CarMax, one of the top used car retailers, has spent several years changing how they operate by focusing more on products and mobile smartphones than ever before.
It's "shocking the system," Shamim Mohammad, Senior Vice President and Chief Information and Technology Officer of CarMax explained.
Now the company is applying the same kind of radical thinking to change the way consumers buy used cars. Richmond, Virginia-based CarMax is rolling out an omnichannel business model allowing customers three options to buy a used car 100% online, start online and finish in the store, or start in the store and finish online.
The IT journey to the new business model began several years ago, when CarMax moved away from the traditional IT focus on implementing projects and toward a philosophy of quickly building tech-enabled products, according to Mohammad.
The goal of this shift was to innovate faster.
The new product orientation was a result of several steps, Mohammad said:
Selling the idea to the company's other C-level executives
Adopting agile methodologies for quickly producing software enhancements
Measuring IT output based on business outcomes instead of lines of code
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