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Today’s businesses are aware of how critical effective supply chain management is. Nonetheless, it is equally crucial to comprehend how outbound and inbound logistics procedures affect the supply chain as a whole. Your Logistics and Supply Chain Management play a huge role in how your inbound and outbound will turn out to be. Inbound logistics entails tasks like the delivery of goods and raw materials from suppliers to a business as well as the storage and transit of those materials. To prevent production line delays, coordinating transportation from many suppliers and ongoing communication are crucial. While outbound logistics concentrates on procedures necessary to transport finished items to final consumers. Some of the difficulties encountered when carrying out outbound logistics procedures include preparing cargo for tracking deliveries, distribution of goods, and enhancing routes for quick delivery. The effectiveness of the supply chain depends on the success of both outbound and inbound logistics. If handled manually, these operations can be laborious and complicated. Logistics and Supply Chain Management technology can be used in this situation. To effectively manage both inbound and outbound logistics and easily meet consumer expectations, modern logistics systems that combine AI, machine learning, and numerous algorithms have become essential. How Inbound Logistics and Outbound Logistics Different? The movement of raw materials into the company’s manufacturing facility from various suppliers is a part of the inbound logistics process. It may also involve managing inventories as well as tasks like locating raw materials and storing and delivering materials that will be used in the production process. The flow of the finished product from the company to its customers is referred to as outbound logistics. It comprises tasks related to packaging, shipping and delivery, and customer support. While outbound logistics concentrates on the interaction between the company and its clients, inbound logistics is more concerned with the relationship between the company and its suppliers. Outbound logistics is primarily focused on customer service and distribution of finished goods, whereas inbound logistics is more concerned with material management and production. Overall, inbound logistics have a direct effect on the company’s manufacturing processes. Since the final product depends on the raw materials that are used, it also affects the finished product that is offered to the clients. Any inefficiency in the incoming logistics processes would result in delays in the delivery of goods and a halt in production, increasing losses and resource waste for the company. The best way to deal with the delay is to engage a Logistics and Supply Chain Management software such as D365 Transport Management were the How to Optimize Your Inbound and Outbound Logistics? Businesses may now more easily improve their outbound and inbound logistics operations thanks to Logistics and Supply Chain Management technology such as ERP for Logistics and the variety of possibilities it provides. The objectives are to improve productivity, reduce costs, and make processes run more smoothly. The following strategies can be used to optimize inbound logistics: Encourage Logistics and Supply Chain Management Automation The procedure can be automated by choosing ERP for Transportation that tells the best delivery routes utilizing intelligent route optimization software that uses analytics, machine learning, dynamic routing, and GPS tracking to give you the best options. Monitoring inbound delivery fleets, product unloading, and in-plant activities can assist in increasing efficiency and saving the company a ton of time and money by following schedules. Using Logistics and Supply Chain Management Software A company can keep up with the market environment for freight costs and other dynamic aspects that can negatively impact inbound operations with the use of Software for Transport Company. Businesses can save a lot of money by keeping up with the dynamic changes in the logistics sector and by having an appropriate awareness about the going rates as opposed to only adhering to the prices given by various suppliers. Boosting Customer Experience Today’s customers want complete transparency of the transportation processes involved in their deliveries. Businesses may give their customers pertinent information and track the progress of their orders at every stage by streamlining the inbound logistics operations. An innovative, cutting-edge Logistics and Supply Chain Management software would enable the company to plan its production and ETAs properly, ensuring that there are no inconsistencies in their customer communications. Build Strategic Relationships with the Third-party Vendors To maintain effective logistics operations, it’s critical to develop strategic connections with ERP for Logistics Company providers, carriers, and suppliers. This can be accomplished by evaluating each company’s performance concerning important factors including on-time, complete deliveries, pricing schemes, the number of goods, business requirements, and other shipping activities. Businesses may keep track of these elements, identify which third-party providers are having what effects on their operations, and negotiate shipping rates using sophisticated logistics management software. Enhance Communication Effective communication techniques must be implemented since outbound logistics procedures include numerous stakeholders to guarantee that the movement of products proceeds as planned. Constant communication with delivery drivers and warehouse management enables quicker decision-making and explains any ambiguities along the way. Logistics and Supply Chain Management systems also enable companies to track the locations of delivery vehicles and improve routes, ensuring greater transparency. Logistics is one of the heaviest and most impactful assets a company has. They keep the supply chain flowing. Disruptions in logistics can cause delivery delays, unhappy customers, and an overall slowdown of a business. To prevent this, businesses must employ Logistics and Supply Chain Management software like Dynamics 365 for Finance and Operations. If you are looking to get TMS Software, Contact Trident. We are a D365 Gold Implementation Partner and LS Retail Diamond Partner.
