How ERP for Retail Industry will Accelerate Growth?
- March 16, 2020
- Posted by: Shashi Ranjan
- Category: Retail ERP Software
Today even in India, the United States, the united kingdom, and many other countries, retail has quickly moved from a single store to multiple chain outlets either the company owned or on a franchise basis. These outlets are connected with one another and with the parent company via a common platform for the distributions. In these B2C industries (Business To Customer Industries) with a much heavy focus on the movement of the goods through the warehouse and to the shops is very important at the end of the every season.
Based on the seasons, ‘Drops’ are arranged and designed by the parent company to all their stores. During these times, it is very – very important for the company to not only manage and keep a record of all the inventory in a central repository but also automate the businesses with the strong back-office processes to enhance the overall readiness to beat the competition.
Retail based industries are already very competitive in nature as they have a lot of competitors and with that high operating costs involving B2C marketing (Business To Customer Marketing) and strategies to keep customers loyal to the brand. In such heavy competition in the market, the companies resort to using the local or the small software which might fulfill their requirements for the present but are soon they need to upgrade or find the new software. This is an added expense to the company. The company needs to forecast and think seriously about its ERP system (Enterprise Resources Planning system) and CRM system (Customer Relationship Management system) needs like their marketing needs.
Many old systems are still being used in most retail outlets. The problem with these systems is that they are very rigid and cannot be integrated with any other modern application. Also, many times, the company which had previously developed them might have been shut down. In these cases, it is very – very difficult for the company to integrate its system with any new technology. And they have to end up investing heavily in a new system.
For a retail company, it is very important to have a dynamic and scalable technology that can not only look after their requirements but also have other systems or add-ons plugged in them and create a central repository.
Scope of the System:
Most systems, are designed to focus on one thing like a warehouse, POS, PO Management. but what is required is all of them in one system or integrated into one major system so that the management can get a comprehensive overview of their sales and operations (S & O) and take the decisions accordingly. Microsoft and Oracle ERP and CRM software for Retail Business make it possible for generating intelligent MIS reports for the Business analysis and strategies. With an inbuilt BI (Business Intelligence) and the intelligent workflows, this part is handled very effectively.
Old systems once start to be overused, are very difficult to maintain. They start to need more development. They then become a drop cost for the company where it is neither productive nor efficient. While selecting a system, retailers must not forget the maintenance cost which can be very heavy on the pockets of the management.
Risks of integration:
There may be situations where all the functionalities required by the company are not in one system and they are using different software. The problem arises when one of them either has an upgrade or is replaced by newer software. The new software may not be compatible with the others and hence, there is a huge risk again for the company to incur more costs.
Microsoft and Oracle ERP and CRM Software for Retail Business in Peru, Singapore, Mongolia, Uganda, Ecuador, India, China, United Arab Emirates, Bangladesh, Netherlands, Qatar, Oman, Nepal, South Korea, Kenya, Sri Lanka, Tunisia, Taiwan, France, Saudi Arabia, Chile, Switzerland, Vietnam, Malaysia, Bolivia, Hong Kong, Mexico, Morocco, Philippines, Germany, Serbia, Finland, Belgium, Egypt, Brazil, Colombia, Canada, Poland, Austria has proven technologies to handle and run processes of a Retail Industry easily. With recent add-on developed for Apparel and Footwear Industries, Microsoft and Oracle ERP Software Solutions has specially modified and developed an entire suite fit for the Retail Companies.
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