Manually collecting, processing and managing data from physical store locations is a highly inefficient way. It’s time-consuming, error-prone, and isn’t fit for purpose in today’s fast-paced retail market.
The more stores you have, the harder it gets to manage them. Not only that, demanding customer expectations mean you need to justify your decisions – and well-informed ones at that.
Cloud-based supply chain systems work for retail chains by automating the connection between suppliers, warehouses, stores, transport firms, and customers. So, you may focus on making decisions that drive your business forward.
There are many supply chain management system providers, like comactivity for retail chains. And if you have made up your mind about getting one, this list of supply chain management systems is just for you.
Retail ERP Systems
ERP software refers to an integrated suite of business management software that helps businesses manage their entire operations. It provides the capability to integrate, track, and control all the different aspects of a company’s operations. ERP software can improve a business’s productivity by removing inefficiencies in processes and making it easier for users to access global and local trends.
In addition, ERP software can help streamline decision-making processes. As a result, it helps companies make better-informed decisions about their operations and explore new opportunities without wasting time on unnecessary tasks.
Inventory Management Software
Inventory management software is designed to help businesses handle their inventories better. It helps them reduce errors, improve efficiencies, and ensure that they are not overstocking or understocking products.
Companies of all sizes widely use inventory management software for a variety of reasons. It can be used to:
- Maintain an accurate inventory to maintain financial control over the business
- Save money by reducing costs and time spent on managing stock levels and shipping.
- Give customers access to products they order for same-day or short lead times.
Point of Sale (POS) Software
Point-of-sale software is becoming an essential tool for retailers and the retail industry. To stay competitive, retailers need to leverage these features and the benefits of POS software.
- POS software can reduce store labour costs by automating tasks that would otherwise require human intervention.
- POS software can improve customer experience by providing a seamless checkout process that is easy for customers to understand and follow.
- POS software allows retailers to reach more customers and increase revenue by offering online purchases.
The number of businesses using e-commerce software for a retail chain in 2021 is expected to be approximately 18.2 million. It is an increase from the 10.6 million companies that used it by 2018.
Ecommerce software is becoming more popular because of its convenience and affordable rates. The positive effects of the e-commerce software are evident in the increasing sales numbers and customers who buy from retail chains with this technology.
Ecommerce software is becoming more popular in the retail industry. It helps businesses in a variety of ways:
- Provides Brand Protection, Inventory Management, and Loyalty Programs
- Reduced labour costs by automating repetitive tasks like inventory management and credit card processing
- Helps manage supply chain and distribution
Payment Processing Software
It is an application that enables businesses to accept payments online, in-store, or over the phone. The software also helps businesses communicate with their customers better by adding analytics and marketing features.
Some payment processing software features include:
- Automatic payments based on a recurring billing cycle
- Automated refunding and chargebacks
- Automated reconciliation of bank account
- Quick setup and onboarding
- Multi-currency options
With more and more people looking to buy online these days, the role of retail management software is playing an ever-greater part in the future of retailing. There are many vendors that offer retail management software solutions all in one place.