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One of the main problems facing the hospitality sector right now is high staff turnover. The National Restaurant Association’s most recent State of the Restaurant Industry Report found that 78% of restaurant owners claimed they didn’t have enough workers to meet customer demand and 75% indicated they were more than 10% understaffed. In addition to lowering the restaurant’s average level of service, a high staff turnover rate increases the costs associated with finding, hiring, and training new workers. Although there are many other factors contributing to this issue, including a high proportion of students employed in the sector and high levels of seasonality, it is also true that many business owners in the sector might be doing more to retain talent. There are many ways to retain your staff. The most basic thing you can do is employ an agile Restaurant Application. Hospitality Management Software like LS Retail Restaurant Management System provides a unified platform consisting of robust tools and centralized data. It impacts the productivity of your staff and adds to the smoothness of your operations. Here are five suggestions to assist you in keeping your restaurant’s personnel motivated to work there. 5 Ways to Keep Your Staff Happy Teamwork Plays an important role in maintaining a healthy flow of operations in a business environment. Given below are some tips to keep your staff happy and motivated. Built Team Spirit from Top to Bottom Having a team spirit is very important to avoid unnecessary mistakes, bottlenecks, and disputes. If your staff doesn’t feel happy with where they are right now, they will probably switch to a better environment. There are a lot of steps you can take to improve the situation like organizing a team spirit day where your staff plays fun games, enhancing team spirit, and most importantly, getting to know each other better. Or you can organize a trip for everyone to do some activities together. Or celebrate a milestone achieved by the employees. You can either throw a party or at least cut a cake to cherish their success. Before adding a new dish to the menu, you can ask them to taste it first and ask for their opinion about the same. There are many ways you can boost their team spirit. Reinforce Employees with Modern Restaurant Application If you believe that not upgrading the outdated Restaurant Application will save you money, you are gravely mistaken. Nothing is more annoying than trying to do a task quickly and to a high standard while using broken instruments. An antiquated point-of-sale system that gets stuck or creates tickets slowly may reduce table turns while also irritating guests who are in a rush. An ancient fryer that the kitchen crew can’t rely on may wreck the lunch rush. Invest money in the newest Point of Sale System and constantly check with your employees to see if any of the tools they are using, both in the front and in the back of the house, are insufficient or outdated. Just keep in mind that any money you spend on a Restaurant Application to assist your staff—such as a Restaurant POS System that can swiftly take orders at the table—should be considered an investment in enhancing the quality of your customer service. Appreciate them for a good job Studies have shown that people are more driven at work when they feel valued and appreciated. Teams with the highest levels of engagement experienced 59% less turnover, according to a recent survey from an organization that has earned the Great Place to Work certification. Constructive feedback makes employees happier, more motivated, and more willing to put in the extra effort. Many workers genuinely believe that having a sense of value at work is more effective than getting money! You can also save their progress in your Restaurant Application where you can even manage their talent and assign them jobs as per their interests. Furthermore, there are numerous ways to express your appreciation to your staff: Consistently express your appreciation to your team for a job well done, such as when a hectic shift has gone very well, when sales targets have been met, or when a worker has handled a challenging issue with professionalism. Thanks are important. Has a waiter agreed to a last-minute shift change to meet the demands of your company? Did anyone forgo a break to assist in the rush? Be sure to recognize their effort and express your gratitude for going above and above. Give them room and time to unwind. Establish a break room with a coffee maker, complimentary light snacks, and a water dispenser so that your team can recharge and rest before heading back to work. This will make them more motivated and at ease. Provide Ongoing Training Make sure to instruct new employees on your company’s values, rules, and policies. There should be no end to the training. Even though the onboarding process is crucial, you shouldn’t let your employees’ education end there. Give your employees access to professional development opportunities; they’ll feel appreciated as part of the team, understand that you care about their development, and, as a bonus, they’ll bring new skills to your company. Nine out of ten restaurant managers, according to NRA data, began their careers as entry-level employees; therefore, investing in the professional development of your staff is an investment in the long-term success of your company. Furthermore, training is even more important for existing employees if there is a new update in your Restaurant Application. Thus, keep them updated with the latest technology. Allow Your Staff to Officially Communicate Via a Common Channel Professional boundaries and morale can be easily destroyed by unclear communication and misconceptions. Why does he constantly get overtime assignments? I requested a vacation two weeks in advance, so why did she get time off when she only requested it yesterday? By putting in place systems that allow for direct, open communication between staff and management, you can reduce the likelihood of complaints
