ARTICLES — March 24, 2021

The 5 Main Advantages of Enterprise Resource Planning for Retail Business

Retail is one of the growing business sectors across the world. The worldwide surge of Ecommerce and online retail is a good thing for both business owners and customers, but this growth puts extra pressure on the retail supply chain. Along with the growing industry, operational challenges and increased customer demands might lower the profitability of companies. With increased challenges, enterprise resource planning or ERP solutions have also become vital to sustain and keep up with changing customer demands.

ERP (Enterprise Resource Planning) is a suite of customizable applications that enables organizations to smoothly integrate and manage all major operations including handling multi-location stores, frequently moving stocks, pricing changes discount offers on products, and much more. More than that, ERP software also has the potential to fix various issues experienced by retail stores, and it can also make your business more accessible.

By taking advantage of ERP software, retail companies can eliminate lengthy and complicated procedures so they can run their business more efficiently. Here are the key benefits of ERP in retail business.

Inventory Management

Inventory is important for any retail business. Having control over inventory enables retail to stock to meet orders while removing excesses. An ERP software will address this challenge comprehensively by storing detailed information about each and every product available to ensure users know what items are stored in the inventory and what needs to be restocked.

Customer Satisfaction

Every retail business tries to treat customers better to ensure the highest satisfaction. ERP is also useful to analyze customer’s buying trends in the past so that management can understand their interests and maintain stock accordingly. As a result, the detailed history will help retail to modify the inventory to meet future demands and create coupons or deals to increase their sales.

Multichannel Integration

Omnichannel is one of many important concepts of today’s retail industry. In order to ensure all operations run smoothly, retailers often need multiple channels functioning simultaneously. ERP integrates all these channels into a unified platform, allowing departments to share information in real-time. Through this effective communication, employees can get access to the data whenever they need it.

Transaction Recording Automation

POS systems automatically record sales transaction details, eliminating the extra effort and scope of human errors when the task is done manually. ERP software can help to make sales transactions faster and easier and reduce customers’ waiting time for purchase billing. Along with this, ERP also provides real-time transaction data from every outlet, enabling managers to oversee the business happening in different places.

Increased Operational Efficiency

ERP enables retail businesses to capture, store, and manage information through an automated system to organize and simplify day-to-day operations and reduce manual efforts. Through the elimination of repetitive processes, ERP can increase their efficiency to ensure targets are met on time, thereby saving operational costs.

Implementing the right ERP for retail business is an important step to become sustainable, especially in hard times where challenges keep coming in. To reach success with ERP, you can start by implementing Robotic Process Automation to retain the benefits of legacy applications while leveraging advantages of automation. With this automation technology, retail businesses can unleash the benefits of ERP systems with higher efficiency. Start your free trial at https://telkomseliot.com/en/request-free-trial and begin building intelligent, efficient retail business operations to stay ahead.

NEWS — Mar 06, 2020
Take Control of Costs Once and for All

Don’t underestimate the damage small leaks can do to your bus

READ MORE >>
NEWS — May 21, 2021
How to Build a Secure IoT Infrastructure

Protect your company from data breach! Learn how to build a sec

READ MORE >>
NEWS — Aug 28, 2019
IoT-based Taxis Are Now Here, Thanks to Telkomsel and Bluebird

As an effort in nationwide improvement and acceleration, Telkom

READ MORE >>
NEWS — May 29, 2019
FinTech Indonesia: Banking the Unbanked

FinTech, or financial technology, is currently rising in Indone

READ MORE >>
NEWS — May 21, 2020
See Your Assets’ Condition with New Telkomsel IoT Solution

Telkomsel released a new industrial IoT solution for effective

READ MORE >>
NEWS — May 18, 2020
IoT and Its Role for eCommerce During Ramadan’s High-Demand Period

Due to high demands in the holy month Ramadan, eCommerce busine

READ MORE >>
NEWS — Jul 15, 2019
Ways to Avoid Pitfalls in Logistic Business Using IoT

In today’s global economic scenario, the logistics industry h

READ MORE >>
NEWS — Sep 09, 2020
Bringing Back Stability to Your Business with Industrial IoT

Ensuring business stability requires the right strategies and t

READ MORE >>