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Overview

There are varied functional areas for retail business. Today Retail is one of the most promising businesses all over the world. Many major companies have diversified in to retail operations as it is being perceived as one of the most happening business globally. Today retail business operates in various ways and forms and also with increasing complexities in order to stay ahead of the competition. But, to manage these activities one needs to have a dedicated and a reliable integrated business application which can integrate both stores operation in the front-end and back-office at the back-end. Though the organizations have a legacy system running but these applications are not integrated, duplication of work cannot be avoided and hence on-line, accurate and up-to-date reporting is ruled out.

Hence there is a dire need to put in place an Integrated Business Solution that would present to the process owners and decision makers of organizations a seamless view of various functional domains viz. Retail Management, store management, sales management, purchase management, inventory & warehouse management and financial management with proper control and monitoring mechanisms in order to facilitate better and faster decision making in a structured manner.

Ontrack?s Capability on Retail Management System

The Integrated Business Solution is expected to fetch the following business benefits for the organization:

  • Up-to-date information on sale per retail outlet.
  • Better Cash Flow management thanks to online information on cash flow.
  • Better management & monitoring of stock movements thanks to online information on stock position/stock-outs/over-stock.
  • Timely alignment of promotional schemes to customer demand thanks to online information about demand fluctuations.
  • Timely action on customer feedback thanks to online information availability.
  • Greater visibility at every level of the supply chain.
  • Centralized planning, control and execution thanks to availability of online centralized information repository.
  • Faster response to business need and hence greater business efficiency and cash flow.
  • Better utilization of resource.
  • Complete data integrity.

Case Study

Retail Management System of a large Retail Marketing Chain owned by a reputed business conglomerate in Bhutan with diverse operations in India. 

Background

Our client, a large retail marketing chain, was looking towards an integrated system that will link all their Point Of Sale (POS) stores with 10-15 POS terminals per store and at the same time will also integrate their back-office operations. The key areas that needed to be addresses were Inventory / Finance / Sales / Distribution / Home Delivery process Automation / Loyalty Program / Packaging and Selling. The application should also be extendible to cover and manage business activity in Multiplexes, Project Management Operations, Manufacturing and Hyper Malls. The following were the challenges-

  • Up-to-date information on sale per retail outlet.
  • Better Cash Flow management.
  • Better management & monitoring of stock movements.
  • Timely targeting of promotional schemes to customers.
  • Timely action on customer feedbacks.
  • Greater visibility at every level of the supply chain.
  • Centralized planning, control and execution.
  • Faster response to business needs.
  • Better utilization of resources.
  • Complete data integrity and centralized control.

Ontrack?s Contribution

Ontrack?s Retail Management System was implemented spanning the following five key management areas-

  • Retail Management.
  • Purchase Management.
  • Inventory & Warehouse Management.
  • Sales Management.
  • Financial Management.

Harmonization of all the above functional units accrued the following benefits-

  • Greater functional coverage.
  • Efficient accounting with efficient cash flow and closure of books.
  • All information including stock position available at any instant to all those who need it.
  • Elimination of manual reporting leading to accurate outcome.
  • Improved quality of Business Information Management.
  • Improved scalability to cover upcoming POS.
  • Takes care of all present taxation policies and regulation with flexibility to address future changes.
  • Efficient Business Intelligence System and laying the foundation of futuristic applications.
 
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