Retail Industry & Software Advantage in India

India retail industry is mix of roadside shop to the modern retail store contributing to a strong and consistent growth. In coming days, the penetration of the Modern retail is going to be double by growing at a rate of more than 20%. The major contributor to this growth will be:

  • Urbanization
  • Middle Class Income Growth
  • Attitudinal shift of Indian consumer
  • Modernization of local retailers

With sudden growth there are challenges which will come on this path of the growth. These challenges can be identified with the systematic analysis of the data generated by the retail management software. The new age retail management software is flexible when it comes to the functionality but supports a rigid control across the value chain. The challenges addressed by the new age retail software are:

  • Automation of the billing cycle
  • Automation of the price management, scheme management
  • Location control
  • Shelf life control for the perishable items
  • Inventory control across value chain from warehouse to the point of sales

These kind of operational challenges are supported very well by the Retail Management Software however apart from this, the data generated by these software helps in managerial decision support system. These systems pull data to represent the intelligence such as:

  • Cash flow analysis
  • Store wise profitability/expense analysis
  • Sales person wise performance
  • Counter wise optimization of the store layout etc

In order to implement the software for the retail management, you need not to be a large chain of retail stores. You need to have a vision to create a chain of stores. Once software is implemented, it will be a matter of hours to roll out another store. Expansions will be cake walk for you. So whether you are a large chain of restaurants, Single Brand Retail store, multi brand retail store or large warehouses: you should implement effective software which supports end to end value chain.

LS1 retail supported by Microsoft Dynamics NAV is one of the best software for retail management. You can contact marketing@prudencesoftech.com for any further details.

Advertisements