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Restaurant Businesses are thriving around the world. However, only a certain percentage of them make it to the top. Have you wondered why? What different do they do to reach that level? How did a once-newborn business reach the pinnacle? Of course, the quality of food matters, but is that it? Is it enough for a restaurant to touch the sky? No. Their strategies, Restaurant Management Software, business environment, the attitude of staff, etc. are all that make a difference. The hospitality industry has been among us for several decades and is expected to stick around and grow. Therefore, there are exponential opportunities for a restaurant to grow. You just need to know where you are lacking and what these top 10% of restaurants do that you don’t. Study their journey and implement whatever you can in your business. This blog is all about the top 5 factors you underlook but can boost your business and make you one of the top 10% of restaurants making the most money. Get a Suitable Restaurant Management Software This is the most obvious and basic thing that successful businesses do but many businesses overlook it. To save a few bucks, several restaurants choose to work in silos which adds to their complexities instead. They do not realize how much of their potential is at stake if they work on disparate systems instead of Restaurant Management Software. It is recommended to choose a unified Restaurant Application that provides all the basic and advanced necessities on the same platform. Make sure your Hospitality Management System uses the same data center, so you don’t spend hours finding the relevant data. A unified system can do wonders for your business. Restaurants such as Hard Rock Cafe, KFC, Haldiram’s, Tokyo Sushi, etc. use a unified Restaurant Management Software called LS Retail, an extension to Microsoft Dynamics 365. Investing in the Latest Technology Implementing the latest technology is one of the most common things the top ten percent of successful businesses always consider. Since they must manage many tasks while cutting costs, they prefer automation. They installed a Restaurant Management System which updates automatically where no maintenance and upgrade is required by the team. Instead, everything is managed by a third-party service provider. For instance, KFC has implemented LS Retail which is a unified Restaurant Management Software providing a set of tools customized to target their needs. The upgrade and maintenance are managed by the implementation partner and the data security is taken care of by Microsoft Itself. Being hosted on Microsoft Cloud Azure, they do not have to worry about viruses, threats, and malware. Contactless ordering and Billing The contactless trend increased during COVID which encouraged contactless technology such as Point of Sale Software. Businesses such as Haldiram’s (with a net worth of $100 million) offer faster and more accurate services using this Restaurant Management Software. A POS is not just limited to taking orders and bills, but also managing their inventory, purchasing and supplier management, and managing customer loyalty. Many businesses don’t realize it, but it can help them in the long run, just like Haldiram’s. Getting Accurate Insights This is one of the most undervalued aspects of most businesses, but enterprises make full use of it. They rely on analytics tools such as Power BI, which collects customer interactions from all the touchpoints to turn them into actionable reports. These reports help them to make master strategies such as loyalty programs, deals, offers, coupons, changes in restaurant policies, etc. These insights also help in connecting with the customers emotionally; when you remind them what they ordered last time and how much they appreciated their feedback, the customer feels being cared for. This is when it becomes a great opportunity for restaurants to drive the most reliable promotion tactic i.e., word of mouth by their customer. Empowering Staff with Devices It is no shock that the hospitality industry faces the highest employee turnover rates. A successful business retains its staff and keeps them motivated. Giving them handheld devices connected with your Restaurant Management Software will save a lot of their time and keep them motivated. They can work to their full capacity and will have enough energy to greet each customer with enthusiasm. There is a reason why some restaurants make it to the top 10% and the rest don’t. They just don’t ignore the underlooked aspects of the business. They get the best technology in their reach, utilize their data, avoid silos, invest in the right Restaurant Management Software, and so on. Successful businesses such as KFC, Barbeque Nation, and GO Grill use Microsoft Restaurant ERP Software, which is also known as LS Retail. If you wish to implement LS Retail Software Solution, Contact Trident Information Systems, a Diamond LS Retail Partner and Gold D365 Partner.
