Do you find it hard to manage your dynamic inventory?
Do you want to streamline your order management?
Are you looking for a highly customizable platform to manage your supply chain?
The Retail merchandise management system is the most cost-effective, robust, and reliable ERP solution in the retail industry. The software is installed in hundreds of retailers worldwide and runs on IBM’s scalable, secure iSeries platform (IBMi/AS400).
The Retail MMS merchandise management systems allow companies to operate with minimal IT staff and offer integrated operating systems and databases.
The software has integrated modules that support the industry best practices of an omnichannel retailer and ensure effective merchandise management results.
That’s not it.
Retail merchandise management system is a complete packaged platform to transform your existing business workflow and management.
A platform with such abilities will take you more than a few lines to understand its complete ins and outs.
So, without further ado, let’s get started.
What is the Retail Merchandise Management System?
Retail’s merchandise management system enables retailers to respond to changes in different sales channels and sudden shifts in the market. It helps businesses meet consumer expectations consistently and access valuable insights from real-time inventory visibility.
Retailers use the merchandise management system to increase sales, improve profits, and ensure operational efficiency and accuracy.
The effective capabilities of the MMS merchandise management systems include inventory control and procurement, cost, promotions, customer orders, allocation and replenishment, and management of vendors, warehouses, and more.
The Retail merchandise management system is a widely used comprehensive omnichannel solution with built-in functionalities. It can help you simulate pricing strategies to make the right pricing decisions before implementation.
Here are a few Retail merchandise management system capabilities
- Receiving
- Allocation
- Replenishment
- Inventory control
- Procurement
- Vendor Management
- Price, cost, and promotion management
- Financial management
- Customer order management
- Warehouse management
- Supports soft lines and hardlines
- Supports multiple tax codes, currencies, and languages
If we boil it down, the goal of Retail merchandising is to help customers optimize supply chain efficiency, increase revenue, and improve business costs. With the evolving marketplace and customers, Retail support addresses planning, delivery, and collaboration.
The Retail software is compatible with the secure iSeries platform (IBMi/AS400) and offers great benefits to ensure your business achieves the desired business outcomes with finesse.
Benefits of Retail MMS Supply Chain Management
Retail MMS’s supply chain management solutions greatly benefit merchandising businesses and ensure you streamline your supply chain. We have filtered the top benefits offered by MMS supply chain management.
Seamless order management
The Retail MMS Supply Chain Management solutions help deliver a seamless online and in-store experience. It offers features like click-to-deliver/collect, order promising, order management, unifying inventory, and Omni-fulfilment to ensure you deliver the right product at the right time.
You can use modern supply chain management solutions to accelerate the process of product allocation and ensure you keep up with customer requirements.
The products can be allocated to remote enterprise locations to minimize the hassle and achieve maximum order management efficiency.
Connected customer experiences
Through modern Retail MMS technology, retailers like you can transform business operations and deliver high performance to ensure a quality customer experience.
It can be overwhelming for you to cope with the customers and fulfill their demands on time in the traditional ecosystem. It can increase the risk of losing your customers and decrease your profitability. Integrating an advanced technology like Retail MMS can accelerate the overall process and ensure you unlock the true business potential.
You can connect your processes, data, and people with the professional end-to-end supply chain platform. The software can be integrated into different corners of the business, enabling you to make informed decisions, deliver best-in-class customer experiences, and achieve end-to-end visibility.
The state-of-art features and powerful security encryption, Retail MMS removes the risk of delays in the process and ensures your retail business is connected with the customers on all occasions.
End-to-end inventory orchestration
Implement a competitive advantage by actively navigating supply chain disruptions. The Retail MMS enables you to analyze and react to potential spikes in demand prescriptively. It can also ensure availability and reduce waste with full visibility of the entire end-to-end supply chain.
You can optimize your supply chain ecosystem and improve your overall results for a better business presence in the industry. You can also utilize the Retail cloud and modernize the facility.
You can migrate your setup to the hybrid cloud without disrupting the existing infrastructure. The Retail merchandising solutions leverage automation capabilities and boost the overall process of inventory management and product distribution.
Autonomous, predictive logistics
Retail merchandise management system provides end-to-end planning to the execution platform, providing flexible, fully autonomous distribution networks.
It helps organizations recognize problems before they cause trouble to the smooth supply chain ecosystem. You can get automated AL/ML-based recommendations for action to lower the risk and avoid supply chain disruptions for better business outcomes.
The software can also help you leverage the organizational data and ensure you get the best-personalized customer experience. Retail MMS software can provide automated data updates and real-time insights to manage your inventory professionally and optimally.
Using these benefits, you can create an effective supply chain irrespective of the external industry scenarios. A strong in-house ecosystem ensures you achieve the desired business outcomes with finesse and scale your business to new heights.
Retail MMS Can Create Supply Chain in a Down Economy
The Retail software ensures you create a powerful business ecosystem to bypass the business troubles that can hinder your supply chain.
Here’s how the Retail merchandising management system helps you create a supply chain in a down economy.
