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5 Things Your Competitors Can Teach You about Retail ERP Software

October 16th, 2015 Chelsea Cole No comments

We all know competition is a fact of life. One of the biggest aspects of running a successful business is knowing what your competitors are up to. As a company it is important to try to stay one step ahead. In order to compete with a greater impact businesses should be looking to the best and newest forms of technology. Unfortunately, due to hesitancy, competitors can often times get ahead of the game. Read on to learn 5 things your competitors can teach you about the benefits of Retail ERP Software. (And want proof? Read the successes that retailers have experienced firsthand from Microsoft Dynamics AX for Retail here: http://bit.ly/1G7Z4SN).

1. Time Management is Crucial

When it comes to competing with other businesses, the sure fire way to rise to the top of the heap is by saving time. Time and accuracy are the main attributes that contribute to efficient business practices. No company wants to be spending their time manually entering information, often times on multiple different systems. This can lead to frustration and annoyance. Not only does this waste time, it can lead to inconsistencies and inefficiencies in decision making and planning. An ERP software can solve this issue by providing a single, unified view of all business information. With an ERP system like Microsoft Dynamics AX for Retailers your competitors are avoiding redundant data entry and manual tasks. Reduce manual data entry and other tedious tasks and make a difference in company growth by investing in a Microsoft ERP solution.

Reduce manual tasks by introducing a completely connected ERP system that covers all areas of retail.

Figure 1. Reduce manual tasks by introducing a completely connected ERP system that covers all areas of retail.

2. How to Support Future Growth

Don’t fall so far behind that it becomes impossible to catch up with competitors. Watching other companies in your industry expand as their business easily grows larger and larger can be frustrating. With a Dynamics ERP system, smooth business growth becomes increasingly more efficient and feasible. Microsoft Dynamics AX for Retail enables managers to implement predictive analytics, which helps efficiently introduce new products and target new markets. If your company wants to grow globally it cannot operate on out of date or heavily modified systems. Instead, move faster with more confidence and allow your company to grow and expand with no headaches. Whether it’s transitioning from a mom and pop shop to brick and mortar, moving from a production based organization to a sales driven one, or simply expanding locations. Microsoft Dynamics AX can help you easily operate your business across geographies and locations with deployment options that are flexible enough to support new sales channels and keep up with a continually changing industry.

3. Visibility is Essential for Real Time Market Changes

What cannot be seen cannot be improved. Visibility is a key factor in guaranteeing a successful business practice. Only with full visibility into your company’s workings can a business react to real time market changes. Microsoft Dynamics AX allows for full visibility into business events that might not be entirely apparent, such as fulfillment rates and inventory movement. Making sure all aspects of business are completely transparent allows for faster and better decision making. Competitors are reacting to market changes in a timely manner making it important to adapt quickly to changing business requirements with POS add-ins and extensible headquarter software that can be tailored to meet specific retail needs. Achieve greater visibility and access information to ensure your organization is operating in the best way possible with Microsoft Dynamic AX for Retail.

Purpose-built POS components provide inventory visibility and efficient checkout processes.

Figure 2. Purpose-built POS components provide inventory visibility and efficient checkout processes.

4. Everything Starts with Inventory and Warehouse Management

When it comes to any type of retail business, the exterior cannot work without a smoothly functioning internal system. This starts with the warehouse and inventory. Inventory management is a critical component of a smooth operation. If the inventory is off than the whole system is off. ERP solutions help manage existing inventory as well as enables future products to integrate smoothly. The fulfillment and warehouse management systems in Dynamics AX provide a solution that is able to meet complex and unique requirements allowing you to manage the warehouse inventory, improve store replenishment cycle, and satisfy customers need at the fastest rate possible.

5. Create an Omni-Channel System for Optimal Success

There are so many building blocks that make up a successful business. In order to effectively compete in the market place there has to be clear communication and smooth flow between all channels. The more channels a customers has to choose from that better the business opportunity, and the more likely they will choose your business over a competitor’s. Dynamics ERP systems work to easily connect complex multi-channel systems. Microsoft Dynamics AX for Retail enhances the customer experience by providing the ability to the mix and match payment providers, leverage support for shopping carts, buy online and make returns to a physical store, and much more.

Microsoft Dynamics AX, built from the ground up, cohesively acts as the core to complex omni-channel retail businesses.

Figure 3. Microsoft Dynamics AX, built from the ground up, cohesively acts as the core to complex omni-channel retail businesses.

If you would like more information on Microsoft Dynamics AX for Retail, please email retail@ignify.com.

Chelsea Cole is a Proposal Writer at Ignify. Ignify is Worldwide Microsoft Partner in 2015, 2014, 2013, 2012, 2011, and 2010, and offers eCommerce, ERP, CRM, Order Management and POS solutions based on the Microsoft Dynamics line of products. Ignify has been included as the fastest growing businesses in North America for seven years in a row by Inc. Magazine and Deloitte in the FAST 500 from 2008 to 2013.