CONNIE B. FUHRMAN
7218 w 114th St Circle, Bloomington, MN 55438
[Send email to request phone number] 02.0849 ~
Innovative, results-oriented professional with strong management experience in
all areas of retail with heavy emphasis on operations. Thrives in start-up
situations, creating new competencies and taking on large, complex organizational
challenges. Adept at building teams and systems that maximize people, processes,
quality, and results.
Areas of Expertise:
* Supply Chain
* Change Management
* Program Management
* E-Commerce
* Lean Six Sigma
* Outsource Management
* Leadership
* Merchandising
* Customer Centric Culture
"Connie is a great team player, and an incredibly versatile leader. She takes a
smart, practical approach to problem solving, that has led to tangible, rapid
results in every challenge or role she has been given.
Michael Linton, Former CMO, Bestbuy, E-Bay
CAREER HIGHLIGHTS
Drove $250 million in savings in three years by creating the Inventory
management competency at Bestbuy and implementing tools like E3, Arthur,
Intactix, Oracle and I2.
Launched Bestbuy.com in 9 months through a combination of outsourcing
(fulfillment and call center and IT activities), leveraging corporate resources
and building a 350 person team.
Improved inventory turn from 2.0 to 4.5 while growing GM$ and improving instock%
in the Music, Movies, Games and Computer Software of Bestbuy, through a variety
of pricing, assortment, space, portfolio and inventory management initiatives.
Grew Musicland from $200M to $2B in 10 years through a combination of
acquisition integration, new concept development and new product rollouts.
Deferred $450M in losses for Bestbuy through the successful sale and transition
of it's Musicland division to Sun Capital partners.
Created $150M in combined benefits through identification and execution of
acquisition synergies for Bestbuy and Musicland.
GENERAL OPERATIONS MANAGEMENT
* Maximized business value of distressed asset for a sale transaction,
separation of people, processes and systems from parent, and stabilized business
post sale, achieving $85M in cost savings initiatives.
* Sold the Musicland division to Sun Capital Partners saving Best Buy $450M in
losses and oversaw the transition of services, including IT, Finance, Logistics
and more, from Best Buy to Musicland.
* As EVP Merchandising, Managed the Merchant groups, New Business Development,
Logistics Operations, Inventory, Musicland.com, Planning, and Program Management
for 4 brands & 1200 stores with $2B sales and $800M inventory.
* As COO of Bestbuy.com, oversaw Fulfillment Operations, Inventory Management,
Planning, Finance, IT, Communications, Customer Service, HR and Strategic
partnerships, such as Microsoft and Accenture. Launched as the 3rd largest retail
website, in less than 9 months.
* Developed three year operating plan to support the financial growth plans and
SG&A reduction.
* Designed matrix organization, shared service agreements, specialized
compensation programs and all other facets of HR for Bestbuy.com.
* Led staffing of 350 people in Bestbuy.com, over 250 people in Bestbuy and 100
people in Musicland.
* Renegotiated Musicland's real estate portfolio reducing lease expense and
minimizing store closures to 10% of stores.
* Moved Musicland comp sales from -22% to -8% in three months through
promotional and merchandising efforts refocusing on core categories, and
developing field compensation strategies.
* Re-launched Musicland.com sites by brand with a Yahoo partnership and created
an entertainment portal to be utilized by Best Buy.
* Reorganized from competency management to brand specific while reducing
overall headcount.
* Rolled out new concepts (Suncoast, Media Play, Oncue)
* Rebranded 230 On Cue stores to Sam Goody for a 20% sales increase in the
chain.
CHANGE MANAGEMENT
* Developed enterprise-wide change competency, program management of strategic
priorities; developed continuous improvement, customer-centric culture, and
deployed Lean/Sigma methods.
* Developed a "War Room" where all initiatives were scorecarded, and managed by
a cross functional team representing all areas of the company.
* Reduced project portfolio from $1.2B to budgeted $650M through strategic
prioritization process.
