innovation & marketing strategy in an era of disruption. According to Brommers, the notion that “retail is dead” couldn’t be further from the truth – consumers, and especially Generation Z, are eager to return to normalcy. For retailers that are on the forefront of innovation, this has resulted in sales exceeding that of pre-pandemic times. The question is: how did American Eagle top analysts’ expectations for Q1 earnings in the midst of COVID-19? Listen to this podcast episode to find out.

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Watch the video interview below, or listen to the podcast episode on SpotifyApple, Google Podcasts, or SoundCloud.

Interested in Joining Our Next Retail Assembly?

Digital Transformation involves ongoing exploration by today’s leaders, and our best advice is to not trek the journey alone. Our Transformational Retail Virtual Assembly coming this August is set to be a groundbreaking opportunity for leaders to virtually connect on the current trends & challenges the industry is facing amid COVID-19. Our Assemblies are virtual for the time being, but you can still expect the same high-level discussion & engagement as a Millennium onsite experience. Go here to request an invite to join!

The Future of Retail CX—Winning in the Digital Era with AI

COVID-19 changed customer shopping behaviors dramatically overnight—and they’re not changing back. In fact, customer expectations for seamless, on-demand digital services are only increasing.

Want to learn how to use AI to create efficiencies while meeting the expectations of next-gen shoppers?

Join our partners at [24]7.ai for their live webcast to learn ways AI transforms retail e-commerce by enabling you to:

  • Create a personalized, high-touch experience on digital channels to win customer loyalty
  • Automate the top retail intents to create efficiencies
  • Meet customers on new touchpoints such as curbside pickups, seamless returns
  • Create a successful digital CX transformation and automation roadmap
  • And more!

Register here

#MillenniumLive with GitGuardian on Cybersecurity’s Secret Detection

#MillenniumLive chats with Jérémy Thomas, Co-Founder and CEO at GitGuardian. He joins us from Paris, France to discuss how GitGuardian’s automated secrets detection & remediation resources can enable cybersecurity leaders. Each day, their solution scans 2.5 million commits on GitHub, finding more than 3,000 secrets. Listen in to find out more why GitGuardian is trusted by leading Threat Response & Application Security teams, and over 40 million developers.

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Watch the video interview below, or listen to the podcast episode on SpotifyApple, or SoundCloud.

About GitHub

Even if your company doesn’t do Open Source, your developers do. Most corporate leaks on GitHub occur on developers’ personal public repositories, as opposed to official company’s open source repositories. In the vast majority of the cases, these leaks are unintentional, not malevolent. With 40M+ developers using GitHub, any company with a lot of developers is exposed to the platform. Developers have access to more and more sensitive information – Developers now build software in a decentralized, cloud and SaaS-friendly way. As a result, they increasingly use API keys, database credentials, private keys, certificates, … This leads to secrets spreading within the organizations and the public domain.

Go here to Request a Demo