Today, we are introducing the next feature update to the RHBUS web app, Version 2.1.55. As people continue to rely on RHBUS more than ever to simplify their business process, we understand the importance of providing the best possible update experience to help people and their organizations stay protected and efficient in their business processes. It is a responsibility we do not take lightly). In today’s blog, I will cover details on the release, its scope.
Faster and better
Based on feedback and learnings during the past year from our customers, we have improved the speed, security, and remote access quality in this feature update. We have changed the domain name from https://rhbus.shop to https://rhbus.tech to signify the massive improvement that has happened within the application.
New features introduced in version 2.1.55
- Eway bill generation within the RHBUS web app.
- SSL-based authentication.
- E-invoice generation within the RHBUS web app.
- Barcode integration in the picking process.
- Option for bulk Sales Order import.
- Eway+EInvoice combined generation within the web app.
- Option for automatic assignment of pickers in large-scale organizations following best methodologies.
- New shipping providers integrated within the application for one-stop AWB number generation.
Feature update Conclusions:
Our layered approach to the development within the organization and launch of new features continues and we constantly improve by obtaining user feedback and data on performance and quality.
Strategic plan in a pandemic for retail, wholesale, and distribution industries is a must in-order to the face the unexpected and survive in the long term.
The following are the methods one can adopt to plan for the unexpected
- Create contingency plans: This can be done by listing the key risks and prioritizing them based on their impact.
- Mitigate supply chain shock: We need to establish links with new suppliers to diversifying the suppliers base, in order to mitigate the supply shock.
- Manage demand volatility: We need to keep in mind the human behavior, the demand will increase sharply when restrictions placed and demand will decrease when cases of infection will peak.
- Make work environment safe: Invest in protective equipment for supply-chain workers and as far as possible limit human to human contact.
Let us analyze a case study
In this paragraph, we will explore the case study of lockdown in India. India as we all know is one of the densely populated countries in the world. Covid-19 has been spreading like wild fire rapidly and becoming worse day by day. Many countries have identified the only way to contain the situation by introducing intense periods of Lockdown, however, due to the lockdown economy is taking the toll.
Some businesses are closing permanently, some of them are laying off their employees, some of them are changing their locations, etc. A tough lockdown may have been successful in breaking the COVID chain, however it has taken toll on the economy. Some business experts mention that it would take 1-2 years for the economy to come back to pre-pandemic levels .
Are the start-ups & small businesses are saying goodbye, how they can survive in the world market or with leading tycoons?
There were rumors spreading that start-ups are shutting down but looking deeper and researching we found that’s not true. They are adapting and coming up with new innovative ideas. They are the ones who can change the insights on the market. For example, people were not aware of the online money transfers before demonetization however, looks now almost everyone is using the UPI’s from maid salaries to grocery shops.
What this pandemic has done to the world is that it changed the perspectives. The business world changed the traditional way of sales and marketing adopting strategic plan in a pandemic for retail, wholesale and distribution industries!
Will a small change in the Sales strategies can change their falling sales curves?
Absolutely Yes. Business strategic planners should start thinking about going online & tying up with delivery partners, payment gateway. Social distancing is a must in this pandemic situation. Use the applications which are built on the latest technologies that help you in connecting with omnichannel (Multi-channel sales operations), logistic companies, payment gateways in one single platform & these outbound business strategies will help you to increase the sales and reduce credits accounts in the balance sheet.
Our insights from analysis of current market scenario.
Retail, wholesale, and distribution Industries are pursuing their business in a more traditional way which might have been alright in the previous normal but not relevant in the current situation & they should start adopting for technological changes such as –
- Starting online advertisement campaigns.
- Creating web stores. SEO on web pages.
- local market, or partnering with leading marketplaces.
As a result of these little changes you can catch the buyer’s attention but this does not mean that they will buy the products soon they notice the ads. For making the customers clicking on the checkout button, you will need to spend some time on the rendering of proper information i.e. in the detail product description on the website page, Pros of your product, Pricing on the product.
Not only the above-mentioned points, but one can also try retargeting campaigns and follow the same set of customers who were the website visitors by introducing more intriguing offers by following their social and online trails.
