Softengine Knows Retail

SAP BUSINESS ONE STREAMLINES SYSTEMS WITHIN THE RETAIL INDUSTRY

Customer expectations for convenience and personalized experiences have fundamentally changed retail. It’s no longer just about selling at the lowest price, it’s about finding ways to create unique shopping experiences that attract new customers and keep loyal customers coming back. At the same time, you need to keep your finger on the pulse of trends and make sure you have the right inventory on hand to meet demand. Detailed below are 4 specific trends that we have observed as target trends in the Retail world: Customer Satisfaction, Consumer Trends, Digital Evolution, and Online Investment.
Customer expectations for convenience and personalized experiences have fundamentally changed retail. It’s no longer just about selling at the lowest price, it’s about finding ways to create unique shopping experiences that attract new customers and keep loyal customers coming back. At the same time, you need to keep your finger on the pulse of trends and make sure you have the right inventory on hand to meet demand. Detailed below are 4 specific trends that we have observed as target trends in the Retail world: Customer Satisfaction, Consumer Trends, Digital Evolution, and Online Investment.

Consumer Trends

Learn more about supply chain automation

Digital Evolution

Control order fulfillment & inventory management

Online Investment

Manage your Ecommerce under one Platform

Are You Ready for SAP Business One Implementation? Contact A Specialist Today!

I’m Ready

HOW DOES SAP BUSINESS ONE AUTOMATE SUPPLY CHAIN?

SAP Business One simplifies definition and management of production, assembly, sales, and template bills of materials (BOMs). You can store BOM numbers, descriptions, warehouses, and item compositions in easy steps, while recording per-item quantities, production issue methods, prices, and comments at each level. When you add a bill of materials to purchase, production, or sales orders, pricing and quantities are automatically recorded for both the product and its components. SAP Business One supports standard, special, and disassembly production orders. Bills of materials can easily be entered into production orders so that item availability, warehouse location, and issue method are automatically recorded. By storing a production due date, production scheduling can be managed using alerts management in SAP Business One.

HOW DOES SAP BUSINESS ONE AUTOMATE SUPPLY CHAIN?

SAP Business One simplifies definition and management of production, assembly, sales, and template bills of materials (BOMs). You can store BOM numbers, descriptions, warehouses, and item compositions in easy steps, while recording per-item quantities, production issue methods, prices, and comments at each level. When you add a bill of materials to purchase, production, or sales orders, pricing and quantities are automatically recorded for both the product and its components. SAP Business One supports standard, special, and disassembly production orders. Bills of materials can easily be entered into production orders so that item availability, warehouse location, and issue method are automatically recorded. By storing a production due date, production scheduling can be managed using alerts management in SAP Business One.

Digital Evolution

Technology and the internet are the common denominator when it comes to all the trends within the retail sector. Retailers will be able to better understand the requirements and demands of their customers, thus improve the customer experience, through analyzing data generated by technology and customer interaction. Therefore, retailers will be able to successfully build a strong and loyal following of long-term customers by creating identifiable brands that have more value than just price competition.

Despite the benefits of using technology to improve brand loyalty and the customer experience, there are some important things to consider, such as data protection and security of user’s sensitive data. Many big companies have already felt the pain of data breaches, resulting in large fines by regulators and damage to their brand image. Retailers must take data regulations, such as the California Consumer Protection Act and the General Data Protection Regulation, very seriously in order to prevent data breaches that can result in loss of confidence in the brand.

In the long term, new technologies such as 5G will be something for retailers to consider, as 5G technology will provide room to innovate and generate more opportunity. Data processing capabilities and bandwidth limits will be greatly increased with 5G, meaning better customer experiences using additional technology.

One example is the potential of augmented reality; consumers will be able to see a near unlimited number of products in virtual aisles, try on clothing in virtual fitting rooms and a whole lot more. Full adoption of 5G technology will take several years, even though the immediate benefits the technology provides is very clear.

DIGITAL EVOLUTION

Technology and the internet are the common denominator when it comes to all the trends within the retail sector. Retailers will be able to better understand the requirements and demands of their customers, thus improve the customer experience, through analyzing data generated by technology and customer interaction. Therefore, retailers will be able to successfully build a strong and loyal following of long-term customers by creating identifiable brands that have more value than just price competition.

Despite the benefits of using technology to improve brand loyalty and the customer experience, there are some important things to consider, such as data protection and security of user’s sensitive data. Many big companies have already felt the pain of data breaches, resulting in large fines by regulators and damage to their brand image. Retailers must take data regulations, such as the California Consumer Protection Act and the General Data Protection Regulation, very seriously in order to prevent data breaches that can result in loss of confidence in the brand.