5 Guaranteed Business Suggestions 90% Restaurants Underlook but the Top 10% Don’t Read More »
Online shopping is booming now. For a couple of years, when lockdowns were prevalent, people solely relied on online shopping, which as a result, made them succumb to the ease of it. If you, as a retailer, are still not on any eCommerce platform, you should consider getting into one. Due to this elevated trend, retailers are finding innovative ways to provide the best online shopping experience. Being entirely based on technology, you must employ suitable software. It would preferably be a Unified eCommerce Website Software. To stand out in the market, you must ensure the maximum comfort possible for your customers on your part. Provide exciting offers, deals, and discounts. Make them feel special. Show how much you care for them. Don’t let them hover around scrolling through irrelevant products. instead, suggest products they are most likely to purchase. Keep customers happy with a smooth online experience. This is only possible if you apply robust eCommerce Website Software. A solution that manages the entire process on the same platform because using different systems will only cause delays, and people these days are the most impatient. Our research team has found the top 9 hacks ensuring your customers get the best online shopping experience ever! #1 Make Sure Your Customers See the Relevant Products Only (an eCommerce Website Software can Help) Customers have the shortest span of patience now. Make sure they see relevant products fast. Don’t let them waste their time scrolling through things they may never buy. In this case, using Software for eCommerce Website helps. You can even encourage them to buy combination products (cross-selling). This is what Amazon does, it suggests shoppers a combination of products that go hand in hand at the bottom of the page. You can also create a separate section on the screen suggesting the best combinations people are frequently buying. This trend becomes even more prevalent during a sale. #2 Your Site Should Load Fast in Both Mobiles and Computers Nothing is worse than frustrated customers. Imagine them having every item at the best price in their cart. However, the site is filled with various glitches, and your customers often get stuck during the checkout. When your competitor’s website loads fast, and it takes double their time to shop on your site, you have an increased risk of losing customers to them. Employ a suitable eCommerce Website Software that hardly needs to be looked after, like LS Retail. It requires no-low maintenance, automatic updates itself, and no specific team of experts to take care of the software. This way, you can free your IT team, and engage them in developing a faster and better-quality website. #3 Show How Much You Value Your Customers Your customers would want to come back again-and-again to your site if you treat them like a king. Carefully observe their previous transactions and understand their patterns. See how they prefer to spend and what their habits are. Also, notice what they didn’t purchase, why so? and how to improve the situation. You can either engage your team to do it manually with some tools if you have a small client base. Those with a massive client base must deploy Business Intelligence Services. For example, LS Retail eCommerce Website Software supports a robust tool called Power BI, that collects historical data, scans it, understands customer’s actions, and provides insightful reports. You can use these reports to: Categorize Your Customers You can categorize them into levels, e.g., Bronze, Silver, Gold, and Platinum. Each of them should be entitled to certain services where they can get cashback, discounts, free shipping, etc. You can also flexibly change the services in each segment time-to-time, for example, suppose gold customers are entitled to 10% off on a tank top, seeing 20% off if they buy a tank top with a shirt and pant in the next month, will encourage them to purchase more. This will keep them excited about new upcoming offers. Furthermore, this will also encourage other customers to try getting into one of the categories and enjoy the benefits. Offer Reward Points You can also provide reward points to valuable customers and allow them in their next shopping. This will work as equivalent to a cashback for them. #4 Allow Them to Easily Contact You Nobody has enough time to google your contact details, Display your number at the center of your eCommerce site. Sometimes your customer service executives are way too busy to handle all the queries. So, you can also allow AI-based or human-based live chat options, or an amalgamation of both. Make sure you use an eCommerce Website Software that provides live chatbot options within the same platform. For example, LS Retail offers an AI-based live-chat-bot option, so your customers never go unattended at any time of the day. #5 Let Customers See if the Inventory is Available or Not If you are selling a tangible product, make sure your customers can see its availability in the early stages. There is nothing more frustrating than finally finding the right sized dress/ shoe and finding it backordered or having “the item is not eligible for delivery in your area” notification. Having an eCommerce Website Software managing everything on the same platform helps. #6 Use Color Psychology Carefully design the color scheme of your site. Many big brands use triggering color schemes in their eCommerce sites. For example, brands color the “check-out payment” button in green. Green usually signals “let’s do it” or “positive”. It also stands for the green signal in traffic lights. #7 Upload Good Quality Photos/ Videos with Thorough Descriptions Make sure your customers get the right vibe of the product they are about to purchase. Upload HD-quality pictures of the item. You must also include a video description of the product and directions to use it. In addition to it, ensure you give a thorough description of the product so the customers can get a fair picture of the item. #8 Connect all Your eCommerce Platforms Most online retailers these days don’t limit themselves to