These may not take you heavy investments. Think about it! You just need time to rearrange the way you operate.
In conclusion retailers should immediately implement a digital supply chain management solution to reduce disruptions.
A based cloud ERP can help mitigate the impact of the coronavirus in the following ways:
- Allows adoption of omni cannel sales it as a result it cushions the impact of sales during low demand.
- A cloud based ERP solution will help in monitoring of inventory remotely without the need of additional personal Above all making following social distance easier.
- RHBUS ERP solution helps in managing multiple suppliers at one place making sending & receiving quotation easier.
In conclusion Gear up now unless it’s too late. Your competitors are already on board for this. All every business needs to do is take the actions now.
The Organic stores are leveling up their retails sales and distribution. As a result, it’s time to adopt grocery retailing software for their supply chain management.
There are some common problems like high perishability of the greens, fruits, and vegetables, and quick time around from harvest to delivery to end customers, and so on.
Lets us tell you how problems can be addressed using Grocery retailing software for retail
- LOT Management Tracking: Track your stock right from procurement to multiple sales channels in your business by LOT management system. RHBUS lot system helps in tracking an exact lot of each product and helps in showing the age of the product & helps in managing the stock in the FIFO method.
- 100% monitoring of stocks: Know the actual stock received from the supplier and compare it with the ordered quantity. RHBUS status dashboard will help the purchaser to see the status of the Purchase order on Goods Received partial or received incomplete.
- Bin level management of stocks: Tracking the stock till the storage unit level will give enormous control on the physical stock availability & managing the product visibility at the time of pick or transfer the stock to store, & also know your product’s shelf life and expiry days of the stocks in their respective locations, zones, shelves, and storage unit which will help in the reduction of wastage.
Grocery retailing software for retail can also help in improving brand in the following ways
- Omni sales channels management: RHBUS is a True omnichannel platform with options to manage multiple sales channels (including POS, E-com, B2B, third e-com party sales) in one platform for order management and tracking real-time stocks on hand.
- Third-party item code integration: The third-party item code integration feature in the RHBUS application will help in the reduction of human errors and reduce time consumption by importing sales orders in bulk.
- UOM conversions: Automatic unit of measure conversion helps you in keeping the accuracy of the inventory, irrespective of how the UOM is in the received goods.
Example: You can Purchase stocks in i.e., KGS, BOX, BUNDLE, etc, and these can sell in EACH, UNIT, PACK, etc and still the inventory will be accurate.
How ERP can optimize your business process
- Batchwise bulk sales invoice: RHBUS has a built-in feature that allows bulk conversion or batch-wise conversion of multiple sales orders to the warehouse pick and further to sales invoice. This helps in processing the E-commerce & B2B orders.
- Connecting weigh scale while shipping: RHBUS has a built-in weigh scale integration feature that allows you to capture the Weight of the products before shipping to the customer and generate an invoice and AWB for the same shipped quantity.
- RHBUS API: Allows integration with shipment partner, Prepaid cards & Payment gateways helps in building the business to the next level.
- Wastage tracking: With RHBUS segmentation, the User can track the wastage of stocks at the warehouse, Loss in transfer from the warehouse to store, and daily wastage at each store and take corrective actions to reduce it.
- Shelf life of the product: keeping track of the Product is very crucial for reducing wastage, and improving customer satisfaction, the ERP should be able to track the same.
- RHBUS Built-in Warehouse: Management can transfer from the warehouse to stores & another warehouse, at the same time tracking the actual stock availability in all the locations and tracking accountability of employees as every action in RHBUS is tracked by their user id and time stamp.
- POS for retail: Retail POS allows Fast check-out increasing the throughput of customers at the cash register. This reduces the chances of a customer seeing a long line and thus improving satisfaction.
How ERP can help you retain customers
- Loyalty plan: RHBUS has built-in loyalty management that allows customers to earn & burn the Loyalty points by just scanning the QR Code on their mobile, thus giving them incentives and satisfaction.
RHBUS is a saas-based application built for real-world problems and implemented for products of the soil stores, greengrocer, or natural food stores (F&V). Regardless of whether customers own a solitary store or a chain of stores, it will meet your requirements.
