Pace is a member of Turnaround Management Association, TMA. This is an international organization of professional members dedicated to economic recovery, growth and restoration of corporate value. It is an organization of 4,100 members with 32 international chapters. TMA members have been credited with the most successful turnarounds in the country. Bankruptcies have been avoided and troubled companies have been transformed into profitable, healthy and growing enterprises.
Richard Siegel, founder of Pace International, has served as interim CEO in turnaround engagements with outstanding success. At the request of banks and lending institutions to serve in this capacity, Richard has often shown immediate financial improvements within as little as 30 days. Pace provides a variety of services to introduce change and corporate renewal. Our approach most often addresses savings and efficiencies combined with improved sales and gross profit. Almost always there is a need for significant repositioning.
Turnaround strategies often are uncharted waters for retailers. New financial support, creditor
workouts, lease negotiations and a host of other initiatives are foreign to many of the most
skilled retailers. Typically, retailers have focused their energies on running a business and do
not have the expertise to manage a strategic plan involving corporate renewal. The contribution of
a skilled professional is invaluable to the implementation of changes required for corporate survival
and growth in turnaround and renewal situations. You may feel that your situation is unique, but we
have seen it all and have the skills to recover value. Core Competencies
Repositioning
Footwear Consulting
Pace provides footwear-consulting services to specialty, department stores and footwear retailers. During our Needs Assessment
we
study your assortments, vendor structure and that of your competitors. A market analysis is
undertaken. Buying and merchandising processes are examined in detail including information
systems and reporting. Distribution centers and logistics are also reviewed.
During the recap session at the conclusion of the Needs Assessment, recommendations are made that often include a repositioning plan to improve differentiation. This would include a revised vendor structure based on our first hand knowledge and information
on
retail sales performance across the country. Recommendations are made with respect to buying,
merchandising and logistic processes. An implementation plan is presented.
In consulting engagements, Pace provides on-site services and off-site daily support. Clients can choose from a variety of solutions that are unique to each company based on the findings during the Needs Assessment. Every client has experienced immediate and continued improvement in gross profit dollars and ROI.
Buying Discounts
Pace brings to each client an opportunity for across the board reduced pricing from leading vendors. Pace consolidates clients' orders to achieve full line price reductions that would not be available otherwise. Clients are not restricted as to what they can buy, quantities or any other constraints typical of buying groups. You buy what you want and with normal terms. In a number of circumstances, the savings from this relationship is greater than the total cost of the Pace engagement.
An alternative to a consulting relationship is Pace's Footwear Outsourcing Service.