There is no low-tech way for retailers to succeed in today’s business environment and connected retail is a key to success in a high-tech world. Managing the supply chain isn’t anything new, but the tasks have become much more complex while generating copious amounts of data that must be managed. A connected retailer links technologies, solutions and data together for a seamless integration of channels and company objectives to build a culture of connectivity.
Access to the most up-to-date information is essential to making better business decisions. Enterprise software must provide real-time visibility of data and statistics about your entire supply chain, regardless of the channel. Data that was once siloed must now seamlessly integrate. Information must be able to flow freely across the organization. Online, in-store, mobile and catalog must all connect in real time. While there may be several channels, the goal is to have one software platform connecting them all.
Investing in functionally rich, configurable and integrated software increases sales from all channels, improves efficiencies and produces tangible outcomes that boost the bottom line. As a result, your systems can now support all mission-critical processes.
What connected retail can achieve:
- Eliminate disruption and maximize productivity with real time information
- Create a seamless flow of information
- Improve the decision-making process
- Minimize the risk of infrastructure security
- Enhance the customer engagement
- Boost revenue with precise inventory management in real time
- Enable users to quickly react to new challenges
As companies are challenged to increase business and meet short and long-term goals, many retailers are constrained by inflexible or outdated siloed software. The decision will need to be made whether to continue maintaining disparate legacy software or make the strategic decision to create a seamless flow of information linked together through technology to consolidate key elements historically housed on multiple systems.
The information revolution currently impacting retail means the demands of tomorrow will be vastly different from today. To stay ahead of the competition, you must ensure your software and systems meets the requirements of the present and future. Success in the long run will belong to the connected retailer.