In the long term, new technologies such as 5G will be something for retailers to consider, as 5G technology will provide room to innovate and generate more opportunity. Data processing capabilities and bandwidth limits will be greatly increased with 5G, meaning better customer experiences using additional technology.

One example is the potential of augmented reality; consumers will be able to see a near unlimited number of products in virtual aisles, try on clothing in virtual fitting rooms and a whole lot more. Full adoption of 5G technology will take several years, even though the immediate benefits the technology provides is very clear.

HOW DOES SAP BUSINESS ONE CONTROL ORDER FULFILLMENT & INVENTORY MANAGEMENT?

SAP Business One ERP system maintains full control over your order fulfillment and inventory management. In addition, SAP Business One should make the customer shopping experience as convenient and enjoyable as possible, with instant e-mail confirmation, timely shipping notification and access to their account information, when needed.

HOW DOES SAP BUSINESS ONE CONTROL ORDER FULFILLMENT & INVENTORY MANAGEMENT?

SAP Business One ERP system maintains full control over your order fulfillment and inventory management. In addition, SAP Business One should make the customer shopping experience as convenient and enjoyable as possible, with instant e-mail confirmation, timely shipping notification and access to their account information, when needed.

SAP BUSINESS ONE LICENSING CALCULATOR

Determine your SAP Business One cost for your business right now with our online pricing calculator

Online Investment

2020 will be a year where retailers are selective with their capital investments, brought on by global economic issues like trade wars, uncertainty in the stability of the global economy, and the high use of discounting and promotions in retail. This will force investors to look for other ways in which they can obtain value and generate more opportunities from businesses.

There will be less of an emphasis on growth through traditional brick and mortar stores, and smarter, more highly targeted approaches to acquiring new customers and increasing conversion rates will be explored for creating more value. Investment will need to continue to flow into methods that allow retailers to make their processes more efficient and increase engagement with customers.

Due to physical stores needing to follow the new retail models, it’s likely they will be a lot smaller in size than traditional megastores, thus costing less and releasing cash to fund capital projects. More access to funds will be available to retailers who combine a strong business strategy with a well-executed digital strategy.

ONLINE INVESTMENT

2020 will be a year where retailers are selective with their capital investments, brought on by global economic issues like trade wars, uncertainty in the stability of the global economy, and the high use of discounting and promotions in retail. This will force investors to look for other ways in which they can obtain value and generate more opportunities from businesses.

There will be less of an emphasis on growth through traditional brick and mortar stores, and smarter, more highly targeted approaches to acquiring new customers and increasing conversion rates will be explored for creating more value. Investment will need to continue to flow into methods that allow retailers to make their processes more efficient and increase engagement with customers.

Due to physical stores needing to follow the new retail models, it’s likely they will be a lot smaller in size than traditional megastores, thus costing less and releasing cash to fund capital projects. More access to funds will be available to retailers who combine a strong business strategy with a well-executed digital strategy.

HOW DOES SAP BUSINESS ONE MANAGE ECOMMERCE?

SAP® Business One – Fashion One provides complete integrated management of your business. This platform was specifically designed for those in the apparel manufacturing, distribution, and import business. Manages finished and raw material inventory, cut tickets, allocations, open-to-sell, accounts payables & receivables, financials, UPC codes, EDI, eCommerce and much more.

HOW DOES SAP BUSINESS ONE MANAGE ECOMMERCE?

SAP® Business One – Fashion One provides complete integrated management of your business. This platform was specifically designed for those in the apparel manufacturing, distribution, and import business. Manages finished and raw material inventory, cut tickets, allocations, open-to-sell, accounts payables & receivables, financials, UPC codes, EDI, eCommerce and much more.

ONLINE INVESTMENT

2020 will be a year where retailers are selective with their capital investments, brought on by global economic issues like trade wars, uncertainty in the stability of the global economy, and the high use of discounting and promotions in retail. This will force investors to look for other ways in which they can obtain value and generate more opportunities from businesses.

There will be less of an emphasis on growth through traditional brick and mortar stores, and smarter, more highly targeted approaches to acquiring new customers and increasing conversion rates will be explored for creating more value. Investment will need to continue to flow into methods that allow retailers to make their processes more efficient and increase engagement with customers.

Due to physical stores needing to follow the new retail models, it’s likely they will be a lot smaller in size than traditional megastores, thus costing less and releasing cash to fund capital projects. More access to funds will be available to retailers who combine a strong business strategy with a well-executed digital strategy.

HOW DOES SAP BUSINESS ONE MANAGE ECOMMERCE?

SAP® Business One – Fashion One provides complete integrated management of your business. This platform was specifically designed for those in the apparel manufacturing, distribution, and import business. Manages finished and raw material inventory, cut tickets, allocations, open-to-sell, accounts payables & receivables, financials, UPC codes, EDI, eCommerce and much more.

What our customers say