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To run a successful restaurant business, it is critical for you to provide excellent services while cutting costs. In worst-case scenarios, your hard work can go for nothing when you are not supported by suitable technology. Having a suitable Restaurant Management System plays a critical role. Restaurant owners are inspired by seeing retailers making double profit with unified Restaurant Management Systems and hence decided to replace their loosely connected system with a platform providing all the business essentials at the same time. They are now witnessing tremendous benefits that come by. Having Hospitality ERP Software and connecting all systems under the same umbrella provides more convenience and accuracy while saving a ton of your time. Yet some of them are confused about whether they should consider a Restaurant Management System or not. We have compiled five reasons why you should get one as a restaurant owner: Ditch Those Disconnected, Error-Prone Processes with Restaurant Management System A few years ago, restaurants had to manage their operations with disparate systems which consisted of a separate billing software, a kitchen management system, vendor management, a reporting tool, business intelligence tools, and probably a few more restaurant management systems. No matter how advanced the system they would use, they still had to work on multiple systems which became prone to human errors. However, this is not the case anymore, as they can optimize a Hospitality Management System Software that consists of every restaurant management essential on the same platform. Since everything is managed by one system, the data is also collected and processed in the same way. Therefore, they no longer need to depend on different Hospitality Software to extract information. Get a Single Vision of Truth Your business would witness a difference if all the departments of your restaurant were able to access the same data across the business. With LS Retail ERP it is possible that all the data is collected, stored, and processed in the same system, hence guaranteeing its accuracy and credibility. You and your staff can access the same information at the same time without having to phone one another for a certain report. One fine example is Nik bakers, a cafe chain based in Northern India. They struggled a lot with accessing reliable data when needed due to their dependency on multiple systems. As soon as they switched their approach to a unified Restaurant Management System, they could see a difference. Enable Updated Information to Your Guests In various surveys, it has been noted that people agree to pay more for better services. This is especially important for an industry like Hospitality where customer experience is a priority. A unified Restaurant Management System ensures managing menus, prices, and offers centrally while synchronizing data at the same time. CRM in Hospitality Industry collects data from different touchpoints and provides an insightful report depicting where the services can get better, how the discount mechanism should improve while also helping create loyalty programs. This is an absolute platform for restaurant owners to know their customers and provide them with customized services. Hospitality ERP Software can ensure that customers feel welcome and heard. It allows connecting with your customers on an emotional level. Deal with Just One Vendor Having different systems is a pain and having to maintain them is a greater pain. You might have to contact different vendors in case more than one of your systems faces issues. However, this is not the case with a unified solution where everything is available on the same platform, and you only rely on the vendor. The service provider only is responsible for your system’s maintenance and updates. For instance, LS Retail Software Solution enables the latest updates twice a year while ensuring you work on the latest version. Do Not Spend Too Much Time on Staff Training The hospitality industry experiences the maximum staff turnover throughout the business and having to train inexperienced staff constantly is a very time-consuming affair. Imagine you are training inexperienced staff for different systems across the business. It will eventually become a painful process. However, you only have to train your employees once, even if they have to change shifts, they will still be able to manage in different sections. With LS Retail’s Restaurant Management System, you can unify every business aspect under the same umbrella. This CRM Software for Hospitality Industry eventually helps enhance communication among employees while streamlining business processes. For instance, orders are automatically sent from the POS to the printing stations or KDS (Kitchen Display System) (Kitchen Display System) in the kitchen, saving your front office employees enough time to welcome more customers. If you are looking for LS Central implementation, you may Contact Trident Information Systems. We are a Gold Microsoft Dynamics 365 Partner and LS Retail Diamond Partner.
How Does a Unified Platform Transform Your Restaurant Business? Read More »
Thanks to LS Retail Software Solution, various businesses have shifted their approach from choosing multiple software integration over a single commerce platform. Retailers, hospitality businesses, and restaurants in over 140 countries are overjoyed to use this platform and enjoy the benefits that come along. LS Central Software Solution is a retail management software that guarantees retail and hospitality management with its set of tools dedicated to providing visibility, transparency, and a single view of the entire business. However it is essential to find the most suitable Retail ERP Partner. With LS Central Software Solution, businesses are now equipped with technology that not only streamlines business but also reduces IT load and cuts costs significantly. For instance, a large ski resort in Canada used to have 26 distinct software solutions which needed to be updated and managed separately, causing too much load on its IT. They then decided to embrace LS Central, and now they can finally operate as a unified brand, track loyalty, run promotions and see their data. Eventually, the business became even more successful and competitive. Here are some of the ways to keep your business ahead of your competition. Omnichannel Integration With omnichannel integration, you can let your customers shop wherever and whenever they want. LS Central connects to market-leading platforms such as Magento, Shopify, and Dynamic Webs. This integration guarantees two-way communication between the systems. Hence letting your staff and customers get real-time and updated information on each product. Be it product availability, prices, and offers on your online shop, they can always have updated data. Additionally, LS Central tracks every sale you have made on a single platform, so you can even offer click and collect options so they can purchase online and collect it at the store if they want. Contactless Options in Store Customers were demanding contactless services even before the pandemic hit. They were looking for mediums to make things even more convenient without having to contact store staff. By implementing self-service checkouts, you can ensure customers the autonomy they wish for while shopping in person while cutting the queues and saving time. ScanPayGo technologies minimize contacts even more. LS Central combines loyalty with the POS (point of sale) in the single app that can run on your customer’s device. Being a One-stop-shop app, it lets customers shop, save lists, save money, apply coupons, check their loyalty score, and much more. Drive Employees to Deliver Exceptional Services LS Central enables a medium for employees to serve today’s well-informed customers. With mobile POS, your staff can look up the product details- Its availability, alternatives, warehouse details, and even data on special orders. They