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.