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As a retailer, are you prepared for the challenge? Assess how competitive your company is

As a retailer, are you prepared for the challenge?
Go through this quick quiz and discover how competitive your company is!
  1. How difficult is it for your business to launch new products and campaigns?
  2. Would you say that your business is sufficiently agile when it comes to opening new stores, rolling out new store technologies, training personnel?
  3. Rate how well you currently offer a seamless shopping experience to your clients across all sales channels.
    • A-Yes, these processes are profitable.
    • B-No, these processes are not profitable.
    • C – The business currently does not support these processes.
      Looking at your omnichannel capabilities, would you say your click & collect and click & return processes are profitable?*
  4. Can you identify your clients at the point of sale and know their level of customer satisfaction?
  5. Do your store associates have the necessary tools to offer a good assisted sale?
  6. Would you say that you spend too much time on routine operations such as opening and closing checkouts, changing shifts, managing cash, etc?
  7. Would you say that your in-store replenishment processes are sufficiently well optimized?*Consider factors such as the speed of goods reception, your ability to optimize stock levels, correct errors, and so on.
  8. Do you have mechanisms to prevent internal fraud in your stores?These could include the ability to rapidly detect discrepancies in cash in the tills, additional checks on sensitive operations such as refunds, etc.
  9. Can you easily analyze key performance indicators such as product turnover, the profitability of the sales channels, or the Lifetime Value (LTV) of your customers by segment?*
  10. Considering all the information that you have supplied above, how well prepared would you say your business is to compete in the marketplace in comparison to your competitors?*

INFOGRAPHIC – 8 WAYS TO MOLD ERP AROUND YOUR BUSINESS (NOT THE OTHER WAY AROUND)

In today’s world of fast changing markets, complex supply chain relationships and multi-channel distribution, it is essential that the business keep pace with their ever-changing world and their ERP solutions should remain aligned. There are now modern alternatives to these legacy ERP solutions that are much better aligned with dynamic markets and agile businesses.

We suggest there are 5 important questions a company should consider before moving forward with its next enterprise application project. If a company has answered yes to most of these questions, then it has already been experiencing the limitations of legacy ERP and the impact to its business agility. These solutions typically take years to deploy, are late, over budget and often rejected by users. For companies that have seen this first hand, they will benefit greatly from a platform designed from the ground up to adapt to their current and future business needs.

We have put together an infographic to better illustrate this new reality of business and how a flexible ERP could be molded to it (and not the other way around).