Ranking of opportunities for implementing the omnichannel concept

Abstract

Background: The paper is devoted to implementation of the omnichannel concept using the ranking of opportunities. Opportunities were obtained from a SWOT/TOWS analysis and Thurstone’s method is used for ranking. The SWOT/TOWS analysis is one of the most basic analytical methods and the result of this analysis indicates a general strategy. Based upon previous authors’ experiences in using SWOT/TOWS, we can conclude that this analysis is often insufficient for decisions to be taken, as it lacks information on what factors should be prioritized over others in implementing the chosen strategy. Further analysis is required to confirm the next steps should be in implementing corporate strategy, and this analysis is performed using different methods. Methods: Based on the previously developed SWOT/TOWS analysis, the authors created an algorithm for making decisions in logistics in terms of implementing the concept of omnichannel. In the methodology, an algorithm merging SWOT/TOWS analysis with Thurstone’s method is presented. The results of this paper show how making decisions in logistics can be more accurate using Thurstone’s method in conjunction with SWOT/TOWS analysis. Thurstone’s method is used to sort all factors in implementing the omnichannel concept. Results: A grouped list of opportunities from the most critical to the least crucial correspond with the present state of the market. Using Thurstone’s method together with SWOT/TOWS analysis will result in a more complete set of data to use in the decision-making process in implementing the omnichannel concept. Combining the results of the two analyses creates a methodology for ranking opportunities for implementing the omnichannel concept. Conclusions: The method for making decisions in implementing the omnichannel concept presented here gives more information for managers than using each of these analysis separately. The main advantage of using both analyses is that risk is reduced during implementation and a list of factors is produced that can be used in the following decisions.