Posts tagged wholesale

Importance of Distribution channel in retail


distribution_img1The wholesale distribution industry is transitioning to a more data-driven mindset, but there are widely different views on what that means. Many distributors say they don’t have the right analytic tools, technologies and talent needed to stay competitive in quickly shifting markets.

In the highly competitive retail sales businesses, getting the right goods, to the right stores, at the right time, and in the right amount is critical to the profitability of each store location and the Chain. Retailers, in order to be successful in this competitive market, should work towards maintaining an unhindered merchandise on the sales flow as one of the important functions of a distribution channel is to optimize your sales volume.

As a result, more traditional ERP systems have integrated analytics into their systems; more third-party analytics tools are also available, including CRM, business intelligence and data visualization tools.

Sales and Distribution (S&D) is the most flexible module in Ginesys and this is really needed as retail today needs to engage with multiple channels. Ginesys distribution model helps retailer to have multi-site multi-options which includes integration with internal/external POS system. It helps to track pipeline stock across supply chain including allocated and in-transit stocks. It benefits retailer in tracking for shortage / excess and transfer reconciliation.

For full details on Ginesys Distribution please click on the link below.

http://ginesys.in/solution/distribution/

AND Design India coveted among 16 unlisted fastest growing companies by Forbes India.


ANDAND Design one of our cherished clients has been ranked among the 16 unlisted fastest growing companies in India by Forbes.

AND is using Ginesys for their entire operations including inventory, production, accounts, wholesale, retail management and POS. As a retail solution provider to AND and its brands like Global Desi, we have seen its growth at close quarters and can vouch for its dynamic culture and commitment to quality which has helped it achieve this result.

Team Ginesys wishes it all the best.

Charge VAT Separately on Promo Items using Ginesys


A trend has begun recently, that retailers putting items on promotion at X% discount and adding back the VAT . This leads to complexity in billing of adding the tax separately on an item which was earlier on a tax inclusive basis.

In Ginesys now we have incorporated this aspect and we can mark during creation of promotion whether billing is to happen on a tax inclusive or on a exclusive basis.This will lead to the correct calculation.

Example:
MRP 500
VAT 5%
Discount: 30%
Price after disc: 350
Price to be paid: 350+ 17.5 = 367.5

This will work under all types of promotions like Flat Discount, Flat Price etc. Using this feature retailers can better protect their bottom-line even when putting up items on discount.

 

Use Credit Sales in Ginesys as a tool to grow


Credit sales now a days is a normal practice  in Designer wear and Jewelry Industry and sometimes in other businesses too. But many businesses cannot readily adopt this  as most ready retail software does not handle credit sales and advance tracking at all. Even if some software does then the implementation is not correct from an accounts point of view. This forces the retailer to go in for manual accounting.

Credit sales can be of two types.

1.Some part of the payment is paid immediately at Point of Purchase and remaining after some time.

2.Entire amount paid within some specified time after the purchase.

Ginesys has now come up with this option inside the software only with accounting implementation, where the retailer can easily handle any of the cases mentioned above. This will enable him to leverage on  credit sales to increase the top-line without any complex monitoring. So,with Ginesys, just forget about the complexity of credit sales and use it as a tool to grow even further.

 

 

Keep your margin net of VAT with Ginesys


One challenge that wholesalers have been facing is in retaining item profit margin. These days customers are asking for Net Margin including VAT payable i.e. their profit margin should be Net of VAT.

To assist with this, Ginesys has came up with the concept of  calculating the profit margin as net of VAT. Now the net profit margin will automatically calculated with respect to VAT percentage of the state of buyer. This will not only save lot of time but will also reduce the risk of human error as all the calculations are now being done by the system. So just put the VAT percentage in the field provided and net margin you want to give, system will do the rest for you.