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.

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