can easily compare the size, color, and other details on their phone. The key to obtaining loyalty is to build personalized services. At POS, employees can access their store’s loyal customer’s details, previous purchases, and preferences. They can even use LS Central’s AI-based abilities to make relevant recommendations and product suggestions. Innovate and Go Beyond Industry Barriers Customers are attracted to services that stand out in the crowd. Offer services that differ from your customers. You can use this LS Retail Software Solution, to run food service, retail, and hospitality within the same platform. For instance, if you operate a mixed business like a garden center with a cafe, you can manage different segments within the same platform i.e., LS Central. You can easily align customers, offers, sales, food service, and a lot more within the same database. Furthermore, if you decide to expand and offer appointments with a garden designer, you can as well do it with LS Central’s robust LS Activity add-on. Clear Visibility and Data-Informed Decisions You can get a real-time view of your business with LS Central Software Solution. We recognize that data cannot help you make effective decisions. Thus, it offers intelligent functionality to make it easier for you to make relevant decisions. For instance, one of its AI-powered add-ons called LS insight addresses KPIs that need the most attention. It delivers all the information that is more important for your business to grow. Overstocking and understocking are some of the key issues businesses come across. With LS Retail Software Solution, you may get real-time visibility on your stocks and make more accurate, faster, and smarter decisions LS Central is one of the leading unified commerce solution providers out in the market. Trident Information Systems is the best Retail ERP Partner, and is reinforced with 150+ technical professionals. If you are looking for an implementation partner, you can contact us.
How LS Central Transforms Retail? Read More »
According to Grant Thorton, e-commerce in India is expected to be worth US$ 188 billion by 2025. Despite having e-commerce contributing to a large part of our economy, there are still masses who prefer to purchase products offline in India. Many seek assistance of ERP Software for Retail from suitable Retail ERP Partner. According to the Economic Times, Nykaa has decided to triple store count in retail expansion. It operates as an e-commerce platform selling everything from global cosmetic brands to jewelry. However, Indian consumers still want to purchase products offline. Certain issues come along with offline stores. Customers might visit the shop and find the item they want missing. Managing an offline establishment requires more labor. Standing in long queues can infuriate customers. Digital disruptions might hamper operations. Inability to meet evolving customer expectations. Poor internal communication. Brick and Mortar stores need a lot more labor than e-commerce. Therefore, rapidly expanding businesses need to seek technological assistance. It is recommended to implement a ERP Software for Retail Like LS Retail. It offers a suite of all the tools required to run a retail business. Integrating everything under the same platform boosts synchronicities and a smoother business flow. For instance, integrating your website with CRM (Customer Relationship Manager) can help you understand trends better. Allow Customers to Check Product Availability Online Consumers are drawn where convenience is more prominent. Just imagine how frustrated a consumer can get if he drives all the way to a shop and finds the essentials he wants missing? It is important to enabling product information and availability online, so your customers save themselves time and labor. Additionally, retailers may integrate all touchpoints and allow customers to place orders online while collecting the item right on their way. Enable Contactless Payments Allow your consumers various payment options like debit, credit, mobile payments, and so on. Enable quicker and easy payment options to shorten queues while making cash handling the lead of their concern while checking out. And such transactions are even safer. Retailers may also enable self-check-out services at the counter and help themselves while freeing store staff. This way customers unburden the staff allowing them to focus on other activities like helping other consumers find a product or guiding them through product instructions or simply greeting them at the entrance. Personalized Services for Customers Track each transaction with customers, understand their spending pattern, and create customized services for them. You will need AI-based technology like the one LS Retail ERP Software for Retail offers to extract data from different touchpoints and generate comprehensive and actionable reports. This data is essential for creating personalized offers, deals, and promotions while making it one of the best ways to penetrate customers’ emotions. Delighted customers refer businesses or products to their friends, families, and acquaintances thus driving a robust referral promotion. Word of mouth is the most effective and cost-efficient promotion method; studies have shown that a person is most likely to purchase a product referred to by someone known rather than following an advertisement. Enable product Information on handhelds Enabling product information on handheld devices empowers store staff and extracts all their efficiency. They can locate each item anywhere in the store without having to hunt for it. They can organize item placements according to demand, size, and other features. Targeting and discarding expired products becomes a piece of cake. Since the staff is less burdened, they can shift their focus on other prominent tasks such as helping customers out, organizing inventory, and other manual tasks. Avoid Overstocking / Understocking Having an integrated system that offers a 360-degree view on inventory in the shape of insightful reports. With ERP Software for Retailers, you can track each item, its durability and easily discard the expired products. Additionally, they may also predict demands and make purchases accordingly. These insights can work wonders for inventory planning. Adopt a Unified Communication Platform One thing that bothers them most in multi-chain businesses is communication. LS Retail, ERP Software for Retailers ensures a unified platform that connects all the departments in an organization, such as sales, marketing, and IT, etc. Allowing your employees free flow of communication is not only time-consuming and labor efficient but also saves a lot of confusion in an organization. Since the competition in the retail industry is cutthroat, retailers have to find a solution that covers all their business needs while optimizing their resources. LS Retail is one of the most prominent B2B ERP Software for Retail having eligible implementation partners such as Trident Information Systems, the Gold Retail ERP Partner of LS Retail. Contact us for further information.
