ERP for Retail Industry: How Smart Analytics Drive Better Buying, Pricing, and Merchandising Decisions
In retail, the quality of commercial decisions — which products to buy, in what quantities, at what prices, with what promotional investment — determines profitability more directly than almost any other management factor. A retail business that consistently makes better commercial decisions than its competitors will consistently outperform them in margin and in inventory efficiency, regardless of size or market position. The foundation of better commercial decisions is better data — and the integrated analytics capabilities of a purpose-built erp for retail industry platform provide the comprehensive, accurate, real-time data that transforms retail commercial decision-making from an art based on experience and intuition into a discipline grounded in evidence and insight. The Commercial Decision-Making Challenge Retail commercial decision-making is uniquely challenging because of the volume, variety, and velocity of the data involved. A retailer with one thousand SKUs across t...