1. Understand your customers
Multiple retailers know their customers’ demographics, purchase history, and policies. But these factors don’t work during a down economy. You must ensure your customers’ problems and challenges, the cost to serve each customer, or the quantity or mix of products they’ll buy today.
These questions can be answered only if you mix technology and human interaction. Many retailers have special account teams to understand the customer’s objectives, needs, and other requirements.
But they skip understanding the wider target audience. They don’t know what is selling today in different stores and don’t adapt to the changes in different sales channels and sudden shifts in the market.
A powerful merchandise management system can help you know the demand signals and the mix of quantity and products sold in different stores or regions. It can link the point of sale and in-store inventory information to demand replenishment networks.
A better understanding of the supply chain and the customers’ demands, and problems can assist your retail business in strengthening its in-house operations and tackling external market changes.
2. Managing workforce but not compromising the business operations
With the increased business scale and growth, you can gain a larger workforce to maintain your supply chain and handle different aspects of your retail business operations. But economic downturns can shrink the profits that can force you to shred your workforce and retain the quality and best-performing resources.
But the right way to shred is to start with customer demand signals. Follow the demand signal up through the demand chain to manufacturing and suppliers, then down through distribution to the customer or the store shelf. Examine each point along this journey to see what adds value and what doesn’t. Cut everything that does not add value. That is the principle of lean supply chains.
Using Retail MMS software, you can make data-driven decisions to optimize your supply chain and retain the value providers in your supply chain management process.
You can leverage the wide range of merchandise management system capabilities to ensure you handle the economic downturn with finesse and deliver high-performance results to your customers.
3. Boost your productivity
You should focus on improving your business productivity rather than solely on cost-cutting. Cutting heads can reduce the working heads, but it also cuts customer service, which derails the customer experience.
Go from survival mode during the economic downturn to competitive advantage by empowering your workforce through a performance-focused culture.
Integrating Retail merchandising technology into your business ecosystem can help you deliver excellent performance in hyper-converged infrastructure. Train your employees to utilize the powers of the effective Retail software, boost business outcomes, and scale your retail business to new heights.
It can help you fulfill customer requirements and accelerate your overall business operations to unlock new business potential.
4. Real-time data insights
Companies are making business decisions based on typically old and incomplete reports. Management needs real-time access to accurate, meaningful information to make good decisions.
Retail MMS can provide real-time organizational information to ensure you improve your decision-making and bypass the rough patch because of the economic breakdown in the industry. You can also make comparative pricing estimations to reprice your products, revisit pricing strategies, and plan future strategies.
5. Product return management
Managing a product return during a down economy must be effective to ensure minimal losses and maximum efficiency. Different omnichannel retailers find it difficult to handle product returns because of a lack of visibility and costly business operations.
The ineffectiveness of handling the product returns results in indefinite storage of the products in the store locations, adds up in the waste products, increases the business losses, and eats up the extra warehousing space.
Instead of including the products in the mainstream inventory and making them available on the selling charts, returned products are unnecessarily kept to have high opportunity losses.
The Retail MMS can be configured to issue and send alerts to the warehouse management system when expected product returns. It can improve the quality of product management and ensure you increase the efficiency of your business operations.
The warehouse management system includes adding the returned products into the mainstream inventory to increase the margins and lower the losses for better business outcomes.
6. Warehouse management
Increasing the efficiency of your warehouse during a down economy is highly significant for running a retail business. Implementing Retail MMS can help you plan, manage, and track warehouse merchandise storage.
The software solution can optimize inventory management movement from and to the warehouse and between channels to increase the efficiency of warehouse operations.
You can also replenish your inventory based on customer demand and purchase the product to increase the effectiveness of your retail business. Also, inventory status can be monitored in real-time to drive forecasts and assess buyer performance with Retail system implementation.
Using these effective results, you can create a strong supply chain using Retail MMS to ensure you stand out and deliver the best operational results for a great customer experience.
What Can We Offer in Retail Software Solutions/Consulting?
We at Integrative Systems are renowned Retail service providers with a team of certified experts highly specialized in implementing, integrating, upgrading, and managing Retail solutions.
Our 20+ years of experience and knowledge in handling Retail MMS solutions for businesses enable us to deliver quality results and add potential to our clients. We can help you remain on top and increase the business results to achieve new heights.
We offer Retail MMS services like 24/7 support, version upgrades, system modification and enhancement, system integration, QA/QC testing, hardware, and software needs assessment, etc.
We understand how to leverage the Retail system to help you improve operational effectiveness, increase profit margins, and increase sales. You can also gain vendor management capabilities, powerful replenishment, and allocation processes, and enhanced customer order management.
Implementing Retail MMS solutions has broad benefits that span different business functions. You can ask us to integrate all functions, like inventory control, promotions management, price and cost management, and financial management.
We can also help you make enhancements and modifications to their MMS environment. Either implementing the MMS solution or integrating the solution in the existing portfolio, we can handle all relevant modules of the solution.
Communicate your problems and desires with our team by email at [email protected]. We would be glad to handle your Retail MMS software solution management.
