As it is well known that for retail businesses to thrive and scale up, they need to constantly evolve and adapt to the ever-changing market and customer needs. It is an established fact that customers today value convenience a lot which is driven by new age internet-based technologies like eCommerce which is redefining the age-old practices of doing business.
Is eCommerce all about Shopping Cart?
The big question is, Is it sufficient to have an online presence with a Shopping Cart application for Retail Billing?
And the related questions are…
How do you manage timely fulfillment of orders without missing one single item?
How do you balance and ensure multi-channel ordering with optimal inventory without outages on physical or virtual inventory?
How do you prepare your merchandise for the seasonal surges?
How do you manage the inventory at different locations with inter store replenishments?
The answer to all the above questions is simple, you need to have a comprehensive platform for Sales, Inventory, and Purchase along with multi store operations feature, also called as Enterprise Resource Planning(ERP).
Why do businesses need a scalable and comprehensive ERP?
With your retail business growing steadily with new store additions, diversification, steep increase in the number of billing transactions, customer base broadening, just in time inventory requirement all will hit at the same time and you cannot afford to take the piecemeal solution approach.
The bottom line is that your ERP software need to support you when you scale up which would be possible only when it has been created keeping these requirements in mind using a superior Architecture.
A scalable ERP responds to the folloiwing needs
- Omni Channel Sales across Brick and Mortar, Phone Booking, Online eCommerce, and B2B and Direct Sales
- Multi Store Operations, with movement of goods from one store/ warehouse to another
- Support for Hybrid deployment approach or Centralised Control (On Cloud) and Decentralized Operations (On Premise)
- Adaptability to suit the retail format needs like Footwear, Restuarants
- Responsive and Mobile Support
- Multi Lingual and Currency Support
- Open Architecture that embraces integration with other software and applications in the ecosystem
- Extensive BI, Analytics, and Variety of Reports and Print Formats supported with room for customization and tailoring
Where does eCommerce fit in the whole landscape?
As mentioned above eCommerce is a crucial peice of the overall customer acquisition and engagement strategy especially with the proliferation of Mobile and Internet Technologies in post panedemic era.
A good eCommerce solution apart from being optimized for the web, need to work in tandem with the inventory management in an integrated manner, an important yet ignored area by retailers.