Group 4

ERP RETAIL INDUSTRY

Subject
ENTERPRISE RESOURCE PLANNING

Instructor
Nguyen Thi Thanh Thanh
MEMBERS
Lê Quý Phát

Nguyễn Thị Ngọc Em

Châu Mỹ Phương

Phạm Phương Trinh

 CONTENTS
01. Introduction

02. Main Components

03. Benefits

04. Case Studies

05. Future Trends and Innovations

I. Introduction to ERP in
the Retail Industry
 1. Importance of ERP in Retail
By consolidating data into a single system:
ERPs offer heightened security and Data Security
controlled access, protecting sensitive
customer information.
They streamline supply chain operations, from
procurement to distribution, reducing costs and
enhancing performance.
• ERP systems act as a central repository for all
Centralized Data business data
• Enhancing reporting capabilities and
Management productivity while lowering operational costs.
ERP systems standardize data across the
Standardization organization, leading to more efficient decision-
making and improved operational efficiency.
Supply Chain
Optimization
By reducing errors and simplifying complex
Customer tasks, ERP systems enable retailers to provide a
Experience seamless customer experience.
2. Overview of ERP Systems in the retail sector
Unified Software Suite:
ERP systems consolidate various software components into a single suite
that manages everything from product planning to payment processing.

Comprehensive Coverage:
They cover areas such as inventory management, marketing, sales, and
customer relationship management (CRM).

Scalability:
ERPs are particularly beneficial for growing retailers, offering a robust,
scalable system that can grow with the business.

Real-time Data and Centralization:

Retail ERP solutions provide real-time information, facilitating data-driven
decisions for inventory, pricing, and promotions.

Automation:
These systems automate numerous retail processes, enhancing customer
management and simplifying inventory upkeep.
II. Main Components
of ERP in Retail
Main Components of ERP in Retail
 4 Main Components of ERP in Retail

a. Management of customer data 3. Financial

Management
1. Inventory b. Tracking of sales transactions a. Procurement and supplier
Management a. Accounting & financial management
c. Customer segmentation and
reporting b. Logistics and distribution
personalized marketing
a. Real-time tracking of
2. Sales and b. Budgeting and forecasting
stock levels c. Demand forecasting and
Customer
b. Optimization of inventory Relationship planning
turnover Management c. Revenue and expense
management
c. Integration with supply 4. Supply Chain
chain management Management
III. Benefits of ERP in
Retail
1. Improved Efficiency
Streamlined business processes
 ERP systems integrate various functions like sales, inventory, and
customer management into a unified platform, leading to smoother
operations and reduced errors.

Automation of repetitive tasks

 Automation of tasks such as order processing, billing, and inventory
management frees up staff for more strategic activities, increasing
productivity and efficiency.

Reduction in manual errors


Automated data entry and processing minimize the risk of human error,
ensuring more accurate information and better decision-making.
 2. Enhanced Visibility

Real-time data analytics

ERP systems provide live data, allowing for 01
timely insights and responses to market
Comprehensive reporting capabilities
changes.
02 Robust reporting tools generate detailed
Better decision-making based on reports for performance analysis and
insights
03
regulatory compliance, facilitating informed
decision-making.
Access to real-time data and analytics
empowers managers to make informed
decisions quickly, improving overall
business agility.
 3. Cost Reduction
Elimination of redundant
systems
Consolidating disparate
systems into a single ERP
solution reduces software and
maintenance costs.
Optimization of inventory and
supply chain
ERP systems enable better inventory
management and streamline supply
chain processes, reducing waste and
lead times.
Reduction in operational
costs
Streamlined processes and
improved efficiency leading to
lower costs in various areas, from
reduced labor to lower transaction
costs.
IV. Case Studies of Successfu
ERP Implementation in Retai
 1. Company
Fulton & Roark, a retailer of men's grooming products, is an example of a successful ERP
implementation. The ERP system the company uses is NetSuite.
 2. Overview of the Company’s challenges
Prior to upgrading to full-featured ERP:
• Businesses track their inventory using spreadsheets and financial data in
desktop accounting software, Sage Live.

• When the business began to double sales year over year, management
felt the business's current processes were not keeping up:

⚬ Spreadsheets couldn’t account for changing inventory costs.

⚬ Accounting software didn’t have the necessary workflow to record

the cost of goods sold (COGS), an important financial metric.

=> As a result, the Fulton & Roark team did double data entry but
manually.
 3. ERP selection process
Then, they learned that NetSuite could encompass three of
their existing internal platforms, centralizing much of their
work in one place.

The process included three main phases:

• Installing onsite software and/or contracting with a

SaaS provider.

• Migrating data from their previous system or systems

into the new ERP.

• Training the finance team to use the new software.

 4. Benefits achieved post-implementation
Once up and running:
Fulton & Roark achieved the results they needed:

• More sales without adding new employees, faster

and more accurate payroll processing, and the
ability to deliver tens of thousands of orders per
day without delays or errors.

• Capture and correct accounting errors related to

inventory.

• Get a more accurate picture of profit margins and

inventory, helping to grow business's e-commerce
operations.
V. Future Trends and
Innovations
 1. Adoption of Cloud-Based ERP Solutions
Cloud-based ERP solutions are becoming increasingly popular in the retail sector due to their flexibility,
scalability, and cost savings.

These solutions allow retailers to access and manage their data from anywhere, facilitating better decision-
making and operational efficiency.
2. Integration of Artificial Intelligence and Machine Learning
AI and ML are enhancing ERP systems by offering advanced analytics, predictive insights, and automation
capabilities. These technologies can help retailers better understand customer behavior, optimize inventory
management, and improve demand forecasting.
3. The Development of IoT
IoT in retail ERP includes advancements in AI and machine learning for predictive analytics, further automation
of supply chain processes, and enhanced customer personalization. The ongoing development of 5G technology
will also enable faster and more reliable IoT connectivity, amplifying the benefits of IoT-integrated ERP
systems in the retail sector.
4. Emphasis on Mobile ERP Applications
Mobile ERP applications are becoming more prevalent, enabling real-time access to business data and
operations. This mobility improves decision-making and productivity by allowing employees to perform
essential tasks from anywhere.
VI. Conclusion
1. Recap of the importance of ERP in the retail industry
ERPs are crucial for:
• centralizing data

• enhancing security

• standardizing processes

• optimizing supply chains

• improving customer experiences.

These systems integrate various functions into

a unified platform, streamlining operations and
reducing errors.
2. Summary of benefits and challenges
ERPs offer numerous benefits:
• improved efficiency

• enhanced visibility

• cost reduction.

Challenges:
• However, the implementation process can be
complex and requires careful planning and
management to ensure success.
3. Outlook for the future of ERP in retail

• The future of ERP in retail is promising, driven

by advancements in cloud computing, AI, ML,
omnichannel capabilities, and mobile
applications.

• These innovations will continue to enhance the

functionality and efficiency of ERP systems,
helping retailers adapt to an increasingly
dynamic market.
 References
• 3 Successful ERP Implementation Case Studies | NetSuite.
https://www.netsuite.com/portal/resource/articles/erp/erp-implementation-case-study.shtml.

• https://www.selecthub.com/enterprise-resource-planning/retail-erp-maximizing-value-erp-
software-industry-crossroads/

• https://www.selecthub.com/enterprise-resource-planning/erp-trends/

• https://tekhqs.com/blogs/benefits-of-erp-for-retail#:~:text=With%20a%20proper%20retail
%20ERP,and%20reducing%20manual%20data%20entry.

• https://multidev.com/blog/benefits-of-erp-software-in-retail-industry/
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