Using Retail software is a need in this fast-changing world.
Retail software plays a very important role in keeping track of all the activity, not just purchase and sales but the product aging which helps in reducing stock which is blocking the working capital.
Setting up the SOP for a business at the beginning is a fun and interesting activity, but after a few months or even within days we give up the process.
There are many ways to overcome these situations
follow a simple workaround with employees
Make a blueprint of complete Business Operations, the stakeholders of the company will have to work with real-world problems and use their prior experience to explain what occurs in day-to-day operations.
After deep discussions and understanding with keys operators in a company, the SOP “Standard Operating Procedure” will be prepared and set.
The Big Question, Is How To Make Sure This SOP Been Followed?
The factors and assumptions considered while setting the SOP for a Business will differ from the reality, this may be
- Consideration of actual scenarios.
- The constant change in management decisions.
- Employees fail to understand the process.
- Regular auditing on follow up of the processes
- The discipline of the business owner.
To successfully implement SOP, the following steps need to be considered:
a) Try to follow the process in real-time even before implementing the standard process and be practical in analyzing it.
b) Any new employee who is on board, should be able to understand his role and start performing as per the SOP.
c) Ensure you have an application (Software for Retail) that captures the User and the time stamp for an audit trail.
d) Set up an approval process for 2 critical areas.
i) Purchase Order
ii) Sales order
Ensure to have a check on the process been followed across the organization.
SOP is not just a procedure specific to your operation that describes the activities necessary to perform tasks following industry standards, it is a set of rules and guidelines to ensure the efficiency of business is improved.
Setting up a standard operating procedure not only helps in streamlining the process but also helps in building Discipline in the business.
Business should continue building, even in the absence of the Business Owner.
A retail shop software helps in knowing the real time stock availability across the channels of your organization leading to lucrative profits.
The excess inventory is an issue faced by most SMEs due to the non-visibility of stock in real-time, but retailers & distributors have some other unique challenges not as common at other businesses a retail shop software can address all such issues by showing real-time stock and making stock predictions.
Based on a research
- Over 60% of the customers were willing to seek another retailer if a brand isn’t able to offer their preferred products fulfillment.
- 2/3rd of the customers reported that they are less likely to buy from retailers who are unable to confirm product availability.
- Studies have shown that the annual additional cost of holding excess inventory can be 25% to 32% of gross margin.
As a result, this lowers operating profits. When there is no real-time inventory visibility, you may hold more inventory than you need, consider for instance we cannot identify the availability or SKU of the products when it’s needed for sales.
Your Income Statement suffers in two ways
- Lower gross margin due to lack of effective conversion of potential prospects to customers&
- Increased Operating Expenses for additional space, labor to manage, excess investment on the stock, and taxes.
How can poor stock visibility negatively affect a brand?
There is no mercy for bad stock visibility, if you have a product it would need that bringing to the customer’s attention at the very start of the shop, or either at the very end it should be arranged as such.
Brick and mortar stores can be at risk of bad stock visibility, primarily due to not changing their layouts often enough and not considering external environments.
For example, it is summer outside and you find the store is pushing heavy on raincoats, it does not work, does it?
You would want your shorts, t-shirts, sunscreens, cooling glasses, and flip-flops at the very front of your store.
How retailers handle this problem?
As a result many large-scale retailers usually hire expert retail installation companies that usually take care of stock merchandising, store layout design, and attractive signage installation.
Therefore, Hiring a Retail Installation company will also provide real-time insights and performance indicators through store audits and surveys which will further help in future planning and regular reshuffling initiatives, like updating customer-facing shelves and stock movement activities. Above all, helping in getting a positive return on investment through maximized sales and customer engagement.
In the coming years, inventory visibility will become very important to omnichannel retail strategies therefore, we need to choose the right inventory management software such as RHBUS to improve real-time stock visibility.
Inventory is meant to be sold. Any unsold inventory can pile up over time eating into space in your stockroom or warehouse. Let us take a luggage store as an example, you have an inventory of a boy’s handbag in your luggage store that doesn’t sell and doesn’t have a high likelihood of selling in the future. We refer to that inventory of the boy’s handbags as dead stock.
