Running a builder’s and hardware store of any size requires an integrated business management system that can deal with the everyday specifics of such complex operations. Here are two reasons why integrated merchant software is a must.
Managing your distribution centre efficiently requires a solution that can provide excellent stock control and process automation that improves accuracy and productivity. Achieve these benefits with an integrated solution:
Improving stock control performance leads to higher profit margins, increased sales, and better customer service for your retail operations while reducing costs.
Investing in retail ERP software that assists with advanced stock control functionality can digitise, optimise and automate the critical inventory management process. Here is how:
With every significant change in business comes a new set of challenges. Retailers need to adapt to these changes and its challenges or risk losing business revenue and market share.
Often the response to change is to implement systems and processes that help facilitate the transition. This exercise usually leads to multiple siloed systems that hinder operational efficiency across the board.
Whether you are using technology for your own benefit or to manage and operate a retail business, technology has a shelf life and needs to be kept up to date to perform at its best.
Granted, an outdated app on a mobile device has a different impact than an outdated retail management system that could affect inventory numbers, customer experience, and cash flow. Both examples highlight the frustration and inefficiency of obsolete or outdated technology.
There is no denying that many retail businesses often turn a blind eye to efficient stock management. Vulnerable to theft, mismanagement, and excessive expenditure, inventory can often lead to more headaches than initially estimated.
Old habits die hard, especially when it comes to business practices. However, in a world where technology has become the pinnacle of operational success, it’s almost impossible for business leaders to ignore the importance of technology within their businesses. In the same breath, how does a business leader differentiate their processes if they work? Here are a couple of tell-tale signs to assess whether you need to rethink some of your manual processes:
In uncertain or tough economic times, business leaders are always the first to voice their concerns about how to move forward. In the last decade, South Africa has experienced economic peaks and troughs, giving business leaders and decision makers more than their fair share of losses and triumphs. Now, with the newly-elected President of South Africa, local businesses expect to see a new dawn for trade and industry that will hopefully breathe new life into stagnant profit streams and growth.
As the popularity of emerging digital technologies increases, so does the face of the retail and distribution industry. While digital transformation has become an important aspect for business who want to keep up and continue to grow in this environment, it has also created concerns for those businesses that may, at some point, have fallen behind the curve.
As the retail landscape changes and becomes more technology-focused, it has become increasingly important for retail businesses to keep on track with the various trends that dictate the trajectory of industry. If you own or are responsible for local retail business, here are the trends you need to take note of:
