Benefits of Real Time Data in the Modern Retail World
Foresight and planning are the two crucial keys for any business enterprise to keep sailing. It is only possible when companies have accurate sales data at all the distribution levels (Primary and secondary). A distribution marketing channel means dealing with multi-dealers, multi-distributors and multi-locations and multi-retailers. Sometimes channel conflicts relating to region, quantity and schemes may create confusion and tarnish the image of the brand.
You can have a control of primary sales but the benefits of primary level sales data are realized only when Secondary data is measured. Benefits of Secondary data tracking:
> Better Demand & Supply Forecast
> Improvised Supply Chain Management & Better Production Planning
> Accurate and real-time information on secondary sales order, billing, sales return, payment collection across the distribution channel
> Reduce inventory holding time [shelf life-cycle]
> Avoid Channel conflicts & Data misappropriation
> Avoid unexpected Product launch delays due to poor market analysis and forecast
> Measure Sales Performance of retailers & sales representatives
> Protect Brand value
Ginesys Retail ERP has the provision of tracking and controlling the secondary data and offers seamless visibility across channels and enables you to track sales force activity and gauze their individual performance, thus empowering you to take informed decisions on time, every time. It does this in two ways:
>By providing them with POS software through which they receive stock and sell stuff
>By allowing import of sales data from Excel which is not recorded in your organization’s sales.