HOW ERP HELPS RETAIL INDUSTRY STREAMLINE OPERATIONS

The retail industry is totally focused on the sale of merchandise or goods from a particular location for direct consumption by consumers. The backbone of this industry is its operations as well as supply chain management which needs to be streamlined for impeccable working of retail business. In today’s dynamic business world, the retail industry has to constantly upgrade itself. With infinite range of customer choices, wide use of internet, fierce competition and a complex economy worldwide, retailers need to stress on finding unique ways to sustain as well as grow their business. Traditional growth models no longer enjoy returns on investment and successful retailers are only those who are able to change and adapt to the environment whilst respecting the dynamics of present business trends and adapting current business processes and technology accordingly.

To keep themselves competitive and to perform better in this fast growing retail market, all retailers need enhanced technology- an ERP system that would bring all of their businesses and its processes together and also facilitate data sharing beyond the organizational and geographical barriers.

Role of ERP in retail sector

An enterprise resource planning software system or ERP helps streamline operations in the most effortless or easy way. Some of the important qualities of ERP solutions are that it supports and aids product development, which entails ideation, trend analysis, collaboration with different suppliers and partners in the supply chain; procurement, which includes working with diverse manufacturers to fulfill orders in accordance with deliberated merchandising plans; optimizing cost, quality; successfully managing the supply chain, which involves handling logistics and overseeing trade and procurement requirements; selling goods across a range of channels to direct customers, which requires brand management; managing mark-downs, capturing customer feedback and reactions, analyzing data, and using it all to optimize the next phase of business and the design process.

ERP has truly reconstructed and revolutionized the way business is conducted today. The power of an ERP software system to provide updated and precise information across different business functions is what makes this application so effective and valuable to retail enterprise. The backbone of this industry is its operations as well as supply chain management which needs to be streamlined for impeccable working of retail business. In today’s dynamic business world, the retail industry has to constantly upgrade itself. With infinite range of customer choices, wide use of internet, fierce competition and a complex economy worldwide, retailers need to stress on finding unique ways to sustain as well as grow their business.

Nadeem Jafar is well known author associated with ESS India. He is writing on his experience about Latest Retail ERP softwares and Advanced Opensource ERP Services introduced by www.ESSIndia.com.

This entry was posted in Retail. Bookmark the permalink.