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.
Profound Infotech 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.