Retail Management Solutions
The retail industry has gone through a phenomenal change over the last few years. The customer of today is well educated about the products, prices and the competition. Social media and has also enabled the consumer to find out their options and the review before they even step into the store.
1. Shrinkage â€“ theft, obsolesces, changing labels; and spillage
2. Inventory Overstocking and shortages
3. Knowing the customerâ€™s preferences and choices
4. Fast checkout
5. Customer relationship
6. Web presence
Empowering you to deal with these challenges
You must have the ability to serve the customer not only through excellent customer service but also by meeting their exact needs. Knowing which styles, colour and sizes are gaining popularity right as it happens is the first step of knowing what to buy and to stock. This not only increases sales and customer satisfaction but also decreases the chances of inventory obsolesce.
Nurturing a relationship with the customer is an important aspect of any business. Keeping the customer informed of the new products and services being offered, special sales offers and promotions, and keeping up with changes in the market trends are some of the examples of how you can develop customer loyalty. Imagine having the ability to know the sizes, important dates or preferences of your retail customers and then sending them greetings and promotions tied to their specific information.
Are you able to serve your customer quickly? Surveys have found that customers often leave the items on the checkout and walk out if they are made to wait for more than three minutes. For other customers, the features like layaway, work order or gift receipt may be very important
Below is a partial list of the features in ERP solution that are critical for Retail business
1. Inventory Control
a. Lot and Serial number functionality
b. Landed cost calculations
c. Min/max, Reorder Point, Reorder quantity
d. Item number with SKU ID, lot number or serial number
e. Department and categories that an item belong to
f. Customer information including phone number, sizes, family information and important dates
g. Matrix and Lot Matrix items
2. X and Z reports
a. Blind Close
b. Generating bar codes and printing labels
c. Customizing labels
d. Customizing receipt and other forms
e. Vouchers and Gift Cards
f. Buy X and Get Y and other promotions
g. Multi store polling and consolidation
3. Requisitions and Purchase Orders
4. Substitute items
5. Many more â€¦.