Tips For Rapidly Expanding Brick and Mortar Retail Businesses Read More »
Festive seasons bring great sales opportunities: every industry is packed with customers. Nevertheless, one industry that collects the most candies from the basket is retail. With ERP Software for the Retail industry, businesses are thriving in the market, if they are supported by the right Retail ERP Partner. Consumers shop extra, get drawn towards exciting deals, offers and promos. Businesses feel abundant and exploit as much profit as possible. However, the issue starts the post-festive season, when the surge in festive shopping ends, best-selling smartphone models go out of stock, and lower-than-expected wedding-related purchases off-take. According to Bizcom, a sales automation firm that transacts with 7.5 million retail stores, revealed that sales fell 14% in November 2021 for fast-moving consumer products. Industry executives quoted “sales of smartphones, television, refrigerators and washing machines fell 15-20% sequentially in November.” This crisis comes up every year. However, pandemics, travel restrictions, and other prohibitions made it even harder. Even though everything seems to be coming on track, retailers have to exploit the latent opportunities to stay ahead in the competition. They may implement a ERP Software for the Retail industry specifically designed to handle retail businesses while making their operations even more seamless and staying ahead of competitors. Forecast Demand and Stock-Up The first step is to forecast demands and order inventory accordingly: carefully research different items in demand and purchase inventory accordingly. On the other way around, you can also get an AI-based system extracting inputs and generating insightful and actionable reports. Organize inventory in-store according to the demand. Place the most demanded items in the most visible and accessible area. Having demand forecasted you may ditch items unworthy of investment. Figure Out the Right Offer for the Target Audience One of the most efficient ways to boost demand is to offer the right offer to the right audience segment. But how would you section your customers? First, divide your frequent and infrequent customers, then deliver exclusive deals and attractive offers designed especially for your loyal customers. You may create deals according to their shopping frequency and preferences. Integrate all the channels and extract customer data to get insights. A Unified AI-based technology can do this job perfectly. It attracts customer-related transactions and turns them into insightful reports. Make No Space for Long Queues Make sure you do not let your customers stand in long queues at the check-out counter. Enable more secure cashless payments to make the transactions quicker and keep the traffic smooth. Additionally, you may as well allow self-check-out ports and empower customers to make quick checkouts and leave the store soon. This way you can also free up the floor space and save other customers from feeling all congested. Adopt Retail POS Software like the one LS Retail offers to bust long queues. Quickly Give your Customers What they Want Customers are impatient and making them wait for their desired product/ service is a risky affair. Make sure they get what they want right away, connect all the touchpoints, and let them place orders from whatever platform they want. If they want to place an order while sitting in a metro while listening to the latest songs, so be it. Deliver their orders quickly or let them collect them from the store, the choice is theirs. As soon as they enter the store, make sure they do not struggle to find their item. Reinforce your staff with handheld devices containing product information, so they can quickly find the item and guide customers to the same. Encourage Referral Promotion Delighted customers might refer your business to others. A WOM (word of mouth) promotion is the most effective promotion. Encourage customers to share referrals with their friends. Enable social share buttons on your website, promote post-purchase messaging, feature referral programs on your home page, promote referrals on high traffic pages, and so on. Additionally, customers might even post your brand’s products on their social media and allow free promotion. Otherwise, you may also contact different influencers and pay them to sponsor your product to their audience. Businesses must combine innovation with technology and work with “Technovation” to thrive in this sales shortage. We recommend implementing ERP Software for the Retail industry. LS Retail is an ideal solution in this situation. If you are looking for an implementation partner, contact Trident, the Gold Partner of LS Retail.
