Target 2002 Annual Report Download - page 14

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12
Within the retail industry, Target
Corporation commands a leadership
position for our technological
knowledge and sophistication, and
we are committed to maintaining this
competitive advantage. Our expertise
in technology allows us to deliver
superior guest service, drive operational
excellence in our supply chain
and improve our overall financial
performance. To directly benefit
our guests during 2002, we enabled
all of our companies to support
receipt-less returns, continued to
build our knowledge base of our
guests’ shopping preferences and
enhanced our guests’ online shopping
experiences by creating a single web
site with increased personalization
features. In addition, at Target we
have begun capturing electronic
signatures at checkout and are
piloting electronic coupons for
our Target Visa guests using smart
chip technology.
Investments in our supply chain
and infrastructure are also critical
to our competitive position and
support our guest service objectives.
For example, we have meaningfully
improved in-stocks, while maintaining
tightly controlled inventory levels.We
have accomplished this by expanding
our Collaborative Planning, Forecasting
and Replenishment effort, intensifying
our focus on high velocity items
and categories, and leveraging the
benefit of end-to-end supply chain
visibility—from order creation to store
replenishment—provided by our new
performance tracking system. In
addition, we have digitized many
processes that allow us to convert
ideas to sales more rapidly and to
substantially reduce our acquisition
costs for goods and services. Finally,
we are accelerating our investment
in distribution capacity, including
new import warehouses and regional
distribution centers, to ensure
consistency and greater efficiency
even as we continue to grow.
We firmly believe that continuous
innovation and sound investment
in technology will allow us to serve
our guests better every day, to sustain
our competitive leadership position
and to contribute incremental value
for our shareholders over time.
The value of complex technology that
simplifies your life.The value of receipt-
less returns, shopping online at midnight
and a store that understands your
preferences.The value of trend-right
timing.The value of the merchandise you
want on the shelves when you want it.