Posts tagged inventory management

Inter-Store Stock Transfer- Balancing inventory between stores


 

It’s often the case in retailing that merchandise is required at one store, but a different location has it. It can be a tricky situation because customers who want instant gratification may not wait and end up buying the same product from a competitor. Depending on its value and availability, it might be worth the effort to transfer the stock from a different store, thereby avoiding any sales loss. While such scenarios may not have a huge impact, in the event of peak season sale, unavailability of stocks could result in considerable amount of sale loss.

Store Transfer

Ginesys POS software is equipped with store-to-store transfer feature, which allows instant stock transfer from one store to another, avoiding sales loss and boosting revenue. The same is reflected in accounts as well.

Some of the benefits of store to store transfer are:

  • Sales- Even if the stock is unavailable at one store, sales isnt lost.
  • Customer Satisfaction- With avoiding situations of out of stock inventory level, customers don’t return   empty handed.

Ginesys media coverage on Zee business.


On 4th May 2014, ZEE Business covered Ginesys on the solutions and the services in retail value chain.

Soumyadip Bhattacharya, Software Development Head of Ginesys highlighted the business benefits of ANALYTICS in Retail in multiple aspects.

1. Identify cross-selling and up-selling opportunity:  Coherent customer data helps retailers to leverage up selling and cross-selling. It helps to understand customer buying pattern and maintain customer relations.

2. Improve Efficiency and Streamline its operations:  Analytics helps to have deep insights of the business and thereby streamlines the operations. It helps to identify which store, product, SKU, brand that is selling the most. All the information is centralized and is viewed on dashboard and thereby saves lot of time and eliminates inefficiencies.

3. Business Projection Trajectory:  Analytics as a trajectory tool in projecting the complete view on customer and competitor experience and opportunities that lie ahead as it records all the data incurred at a period of time and have an advantage of it.

Please click on the image below for the complete coverage.

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V-Mart organises supplier meet ‘Shayog 2014′ to commemorate Ten years


 

8 February 2014 saw the leading value retailer in the country, V-Mart completing ten successful years of journey in retail. To commemorate all leading suppliers for their strategic association in the past decade, V-Mart had organized Shayog 2014. Shayog as the name has it, stands for “Collaboration”. This mega-event was held at Four Points Sheraton, New Delhi.

2014-02-08 15.36.37The event unfolded with the top management, headed by Lalit Agarwal, CMD of V-Mart deliver the keynote address in the august presence of nearly two hundred business partners.

Prashant Lohia, CEO & Founder, Ginesys, presented his views in the panel discussion –  “Transformation from a Manufacturer to a Brand”, sharing the podium with eminent panelists, notably: Jeetmal Jain (JM Jain), Mahender Bajaj (Harra), Rajiv Goenka (Shipra Commercial) and other dignitaries.

One of the highlights of the event saw Prashant Lohia unveil the V-Mart Supplier Portal Dashboard powered by Ginesys. “Suppliers can login and view their real-time performance in V-Mart wrt their sales and stock data”, Mr Lohia reinstated.

The event saw, Chandradeep Sen, Head – Marketing & Business Development of Ginesys, present his views on  “How Technology can empower a Manufacturer’s Business”. In this interactive session, he talked about how IT can be leveraged for business growth. Mahender Bajaj (Harra) and Rajiv Goenka (Shipra Commercial) highlighted on Return on Investment after implementing an ERP solution.

V_Mart_Logo (1)This retreating winter saw the day conclude with a cultural program and a glittering Award ceremony to recognize leading suppliers of V-Mart on completion of their association with V-Mart in the past decade. Suppliers witnessed diverse management topics ranging from gaining ‘consumer insights’ to ‘strategy’, ‘process efficiency’ to ‘vendor policies’ and ‘enablement of business growth by leveraging IT’. Such vast exchange of knowledge kept the audience at the edge of their seat, thirsting to absorb more.

At Ginesys, V-Mart has been our esteemed client since the day of inception. We, at Ginesys, are beside ourselves with joy to be an integral part of this jubilee and bring you this news feed.

Vendor Managed Inventory is the key to Success: Retail Experts


VMI is the Key to Success

Prashant and Rohit were recently quoted in an Images business of fashion article.”Leading regional fashion retailers in India are taking the lead in setting up VMI infrastructure that is facilitating higher efficiencies across the supply chain.” – says Prashant. “One clear trend is of smaller and regional retailers – driven by competition from EBOs and other MBOs – now asking for VMI solutions,” said Rohit.

The article not only states that it a necessary factor to grow but is not possible without proper integration of Technology into the operations from POS to Inventory. The fact was supported by the comments from Retail experts from both operations and Technology front.

You can read the full article at the link mentioned below:

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