With a global business of more than 22 trillion $, Retail industry is one of the fastest growing industry in the world and the scenario is no different in Indian business landscape. With more and more businesses plunging into their own eCommerce (online retail), the offline retail market is facing tremendous pressure with margins getting thin every passing day. With such fierce competition and increasing pressure of customer satisfaction, retail companies are on the hunt of finding the right software which can check all their pain points putting them at the forefront of customer preference.
Thankfully, their is SAP Business One which encompasses the entire software and database framework backed by robust front-end POS solutions which can automate the retail operations of any company. Here are some of top of the line features which make SAP Business One the right solution for almost every retailer out there:
- Optimized cycle times right from ordering, picking, packaging to shipment and delivery
- Integrated peripheral infrastructure like bar code scanning, printing, RFID and other tracking mechanisms
- Automated order placement and stock replenishment to prevent costly stock outs Provide insights into customer purchase pattern and suggest items to stock
- Create discounts and offers effortlessly and disseminate across all stores in the network
Apart from these functionalities, there are some key pillars on which SAP Business One forms a firm foundation of a profitable retail business:
Material Tracking – SAP Business One allows ensures accurate tracking of inventory items at various levels right from ordering, receipt, stocking and then delivery to stores. Inaccuracy at any of these steps can result in dispatch delays which can result in customer dissatisfaction and loss of revenues
Sales Forecasting – SAP B1 keeps a comprehensive sales records of all the items over years fusing it with current market and economic trends to predict future demand accurately, enabling business owners to take informed decisions
Dashboards – SAP Business One for Automobile Industry offers comprehensive dashboards for all the critical KPIs like revenues, region wise sales, channel wise sales (e.g. e-commerce and offline retail) no.of stock outs etc. which can be drilled down into micro details.
Inventory Control – SAP B1 allows the its users to have a macro view of the entire inventory across various stores and warehouses. This allows them to take quick decisions regarding stock transfers that incur minimum lead time and transportation costs.
From above points we can easily conclude that SAP B1 can act as a fundamental foundation of any retail business across any industry be it apparel, grocery, electronics or food. The best part of SAP B1 is that it can be hosted on cloud and can be availed as SAAS model without incurring hefty IT infrastructure costs. With retail industry growing leaps and bounds SAP B1 continues to evolve to help retailers establish new benchmark of customer satisfaction.