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In the era of technology that amalgamates with the cut-throat competition among retailers, shoppers these days expect a blend of digital evolution with physical shops. This has impacted their mindsets as well. They have become even more impatient and expect stores to complement the same. ERP Software for Retailers like LS Retail can help shop owners comply with the dynamics. It is one of the best ERP Software for Retail. Retailers these days are also burning their candles at both ends to not only meet their customers’ current expectations but to provide even better services and beat their competitors. Proving contactless payment options, self-check-out, and much more are some of the initiatives retail businesses take to boost the customer satisfaction level. Retail Businesses prefer to integrate their front-office to the back while integrating every operation on a single platform. This helps them avoid multiple integration complexities as well as issues such as: Information duplicity Lack of coordination Managers are unaware of immediate initiatives to be taken Risk of losing important data Wastage of resources Over-stocking/ under-stocking Blend Physical with Digital This blend transforms how you see your business. You can explore aspects you never knew, ever existed. Operations become more streamlined and ensure maximum employee optimization. An ERP Software for Retailers like LS Retail can help you blend digital innovations into the physical store. Integrate Back-Office and The Front Office Even if your front-end and the back end in silos are the strongest, still finding ways to streamline these two cohesive units into the one is a whole new ball game. The data held by each section can be critical for the other. Just imagine how easy operations would become if you integrated your website data to your CRM (Customer Relationship Manager) and then to your billing or invoicing system. It will put an end to complications caused by data duplication. If integrated properly, it can create a bi-directional interface that supports your current customers as-well-as your future customers as well. Avoid Overstocking / Understocking with a 360 Degree View on Inventory With the right technology at service that can deliver a 360-degree view on inventory activities and forecast demands, the retailers are most likely to make smart inventory purchases. Insights on current trends and consumer buying patterns help businesses to stock up accordingly. For instance, during Durga Puja, some businesses in Kolkata could make a profit of 20-30% as they forecasted demands already, while other businesses that failed to forecast demands ran out of stock. Additionally, they can manage warehouses better with the data on most selling and underselling products. With these insights, retailers can negotiate with the vendors better. Track Each Customer and Offer Unique Deals Using AI-based technology can help you track every customer transaction and provide you with better insights into what customers are demanding individually or collectively. Retailers can create deals and offers accordingly. They can decide the best time to launch 50% off sales or customized coupons for individual customers. According to their habits and spending patterns, shoppers can be classified accordingly and offered exclusive deals on specific products they would prefer to buy the most. Make Your Staff Quicker, More Enthusiastic, and Efficient Having a staff that could work to their full efficiency without having to burden them is something several retail businesses are gradually adopting. Imagine how easy it would become for them if they could locate any product at the store in just one click, how much time they save while greeting customers with more enthusiasm. Apart from this, allowing the customers with self-checkout services again frees your staff from billing overloads. Having these technologies fills the efficiency gaps and boosts output. Streamline Communication Among Different Departments Since the time spent communicating through a chain of departments cuts down, businesses can save themselves plenty of time. With ERP Software for Retailers like the one LS Retail provides, retailers can get a single platform connecting different departments. A person for the sales department can contact the inventory manager to inform them about the current inventory requirements. It becomes easier to share ppts and feedback at the same time. Integrate All the Channels Under the Same Platform Shoppers demand more convenience in their shopping experience. In such a busy world, many customers are unable to make time to get into a store. Instead, they look for online alternatives for order placements, such as their website, applications, and third-party applications. They require the convenience of ordering their favorite shoes online while computing to their office or asking Alexa to order groceries while cleaning the living room. Integrating all the channels under the same platform allows enough space for sales to grow. Data Security and Business Continuity In any business, data plays a huge role in making critical decisions, let alone retail. Hence, data security is one of the major concerns for any organization, especially those working in silos, or on-premises. Losing and then the inability to lose financial or important customer data can ruin a business. Cloud-like Azure ensures data security, anti-theft features, and automatic and expandable backups. Azure backup services provide simple, cost-efficient, and security services to back up and recover data from the cloud. It has become a necessity to combine physical stores to offer better customer services while streamlining business operations. LS Retail is an ERP Software for Retail offering a suite of tools and functionalities covering every business aspect. If you are looking for an implementation partner, contact Trident. We are a Microsoft D365 and LS Retail Gold Implementation Partner with a capacity of 150+ technical resources. Contact us for further information.
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Trident Information Systems, is one of the leading global providers of Information Technology services and business solutions with over with a proven track record of over 24 years. We have been consistently adding value to the business bottom line of our global clientele.
