Retail is detail and complexity. Retailers have to reduce inventory investment while they improve in-stock positions, increase customer service while they reduce labor costs, and decrease operation costs while they expand to multiple channels. Add to these demands the need to consolidate acquisitions, fight off encroaching competition, and do it all in a challenging economic cycle, and it is clear that retail requires advanced business solutions.
Challenges in the Retail Industry
- Automatic approval is not allowed for foreign investment in retail.
- Regulations restricting real estate purchases, and cumbersome local laws.
- Taxation, which favours small retail businesses.
- Absence of developed supply chain and integrated IT management.
- Lack of trained work force.
- Low skill level for retailing management.
- Lack of Retailing Courses and study options
- Intrinsic complexity of retailing – rapid price changes, constant threat of product obsolescence and low margins
Microsoft Dynamics AX can help retailers better manage retail operations, processes, and relationships for greater profitability.
Using Microsoft Dynamics AX to manage your retail business processes you will:
Optimize inventory management and merchandising decisions
- Gain insight into product, department, and store performance
- Respond immediately to trends in customer purchasing behavior
- Improve product pricing management with fact-based decisions
Support multichannel operations
- Process orders and returns via any channel
- Gather and analyze real-time, multichannel data to respond quickly to customer demand
Coordinate and track customer interaction across multiple channels