5 Ways to make your retail business more efficient


If you own a businesses in the retail sector, you’re going to face specific issues that are unique to your industry. Finding the right business management software is vital, especially since it will need to link to the various aspects of your business, from the tills in your store(s) to where you store your stock, whether that’s on premises or at an off-site warehouse.

A 360° view of your business will allow you to highlight any issues before they impact on efficiency and start to affect your business processes. Finding an Enterprise Resource Planning (ERP) solution that allows you to access and manage data is important, but finding one that recognises industry-specific issues is vital when it comes to solving any of your retail problems.

One way to optimise, automate and streamline your business is using Microsoft Dynamics NAV; a single, fully integrated business management solution for retailers. As ERP matchmakers, we connect retailers with Microsoft partners who have specialist knowledge of the retail industry.

To get you started, here are 5 ways that the right ERP solution can improve the efficiency of your business;

1. Improved Visibility

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By directly integrating your ERP solution with your Point of Sale system you can increase efficiency and improve the visibility of everything from your inventory and financials to customer tracking. With a broader understanding of reporting at every level of the business you can build a clearer view of where improvements can be made, allowing you to make more effective decisions.

 

2. Automatic Ordering

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By recording the status of your stock in real-time and automating your order processes, you can automatically replenish stock whenever it runs low, reducing your inventory levels, minimising wastage and decreasing inefficiency.

 

3. Customer Experience

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Exceptional customer service is the foundation of every successful retail business, so ensuring that your customers have a seamless buying experience is vital. Full integration of your ERP solution with systems both in store and online will mean that you can communicate consistently and regularly with customers, giving them precisely what they need, when they need it.

 

4. Centralised System

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An ERP system will allow everyone to access the same information at the same time, wherever they are. Retailers with multiple outlets can ensure that processes like pricing can be managed centrally at head office. Information and data from off-site warehouses and other remote offices or stores can be accessed and managed by anyone in the business. 

 

5. Powerful Reporting

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Keep on top of the latest reports from every aspect of the business and get up to date information on everything from financial records and stock levels to store profitability and buying trends. With access to the latest data, you’ll be better placed to make effective decisions and move the business forward, planning for growth and maximising efficiency for the future.

 

These are just 5 of the many reasons why retailers should invest in ERP, you can find even more in our Quick Guide to NAV for the Retail Industry, which you can download here. You can also see in our Dunster House Case Study how this manufacturer and retailer increased efficiency and turnover by replacing their system with Microsoft Dynamics NAV.

DOWNLOAD OUR QUICK GUIDE TO NAV FOR THE RETAIL INDUSTRY

If you want to improve the efficiency of your reporting and make a different to your next retail project, get in touch with us today.

 

Written by Mark Blackmore, Head of Telemarketing QBS Group


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