Posts tagged ERP software

Multiple Cash Discount can be applied in AP voucher


cd3Ginesys retail ERP software has now introduced the flexibility of applying different cash discounts for the same vendor depending upon payment conditions and different items.

Suppose a vendor offers a cash discount of 10%, if payments are made within 60 days. Now, for some reason and if the payment is delayed after 60 days then he will only allow 5% cash discount.  Or if the vendor offers various cash discounts on different departments under his company. So the user can apply all these manual cash discounts on AP entries during document adjustment in the retail ERP software.

Thus, cash discount percentage can now be modified while making payments using AP Voucher.

Auto-email payment advice in Ginesys


email2Now when you create a new payment advice in Ginesys you can automatically send a listed vendor email id an email with the advice and the invoices cleared in that payment with all details. It will make your life easier by having to deal with fewer enquiries asking when they will get a certain payment and seeking explanations of payment made.

These kind of features in the retail ERP  help suppliers as well as merchants in the retail eco-system

Why SMEs need regular ERP upgradation to survive

In sectors like retail and lifestyle, efficient ERPs are increasingly becoming an integral aspect of operation. The main facet that governs the growth of the mid sized firms is the ability to adapt with changing market trends. It is imperative to say that the smaller firms have not the infrastructure or revenue to upgrade always. While the whole infrastructure overhaul can be intimidating, slackness in upgrading some basic aspects like ERP might be disastrous to the long term plan of any firm.

The modern retail industry is progressive in nature with mobility being a basic feature. It is increasingly becoming synchronized with cloud integrations, extended reach and ROI centred decision making.

The changing scenario of organized retail has put the smaller firms under duress. The need is to be flexible and interactive to market demands. Investing in modern ERP is thus a pivotal aspect of sustenance for SMEs. To understand the aspects which make ERP upgrades so important, we have to delve a bit deeper.

erp_for_smes

Recent studies suggest that 25% of SMEs are keen on investing on better ERP for their retail business and the trend can be attributed to the following reasons.

Reason #1 Optimized costing

Reducing cost is no more a challenge to the retailers/manufacturers. Rather, optimizing cost to fine tune quality and quantity has taken centre stage. Real time ERP information makes it easier for firms to make spontaneous moves and reduce operational costs to as much as 23% (Ref: Forrester Research)

Reason #2 Systematic Production Techniques

In current retail scenario, SMEs are increasingly getting dependent upon the relevant technologies. From complex order processing to enhancing operating efficiency, these technologies run optimized only when the resident ERP system is well equipped to integrate them in the system. On-time deliveries for SMEs can experience up to 24% increase with proper integration of latest technologies along with the resident ERP. It is imperative to say that this is a major factor for evaluating the functionality of the ERP from time to time.

Reason #3 Optimize growth

Exponential growth for a retail firm sounds tempting, but the picture is not likewise in reality. Mismanagement of data is a common factor when it comes to incessant data tide. One can only imagine the effect data misinterpretation can have on the long term attributes of the concerned firm. From growing firms around 28% of tech spending is thus aimed at fine tuning data management and most importantly to grow with business volume. This facet also necessitates one to evaluate the potential of the resident ERP to scale up according to business growth.

How is your current system performing?  Is it in sync with your business aspirations?

Get an analysis of your current system from the experts: +91-9654551109

Get to know how your business can do better: www.ginesys.in

 

Planned replenishment – why serious retailers fret over it.

Retail is synonymous to competition and the retailer who is well stocked to meet consumer demands, often has the last smile. It is though easier said than done to fine tune  the balance between demand and supply. That’s why retailers are becoming increasingly serious with the aspect of planned goods replenishment.

Challenges that retailers face in goods replenishment

The retail value chain is infected with pitfalls, creating bottlenecks and slowing down operations. Even the most efficient retail operations face occasional hiccups which slows down the deliverables, resulting in prospective revenue loss. Some common challenges that modern day retailers face are:

  • Wrong dispatch of goods

  • Maintaining the balance between inter-seasonal and intra-seasonal dispatches

  • Bridging the gap between lead times and sales quantities

  • Limited flexibility in supply chain to counter fluctuating demand

  • Wrong demand estimate

While manual error can not be always checked, procedures can be put into place to automate demand replenishment and ensure that retail stores are always ‘optimally’ stocked.

Importance of customer attitude mapping with demand maps

Customer attitude is what drives demand and it varies with demographic, location, occasions and income levels. Needless to say, one has to drill through huge amount of data to decipher the actual demands against specific parameters. For big level franchises, the task of mapping demand becomes even more complicated. Retailers thus are in the lookout for modules which will help them streamline product replenishment planning effectively. This is where automated demand maps come into play. A comprehensive demand map effectively answers the following questions in retail supply chain: replenishment

  • What to produce/procure transfer?

  • When to produce/procure transfer?

  • Where/how to produce/procure/ transfer?

  • Where to despatch the goods?

  • How much to despatch the goods?

Easy data projection aids better decision making

Data clutter is nightmare for retail decision making and certainly one that needs simplification. Staying true to this philosophy, retail planning modules are adhering to simplistic interfaces and flexible maneuverability when it comes to deciphering decision pointers. In a revenue spinning retail market like India, ( predicted to be worth $ 950 BN by 2018) timely and accurate demand data is key to sustaining in the increasingly competitive market.

GINESYS has had an intimate relationship with Indian retail for the last fourteen years and that enables us to understand the pulse of Indian retail. Understanding the need for a comprehensive planning and replenishment platform, the developers of GINESYS are developing ADRENO – a planning and replenishment module for retail industry.

Inside Adreno – where demand and supply collate.

The need for decision making flexibility is well answered by the core algorithm of Adreno. The mobile-friendly intuitive graphical presentations gives a retailer the birds-eye view of where the demand lies and at what frequency.

Flexible and automated Replenishment Planning from GINESYS provides:

  • Dispatch system which takes into account the article-category, store plan and the latest sale trends.

  • Parameter wise system that can handle the dispatches during the beginning and end of a season and seasonal changes.

  • Flexible replenishment model enabled with a flexible algorithm which changes in tandem with demand map.

  • Dynamic stock routing for real time stock manipulation.

  • Graphical and mobile friendly demand maps for easy decision making

It is imperative to say the ADRENO takes into account historical data of the retail franchises to come to an well-informed conclusion. The result? A fully automated planning module which maps demand and initiates supply accordingly.

To know more about retail planning, visit: http://ginesys.in/solution/planning/

Call GINESYS for a free consultation: +91-9654551109

 

Mufti overcomes operational challenges with Ginesys Solution


Mufti BannerSynonymous to ‘Alternative Clothing’, this leading apparel brand Mufti was looking for a solution that would bring all of its businesses and processes together in a synchronized manner. The company wanted a cost effective solution, which is easy to implement and smooth to operate.

Business Challenges that Mufti had:

Lack of data synchronization:Prior to selecting Ginesys, Mufti was running local software to manage their daily operations. However, the software had major shortcomings such as data discrepancy and lack of data synchronization. With more than 200 outlets spread over different geographies and having a heady mix of EBOs and MBOs, the problem only multiplied further.

Integrating operations: Ginesys provided a solution which integrated front and back-office operations. Working with the fledgling IT team of Mufti, Ginesys was able to improve visibility into daily operations, control on sales stock and consolidate store information.

Standardized business process: The company was able to map their sales process with correct tax parameters and stock transfer to EBO. Another achievement was to comprehend the traditional business processes of Mufti and implement a standardized business process.