ERP Solution for Retail Industry

The trading industry is currently experiencing intense competition globally, with India exporting approximately $303 billion in total during 2018-19, a figure anticipated to grow in the coming years. As trading, distribution, and dealing sectors excel, the competition is expected to intensify. To navigate this challenging landscape, many trading businesses are adopting enterprise technology, with ERP software emerging as a favored solution.

ERP systems redefine complex operations for trading businesses by synchronizing departments, enhancing decision-making processes, improving outcomes, and increasing overall efficiency.

ERP Features for the Retail Distribution Industry:

  • Customer Loyalty and Privilege Card Management:

    • Create and manage privilege cards for customers.
    • Set customer types to privilege status.
    • Display privilege amounts and highlight remaining balances.
    • Establish formulas based on purchase amounts for use during repurchases.
    • Process payments with any payment type after applying the privilege card.

  • Offers Management:

    • Create and manage various types of promotional offers.
    • Implement exchange offers within sales orders.

  • Retail/Web POS Item Hierarchy:

    • Classify items based on:
      • Brand
      • Product Group Code
      • Product Category
      • Item Category
    • Access data both on-premise and via the web.

  • Sales Team Incentive Management:

    • Set up sales team incentives tailored to products.
    • Generate sales incentive reports, including flat incentive reports.
    • Configure brand setups based on brand type and category.
    • Apply sales incentives according to brand specifications.

  • Configurable Web POS Application:

    • Develop configurable applications for both sales personnel and purchasers.
    • Support multiple tender types and payment options.
    • Allow multiple payment methods for a single sales order.

  • Delivery Planning:

    • Plan deliveries on item cards and sales orders.
    • Generate outward planning for warehouse departments.

  • Complaint Management:

    • Manage customer complaints on a per-customer basis.
    • Link customer invoices and items to their respective complaints.
    • Export complaints seamlessly in Excel format.

  • Replace and Buyback Management:

    • Track replacement inward and outward processes.

  • Power BI and Business Intelligence for Retail Management:

    • Leverage Power BI for advanced analytics and business intelligence to enhance retail management strategies.

Retail/Distribution Solution Functional Coverage

  • Procurement Management:

    • Streamline procurement processes for efficient purchasing and supplier management.
    • Automate purchase order creation and tracking to ensure timely deliveries.

  • Financial Management:

    • Manage financial transactions, budgeting, and forecasting to maintain healthy cash flow.
    • Generate financial reports for better decision-making and performance tracking.

  • Deriving Accurate Profit Margins:

    • Analyze costs and revenues to accurately calculate profit margins across products and services.
    • Implement tools to monitor profitability and adjust pricing strategies accordingly.

  • Schemes Management:

    • Create and manage promotional schemes and discounts to boost sales and customer engagement.
    • Track the effectiveness of various schemes in real-time.

  • Barcode or RFID Integrations:

    • Integrate barcode and RFID technologies for efficient inventory tracking and management.
    • Improve accuracy in stocktaking and reduce errors in order fulfillment.

  • Interactive Analytics and Reporting:

    • Utilize interactive analytics tools to visualize data and gain insights into business performance.
    • Generate customizable reports to support strategic planning and operational improvements.

  • Accurate Sales Management:

    • Track sales performance in real-time, including order processing and customer interactions.
    • Optimize sales strategies based on data-driven insights.

  • Multi-Locations Inventory Tracking:

    • Monitor inventory levels across multiple locations to enhance stock visibility and availability.
    • Enable efficient inventory transfers and replenishment based on demand.

  • Automated Processes:

    • Implement automation in key processes to reduce manual effort and improve efficiency.
    • Streamline workflows across procurement, financial management, and sales to enhance overall productivity.

Retail/Distribution Industry-Specific Reports:

  • Product-wise Margin
  • ABC Analysis Reports
  • Deadstock Reports
  • Supplier Payment, Outstanding
  • Counter wise sales and cash.
  • Attribute wise/supplier wise sale/purchase tree reports, Attribute (Brand wise, Category wise, etc) Gross profit reports
  • Salesman incentive
  • Product replacement
  • Stock Taking Shortage/Excess
  • Product-wise monthly sale/purchase comparison report
  • Customer wise Sales Analysis

ERP Benefits for RetailDistribution Industry

  • Product-wise Margin
  • ABC Analysis Reports
  • Deadstock Reports
  • Supplier Payment, Outstanding
  • Counter wise sales and cash.
  • Attribute wise/supplier wise sale/purchase tree reports, Attribute (Brand wise, Category wise, etc) Gross profit reports
  • Salesman incentive
  • Product replacement
  • Stock Taking Shortage/Excess
  • Product-wise monthly sale/purchase comparison report
  • Customer wise Sales Analysis