Most retailers are facing a complex operating environment. Most of them are shifting attention to technological intervention, particularly Enterprise Resource Planning Software. But what retailers actually need to look for in an ERP solution? This article will discuss a starter-topic as early consideration for those retailers who are aiming at ERP implementation in their organisation.
Retailers need to sell seamlessly across multiple channels and they need to deal efficiently with a huge number of daily transactions. In order to able to accommodate an increasing global customer base, they need to deal efficiently huge number of transactions in daily basis.
Current Issue
Most addressed issue for some retailers, front-end innovation is being favored ahead of hollistic change. And, as a result of this, back-end processes are struggling to keep up with the rest of the business. Addressing this mismatch is critical.
An efficient backend system allows any retailer to effectively manage its inventory, supply chain and orders. A key part of this is the ERP system, which helps retailers bring their disparate systems together and allows for a complete view of operations.
For instance, an ERP can allow a food and grocery retailer to better instruct their farmers on how much of what produce to deliver the following week. Fast fashion retailers can tell their manufacturers which garment designs are flying off the racks. Sport apparel retailers can forecast which styles and colors will be popular a season in advance.
Not only improving their technological side, but retailers need to find an ERP supplier that understands their industry as a whole regardless of their digital state. Read the transition guide to Dynamics 365 here
Here are few takeaways for retailers to look for in an ERP solution:
- Look for easy ERP implementation. A suitable template solution will help as it’ll keep installation time and costs down.
- Find an ERP solution that enables a holistic view. It’ll help you improve your instore experience and automate the way sales are fulfilled online.
- Allow room for growth. A cloud solution can give you the foundations to operate as well as the option to add more users as necessary.
- If you plan for international expansion, make sure your ERP solution can support multiple currencies, languages and jurisdictions.