Deadstock by definition is a stock of products that are not likely to ever leave the shelves in your shop.
A common error of your retail businesses is not taking any action to obviate their stock, meaning these products still occupy space within the warehouse and slowly drain valuable finances which might be allocated towards business growth.
How software for shop management can avoid dead stock?
RHBUS shop management software has features such as demand forecasting and inventory forecasting to help find that balance. Sellers can stock accordingly by predicting product demand and certain sales. This will change in complexity counting on your business age, the capital, and your existing data, but taking the time to forecast sales will help you to streamline your inventory management and reduce costs. The shop management software can also automate process flows to avoid human error and oversight.
How to Clear Dead Stock Inventory?
Give out massive discounts keeping in mind this unwanted stock is draining resources, this sort of discount usually helps you in giving you a fresh start in terms of acquiring or getting a new set of products that are more suitable for the present market and your business and customers.
Bundle your product with other fast-selling products, in case of bundling products we need to make sure that the cost of the package is such that the cost of the bundle is lower than if products are purchased individually. This would help you get customer satisfaction and also help you get rid of dead stock from your inventory.
Treat Your Staff
This is one the easiest way to get rid of dead stock, you may give the dead stock to your staff as a performance bonus, festival bonus, or just as a sign of gratitude.
This would help in boosting the employee morals and employee satisfaction along with the added benefit of getting rid of dead stock.
Give it off for free to Charity
If your dead stock is such that it cannot be given in discount, bundled, given to staff due to reasons such as the product is made for an event and the event is canceled, the product degraded or damaged in storage and the refurbishing cost is high. We can give it to charity, this would help us in creating a positive brand image in the society.
Well, if you follow all of those tactics, will your dead stock get away completely? Nope, there’s no certain answer thereto, but the above steps can assist you to identify loopholes and keep dead stock in restraint or check. You’ll have to revisit these strategies on an endless basis and adjust them to support your business needs and market conditions.
Retail Business needs to press the Reconfigure button in terms of Marketing & Sales of the Products in the Real-world. The trends of shopping have changed drastically from in-store shop sales to online sales concept. It has taken an upside-down business strategy, which has to be adopted by a small shop keeper to Branded big size businesses.
Here is what hits your mind if you are in a Retail business, what kind of technologies or infrastructure should I need to pass through these hurdles of sales?
Also these are the few simple things to check from Business Solutions Partners & Bring in the intelligence to stores:
let’s start this from what is Omnichannel? It’s a Multi-channel Sales approach In Retail Business that provides the customer to shop the products from different channels like an e-commerce website, mobile app, market places like (Amazon, Flipkart, Myntra, etc.), or from in-store POS systems.
As the “SAAS” word explains itself as “Software as A Service”. In this pandemic era, the Retail business is going in downwards and has shrinkage in the cash flows. This is where the SAAS based cloud platforms will come into the frame, which is cost-effective as there will be no high upfront cost to pay. There are multiple plans like monthly, quarterly, or yearly. Or even you can go with a Transaction basis also. This kind of platform provides you a complete set of solutions required to run the Retail Business.
Data Analysis Reports –
“Data is the King” in the World now. How does the data help in doing strategic sales?
By using the sales data, the RHBUS ERP platform captures the data of walk-in sales or E-commerce customer contact, DOB detail along with the purchase patron of what product they are interested in, and what is the interval of the visit or purchase through the store or e-commerce portal. This helps is pushing out for marketing through running private sales, Promoting to those customers.
Integration with third-party logistics
Get connected with Logistics partners Using integration with the Cloud-based supply chain platform, this third-party logistics API pulls the details of shipping and product dimensions and gives you the shipping cost. also, generate the shipping label. where the shipping company will take care of delivering, and with tracking facilities.
Also, Payment gateway integrations help to send the payment link to the customer & it’s super easy to collect cash from your customer anywhere & anytime! Isn’t that cool!
Modern business solutions will facilitate effective management for day to day process flow and build the Business.
This is some little information & an overview of the knowledge that I have in retail stores to look into the business in different perceptions, and start to accelerate it slow & steady process. Start with a platform that provides end to end services for your business with a SAAS based module. Hope this Blog helps you in deciding the right path to your business operations.