Use the right ERP for your Retail & E-Commerce Business - Part 2 #erp #retail #ecommerce

Full video: https://youtu.be/UErB9XwplD4

Part 2 of “Are you using the right ERP for your Retail & E-commerce business?”

Retail healthometer: https://mindamend.net/tools/retail-healthometer/

In part 01, we have covered the Top 12 features you must look into, while selecting ERP for your business.
If you have missed Part 1 of using the right ERP for your Retail & Ecommerce business, have attached the link in the description.

In this video, we shall see how an ERP can directly impact your top line and what happens when it fails.. We do have a Take-Away-Tip at the end of this video, so stay tuned till the end.

"Now, let's talk about omnichannel integration. Did you know that retailers with strong omnichannel presence retain an average of 89% of their customers, compared to 33% for those with weak omni-channel presence? It's crucial to maintain centralised inventory across all brick-and-mortar retail stores and online sales channels. This ensures that your stock levels are accurate and up-to-date, no matter where your customers are shopping."

"If you're an e-commerce-only retailer, maintaining a centralised inventory across multiple marketplaces and your own website can be a significant challenge. This is where a robust omnichannel system comes into play. You can seamlessly integrate all your sales channels, prevent stockouts or overstocking, and ensure smooth operations.

Whether you're running omnichannel or purely e-commerce operations, reconciling inventory and order transactions is critical. With multiple channels to sell online, each having its own operations and sales policies, managing all of these could be complex. An effective omnichannel system must ensure a significant reduction in manual operations. By automating the reconciliation of inventory and orders across all platforms, you can not only save time but also reduce errors by 70%, ensuring accurate stock levels and smooth order fulfillment."

Now lets move towards the Distribution Centre or Warehouse Management Module. This module is crucial for managing first-mile & mid-mile deliveries. The distribution center is the heart of a retail business. If it stops functioning, it can disrupt your entire operations and sales. A robust warehouse management system ensures that your distribution center operates smoothly, minimizing downtime and maximizing efficiency. Efficient warehouse management can improve ecommerce order accuracy by up to 99% and reduce cashflow blockages by 30%.

Choosing the right ERP can make all the difference in managing your retail and e-commerce business efficiently.

There is no single application that has all the capabilities, but you must plan for the entire infrastructure with multiple applications that seamlessly integrate to achieve true omnichannel retailing. If you are facing challenges with choosing the best-fit Retail ERP for your business, do get in touch with our experts and they shall surely guide you through.


The Take-Away Tip for this video is our a free health check report of your Retail Business with our Retail Healthometer tool..
Have attached the link in the description box, do try it out and share your scores in the comment section.

Thank you for watching, and don't forget to subscribe for more insights on optimising your retail business operations!

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#retailmanagement #ecommerce #omnichannel #erp #warehousemanagement #inventorymanagement #businessautomation #retailtechnology #digitaltransformation #supplychain #retailconsulting #ecommercesolutions