Posts tagged inventory management control system

Retail Management – An Effective Business Enhancement Tool

Online-MBA-in-Retail-managementA day in retail is dominated by incredible number of transactions both internally and externally with suppliers and customers. And the key to success lies in the efficient management of these transactions.And thus an intelligent retailer would pick the right store management software and not just a simple billing solution.

Lets dig a bit deeper…

In the Indian Retail Environment, we usually interact with 2 business modes.The first kind of retailers are doing business with a standalone POS system and the other kind are using a generic ERP along with a separate POS. And hence both parties lack control over the daily POS activities.After a close monitoring of the situation Ginesys has developed one solution which is synced and gives the retailer peace of mind and allows him space to expand his business empire.

A few highlights of Retail Management Software:

  • Reduces the amount of paperwork involved
  • Increases employee productivity
  • Supports all formats of retail including COCO, FOFO, SISand MBO.
  • Reduces turnaround time in processing orders
  • Increases customer satisfaction
  • Reduces data input time
  • Eliminates costly overstocking or stock outs
  • Reduces storage space needed for stocking materials

Ginesys retail management software can be an asset to your entire retail business. For more details on features of Retail Management please click on the link below:

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.


Use Retail ERP to optimize your Inventory and eventually your Bottom line

Inventory OptimizationA recent study published by Aberdeen Group,  emphasises  how Inventory Optimization is an innovative way to manage Working Capital effectively.

Inventory often accounts for the highest proportion of the working capital as raw material, WIP and finished goods.. From a financial point of view, especially in the case of small & mid sized Retailers, inventory optimization provides an attractive opportunity to raise the performance of both top line and bottom line.

The report further elaborates that Forecasting is a crucial aspect of Inventory Optimization. By using an effective forecasting tool that uses actual customer demand and inventory lead times, one can accurately predict demand for each stock locations. This can cut-down 15% to 30% of excess inventory from the supply chain.

Ginesys, with real time and accurate data capturing, results in effective reporting and decision making. This is very important in controlling the Inventory and maintaining it at an optimized level. This  can have a ripple effect on one’s bottom line, promote visibility and ensure better service levels to customers.


Inventory Management: Role and Benefits

INVENTORY ROLE AND BENIFITSInventory Management is the nucleus of supply chain excellence in the retail world and is the process of efficiently overseeing the constant flow of units into and out of an existing inventory. Effective inventory management plays an important role as it all about knows about what is on hand, where it is in use, and how much finished product results. It is a tedious task for manufacturers and retailers of all types and sizes to effectively manage the inventory levels and track goods throughout the supply chain.

Experts agree that effective inventory management goes hand in glove with demand forecasting and there are multiple benefits when you implement the inventory management software. Few benefits are addressed below:

1.     Forecasting and Planning: Forecasting is an important tool for company growth. Inventory management manages the current optimal stock level of the firm and also forecasts the future capacity requirements. Deep insight into Inventory management software helps to maintain the supply chain and thereby multiplies the efficiencies and service level of the firm.

2.     Move beyond the spreadsheets: It is difficult to get rid of the familiar ways viz. use of spreadsheets, but it is time to move on to the new inventory management software, which will ease the transition and reap benefits to the manufacturers and retailers.

3.     Cost Management:  Inventory Management Software ability to cut down errors and provide real time reporting on the inventory products eases the work a lot. It helps to respond to the demand as it happens and thereby making it very cost-effective.

4.     Customer Satisfaction: It helps in responding to the latest trends, seasonality, promotions & changing marketing conditions. Good inventory management software promises real-time information, which results in having the right products in stock for customers. As a result, customers get fast and quick response.

Ginesys Inventory management system is easy and integrates impeccably with the existing business process. It simplifies the process and translates the most intricate requirements into supply chain solutions that deliver instant results and help grow much easier.


Deliver through centralised logistics in Retail ERP

Logistics in Retail ERP

Imagine having all of your products at separate locations. Now imagine trying to deliver a product from each of those distribution centers to different locations. There are two ways of doing it : 1. Send it directly from one location to other. 2. Collect them at single location and  bundling the items to be sent to same location into single consignment and then sending the same.

Although the option 1, in theory, i.e operating multiple distribution centers doesn’t sound so bad. However, the  logistics of running multiple distribution centers or origins for products can become a nightmare to manage  in terms of Time ,Traceability and Logistics costs.

Ginesys Retail Software now has the option to manage the logistics centrally in which there will be a central distribution center in each of the regions defined. All the items, to be sent get collected at a centralized distribution center and bundled into single consignment meant for target location. These consignments are then dispatched to target locations. To achieve this you can fix the route, through which it will be transferred, in the software itself and make it a standard practice to follow.

With this option you can achieve operational excellence as it results in

  1. Easy tracking
  2. Reduced costs
  3. Timely delivery

Note: This feature is specifically for V11