Just because your business is not as big as Walmart’s doesn’t mean you can’t benefit from Supply Chain Management (SCM). Running out of stock is a nightmare for every retailer, regardless of the size of the business. Grocery Retail is no different. Food retail has always been a tough and turbulent market, but grocery itself has taken a dramatic twist we haven’t seen in decades.
After the pandemic struck, consumer shopping patterns and preferences changed rapidly. Moreover, bottleneck competition in the form of quick commerce apps, grocerants, and specialty stores selling organic and sustainable consumer products forced grocers to innovate. The pressure kept piling up as big supermarkets and hypermarkets expanded their footprints to eCommerce channels. On top of these challenges lay supply chain imbalances which took a toll on customers’ experiences and businesses’ profitability.
Build Next-Generation Supply Chain Operations with the right ERP Solution
An efficient ERP solution is the backbone to support good business practices and helps provide all the tech stack a business needs. That is where a modern and leading enterprise resource planning (ERP) platform like Dynamics 365 Super & Hypermarkets Solution designed specifically for your grocery retail, can help you.
Take notes on the following 4 ways a dynamic ERP platform can help your business.
1. Maximize Profit With A Streamlined Grocery Retail Supply Chain
An ERP solution streamlines the movement of your stocks and ensures seasonal demand management by monitoring the critical control points of your supply chain. This reduces procurement and stock replenishment challenges and overcomes delays in data transfer and lack of real-time visibility. It also ensures accurate and optimized inventory management to drive efficiency and operational agility for your grocery business.
2. Reduce Carrying Costs and Unnecessary Spoilage
An ERP plays a significant role in ensuring the automation of necessary functions so that inventory purchasing, organizing, and transferring of stocks are in sync. The system also helps maintain optimal levels of stock by integrating the inventory needs of a business. This enables businesses to have clear visibility into stock levels at multiple locations, reduce storage costs, and ensure smart resource allocation.
3. Achieve Enterprise-Wide Cost Controls
The benefits of a cutting-edge ERP are manifold, from integrating business processes across departments to streamlining your purchasing, finance and operations, sales, and human resource processes. It can also eliminate monotonous manual work and increase accuracy through digitization. Giving you precise facts and figures to make data-driven intelligent business decisions.
4. Maintain Food Safety Modernization Act (FSMA) Compliance
Adhering to and following the FSMA, grocery retailer businesses can run more efficiently and profitably.
Now that it is clear to you how we can help let’s look at the ways we can bring value to your business. As a grocery retailer in the 21st century who wants to stay ahead of the pack, you need fool-proof technology and ground-breaking innovations to uplift your store’s supply chain.
So, what practices can, and should, grocery retailers follow to make sure their supply chain operations are running smoothly? Let’s take a look at how businesses can draw value and drive growth through efficient supply chain management in grocery retailing.
Best Practices for Supply Chain Management
1. Use Cloud-Based Software to Track and Manage Inventory in Real Time
To ensure your store never runs out of stocks and product assortments, you need a reliable means of tracking your inventory levels. Implementing a cloud-based SCM software will help you keep track of your inventory, eliminating any shortages or excessive surpluses of stock. In addition, having access to past data, historical sales, changes in trends, and competitive price waves will help you forecast better.
