V mart a leading fashion store in India has reached century of stores in the Financial Year 2015. The 100th store opening not only marks substantial growth in this market, but moreover it represents the continued enthusiasm and hard work team V mart has put in.
V mart primarily operates in tier II & tier III cities and they operate in 86 cities and 12 states.
V mart has been a cherished customer of Ginesys who uses it end-to-end viz. from procurement to production to sales to analytics.
There are broadly two ways a Retailer can grow
- By Increasing Sales and eventually Bottom line
- By decreasing costs to improve margins
Wherein the former focuses on front-end customer operations and the later on back-end operations viz. supply chain.
Effective Optimized Purchasing is the need of the hour. Recently, a study by Barclays has emphasized on the importance to consider factors that creates value for retail customers which in turn reflects in the supply chain strategy. The study emphasized on the importance of price, quality and timeliness to customers. It also talked about achieving cost efficiencies in the supply chain by building quality and long-term relationships with suppliers.
This in turn, make Retailer ponder upon two key questions:
- Whether to manufacture locally or purchase.
- If the decision is to purchase, then whether to purchase locally or centrally.
A robust Retail ERP must have the flexibility which will enable the Retailer to integrate the Supply Chain with the Manufacturing. Retail ERP should also be able to provide flexibility to purchase and manage its merchandise locally or centrally. Ginesys Retail ERP provides this flexibility to the Retailer so that one can practice whichever way is suitable. With Ginesys, a Retailer can integrate its Manufacturing with its Supply chain and Planning.
You can read the full study at the link below:
Want to know more about Ginesys Purchase Module? Click on the link below
A flexible procurement system is essential in inventory management.
Many times a merchandiser creates a production order, job order or purchase order for item X but receives a shipment of Y instead. The two can be totally distinct or can be variations in terms of style (half instead of full), colour (pink instead of blue), or size (M instead of L) etc.
Usually you would have to cancel the order and create a new one losing vital information and having to redo lots of steps.
This can be saved by using a new feature of receiving an alternative
item. This allows the order to be modified to change the item and then the pricing and other details flow according to the received item and not according to original order.
This can be a huge time-saver especially in production where it is
usual to receive some variation of the job being asked for.
Despite the recent government stay on allowing FDI in multi-brand retail this sector is still going strong with many local players reaping the benefits. This segment of retail has the most complex of challenges when it comes to dealing with inventory management as they need a variety of suppliers and usually deal in a variety of goods including apparel, footwear, toys, cosmetics, homeware etc.
Maintaining a huge inventory master and dealing with replenishment and store planning (for multi-store chains) becomes a huge headache typically resulting in dead stock.Also buying and managing the procure-to-pay cycle is very complex without automation.
Ginesys automates all these aspects. We are thus privileged to be able to help the likes of:
- CnM (Chunmun) (Delhi)
- Rw (Ritu Wears)(Delhi)
- StanMax (StandardMax) (Delhi)
- Sona Family Store (JCD) (Delhi)
- Goyalsons (Delhi)
- Sandhya Garments (Dwarka)
- Ram Garments (Jalandhar)
- Jaysons Megamart (Ludhiana)
- Pakiza (Indore)
- Paul Garments (Delhi)
- Gitanjali Lifestyle (Mumbai)
- R S Brothers (Hyderabad)
- Chandana Brothers (Hyderabad)
- Ethnicity (Ahmedabad)
- Kalamandir (Hyderabad)
- Sumangal (Kolkata)
- Mohan Family Store (Asansol)
- Hy-style (Chennai)
- Veeras (Chennai)
- Aaliyaah (Chennai)
Getting the right product at the right place at the right time is the major goal in running any retail chain. Through forecasting retailers try to get the product mix right at their stores through seasons. But once a product starts to sell at a steady rate it is an unnecessary headache to organize refills. This is the problem that we have solved through replenishment or more accurately auto-replenishment, which is now possible with Ginesys.
Once you have decided your minimum stock level and reorder quantity for the core stock items at critical locations, the system shall automatically raise a requisition for the stock from the warehouse whenever in-store stock plus inbound stock is below the minimum
Ginesys takes this a step further: if the stock is falling low at the warehouse too then a required purchase orders report can be generated as well. This takes into consideration in-hand as well as in-transit (inbound – outbound) as well as requisitioned stock. On the basis of this accurate purchase orders can be raised.
This concept is the similar to open-to-buy found in other systems. So go ahead and think of the right product the other things will be taken care of.