* Consulted with several Fortune 500 companies in strategic change areas
including, advertising effectiveness, vendor relations, creation of VMI system,
launch of Lean Six Sigma, and transition from B2C structure to B2B.
* Created a Business Operating Blueprint which identified core capabilities and
the process and technical architecture for the customer centric strategy.
* Developed financial business plans, budgets and operational processes for
BestBuy.com to either integrate or differentiate from existing Best Buy programs.
* Created an internal process development function to transition Accenture
consulting efforts in house.
* Created a Transformation Office to manage the outsourcing of IT projects to
Accenture.
* Designed and implemented both package and home grown systems solutions for
Merchandising functions at both Bestbuy and Musicland (including, Arthur, E3,
Oracle, I2, Intactix).
* Reduced project resources from 350 to 125 through consolidation and
standardization.
SUPPLY CHAIN MANAGEMENT
* Launched and transitioned several product categories including DVD, Office
Products, games, apparel, and books.
* Consolidated distribution for Best Buy and Musicland into one DC, achieving a
3 cents a unit cost reduction for Best Buy.
* Introduced new business, including Ticketmaster offering, Columbia House
offering, magazine subscriptions, youth wireless, and private label electronics
line.
* Led RFP process for selection and installation of third party logistics and
call center management for Bestbuy.com and transitioned both to internal
operations.
* Managed Bestbuy entertainment division from 2.0 turns to 4.5 turns, through
reduction in unproductive inventory, space management, and assortment revision.
* Improved Bestbuy instocks from 88% to 95% through DC and store balancing,
improved forecasting tools and streamlined DC and store receiving and put-away
processes.
* Reduced owned inventory to zero $ through the combination of above, and
improved vendor to DC lead times and payable terms.
* Introduced Inventory Management competency resulting in $250M cash over the
first three years.
* Maximized profitability of Bestbuy Entertainment categories through a
combination of space allocation, re-merchandising, pricing and labor initiatives.
* Oversaw the initial efforts for Best Buy in vendor managed inventory where
appropriate, for instance, Music and Office products.
* Developed all systems and reporting design for planning and allocation
functions, and oversaw installation and rollout of E3, Intactix, Arthur and
Oracle.
* Redesigned company Supply Chain systems and processes to transition from BtoC
to BtoB.
* Re-merchandised 450 Sam Goody stores to test consumer electronics and apparel
concepts.
* Managed payable terms and discount rates with vendors.
* Facilitated the inventory timing for new store openings and closures.
* Negotiated $15M in acquisition buying synergies.
* Managed the network changes required for multiple new and closing
Distribution Centers.
COMMUNITY SERVICE
Director, Board of Directors, University of Minnesota, MBA Consulting
Director, Board of Directors, Crisis Center
Member, Advisory Board, P29 Consulting
Volunteer, Minnesota State Senatorial race
Mentor, Menttium, Minnesota Women's Mentorship Program
Benefit Leader, Operation Second Chance for the recovery and rehabilitation of
service men and women
ACCOMPLISHMENTS / AWARDS
Graduate, IMD International School of Business, Switzerland
Featured, Twin Cities Business Journal, 2003 as one of the "Women to Watch"
President's Award Winner, Best Buy, 2004
Vendor of the Year Award Winner, Dell, 2008
PROFESSIONAL EXPERIENCE
Executive Business Consultant, ROIG Group / Optimal Advantage 2006 - Present
BEST BUY CORPORATION 1995 - 2005
Senior Vice President of Operational Transformation, 2003 - 2005
President, Musicland Division, 2003
Executive Vice President, Merchandising, Musicland Division, 2001 - 2003
COO, BestBuy.com, 1998 - 2001
Vice President, Inventory Management and Process Development, 1995 - 1998
Executive Business Consultant 2006 - Present
MUSICLAND GROUP 1985 - 1995
Inventory, Merchandising and Process Development Positions
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