There are a few things to consider when considering a retail ERP solution. Here are the top 10 retail ERP features that you should include in your ERP request list when reaching out to a vendor. Retail workflow automation
Retail consumers want a consistent shopping experience, whether they are in an offline store or ordering online. Retail ERP allows retailers to consolidate all online, traditional, wholesale, phone, and mobile sales into one easy-to-use system. Understanding this insight allows the system to automatically route orders to the warehouse, update order status, mark special orders, and reduce completion costs per order with advanced workflow automation thanks to ERP. Businesses can also gain real-time insight of sales via instant reports and consolidated accounting; thus, companies can make better business decisions. You can also use this data to approach your customers in a personalized way every time they shop across all of your sales channels, ultimately strengthening your relationship with your retail and wholesale customers. Real-time inventory management Businesses can easily manage an accurate inventory via automatic updates in the sales channels within a retail ERP solution’s inventory management functionality. You can see your inventory across all locations in real-time, which makes sure quick restoration of your best-selling products while aiding in the phasing out of low-selling products as well. Because the inventory management process is streamlined and automatic, you’ll gain clarity on profit margins you see on each order, and the ability to access inventory reports, historical sales data, and real-time sales reports, leading to a faster-informed purchasing decision. Integrated warehouse management One thing required to reduce the processing costs and errors is efficient warehouse management and order fulfillment. Products need to be moved in and out of the warehouse quickly and smoothly for fast product rotation and to process orders as efficiently and simply as possible. Otherwise, the retail ERP’s integrated warehouse management capabilities must support barcode scanning, inventory counting, and returned inventory. They must be fully integrated with the entire business operations, including inventory management, order management, purchasing and supplier management, customer service, and accounting. As a result, you can reduce the delivery time, eliminate errors, reduce handling costs and save time; therefore, you can increase sales. One of the most popular ERP solutions is Odoo. There are many trustworthy Odoo partners that you can contact and ask for their help with your Odoo ERP implementation.
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November 2020
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