Investing in Merchandise Planning - Top 5 Questions to ask

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Top 5 questions to ask before investing in
a Merchandise Planning solution

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Merchandise Planning in Retail

• In retail, the POS is where the business
  promise is realized by the customer

• Today, POS represents much more than a system to
  process purchases

• It can be used as an effective tool to fulfill
  the expectations of the retail business

• It can be employed as an effective medium to
  enhance customer experience

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5 Key checks to be made before investing in a new
retail POS system

• 1. Does it provide true integration with
  enterprise data?
• When a customer, approaches the POS terminal to
  complete a purchase,
• the cashier, feeds in the customers name or
  swipes her membership card
• to access her buying history.
• The system interface now displays the customers
  purchase patterns
• and past sale analysis enabling the cashier to
  make recommendations
• basis the most frequent bought items, and current
  offerings on her
• loyalty credits and identifies promotions to
  cross/up-sell.
• If a product is not available in-store, the
  cashier views, ships and
• tracks products directly from other
  stores/warehouses to the
• customers desired location.
• Through an integrated POS system, the cashier
  accesses real-time
• enterprise CRM and inventory data, store sales
  reports, product
• performance and business analysis.
• It empowers him to fulfill customer expectations
  and thus drive demand optimally. 

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5 Key checks to be made before investing in a new
retail POS system

• 2. What about omni-channel functions?
• Consumer expectations are not just getting the
  right product at the right price,
• at the right place at the right time, but also
  the right interaction and
• the right service everywhere.
• An omni-channel POS system streamlines business
  operations
• across physical and digital retail platforms.
• Customers value instant connect with the brand
  and staying
• informed, updated and engaged seamlessly across
  channels.
• Retailers also manage multiple touch-points
  through a
• centralized supply chain and intuitive system
  interface.
• The capability to delight customers across
  multiple channels
• lends to a bigger market share and favorable
  social quotient.
• The sustained engagement and accessibility also
  fosters
• loyalty and distinction from the competition.

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5 Key checks to be made before investing in a new
retail POS system

• 3. So is it completely mobile?
• In the age of instant gratification, the sight of
  a long waiting line would
• deter walk-ins and even lead to basket
  abandonment.
• Installing more POS terminals is an impractical
  solution in terms of
• added expense, floor space utilization and
  viability during low rush hours.
• mPOS technology extends the functions and
  capabilities of the
• POS system on smart devices, as an application.
• It helps in-store staff to approach the
  customers, consult them basis
• their CRM profile and conclude the purchase from
  anywhere in the store.
• Happy customers often spread the love to other
  prospects and
• drive demand.
• Saving in-store floor space and using
  cost-effective smart devices
• optimizes operational costs further.

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5 Key checks to be made before investing in a new
retail POS system

• 4. But will it support business growth?
• Considering the time it takes to set-up or
  upgrade enterprise
• technology software, it is essential to ensure
  the POS system
• is future-ready.
• The POS solution needs to be easily scalable and
  secure with
• the flexibility to adapt to different markets and
  industry
• dynamism.
• The ROI increases steadily with low
  administration costs
• and virtual system updates across the enterprise.
• The POS system processes are seamlessly automated
  across
• channels, providing centralized control.
• This helps deliver uniform brand experience,
  uncompromised
• customer service with complete operational
  visibility.

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5 Key checks to be made before investing in a new
retail POS system

• 5. Vendor or partner?
• Implementing technology is a long-term commitment
  which
• requires equal collaboration between the solution
  partner
• and the retail organization.
• While a software vendor might support to the
  point of
• implementation, a solution partner will share
  business goals
• towards innovation, growth and profitability.
• It is vital to choose a solution partner who has
  created a solid
• foundation in the industry with the experience of
  working with
• retailers of similar size and scope of operation.
• The solution partner should be able to dedicate
  expert teams with
• in-depth best practices knowledge. This helps
  structure the
• implementation, training, consecutive project
  phases and support
• in line with the business projections.

or
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Source

• Top 5 questions to ask before investing in retail
  POS technology
• http//softwaresolution.etpgroup.com/2015/05/top-5
  -questions-every-retailer-
• should.html

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