Article by Fibre2fashion
As the pressure to perform in the retail industry increases with rising rentals, more competition, higher customer expectations and evolving trends, retailers are finding it increasingly challenging to manage and grow their retail business.
With the convergence of the demand chain which starts from the customer through to the distribution channel and the supply chain which starts from the suppliers to the stores, having an integrated efficient system and business processes in place is an important determinant to retail business success.
With a significant technological advantage and a good retail management software solution that complements their retail strategy, retailers will be able to gain control of their business operations through a single point of view, optimize resources, increase process efficiencies and lower costs.
However, an inherent fear of complex and time-consuming implementations with high costs is often a deterrent to making the required IT investment. Retailers sometimes make-do with a mini billing or small inventory system which may be able to support the business in its startup but fail to support the business growth with relevant functions and reports as it scales up. There are others which invested the time and resources to implement an expensive system only to realise that the system is not addressing its retail business needs comprehensively. In such cases, many retailers have then refrained from looking at other options.
Investing in a robust and integrated retail management software system could benefit a retailer in many ways.
