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Summary
We offer retail MMS solutions to enable retailers to respond to sudden market shifts and meet customer expectations quickly.
The application is used by thousands of retailers worldwide to increase sales, improve profit margins, and increase overall efficiency. The software has powerful capabilities that enable it to handle challenging business operations like inventory control, allocation, vendor management, customer orders, and more. Furthermore, the retail MMS comes with various applications that can help e-commerce retailers in their business. Let’s have a look at the blog for a better understanding.
Retail MMS software helps manufacturers, retailers, and wholesale distributors in more than 60 countries. On average around 5,500 retailers are advancing their Retail portfolios and simplifying their supply-demand solutions. The merchandise management system is widely used and well-known among industries for its stability, built-in capabilities, and its promotion features. Furthermore, the software is also known for its ability to simulate pricing strategies and make the right pricing decisions before implementation.
The data warehouse is the must-have technology for the merchandise management system.
The Retail MMS Application Suite Includes:
- Inventory Control & Procurement
- Buyer’s Workbench
- Vendor Management
- Price Management
- Financial Control
- Distribution Centre Management
- Merchandise Receiving, Allocation & Replenishment
- Promotional Management
Inventory Control & Procurement
The inventory control & procurement process includes purchasing & inventory management. The module is also used to perform necessary allocation and create purchase orders in the inventory. Retail MMS makes broad use of inventory transactions, and every activity can be monitored closely.
Purchase order pickups from single or multiple locations can be scheduled in advance. Moreover, it supports physical inventory count on stores.
Stock balances can be monitored with retail MMS, and specific transactions like stock balancing, managing promotional pricing, order creation, and many more tasks can be done through MMS. Apart from this, flash sales reporting and other 20+ categories can be managed online through retail.
Buyer’s Workbench
The Buyer’s Workbench is also a retail MMS module that includes a series of functions to address the purchasing and receiving related tasks. The process consists of colour and size checks of the material, pre-packs, material received, item maintenance, and SKUs.
The physical stores and distribution centres support the free movement of merchandise between locations.
The merchandise management system tracks sales and inventory by colour, size, and dimension. Moreover, these can be analysed in aggregate or individually.
Vendor Management
The vendor management module in retail MMS is used to maintain vendors as a part of the account payable process. Furthermore, the module supports an advanced level of allowances and rebates to assist in miscellaneous costing management, such as freight.
Vendor compliance and receipts are checked and tracked for damages, and the process also includes invoice matching.
Price Management
The merchandise management system includes cost management policies, and it works parallel with other modules. Companies host events to update the regular price at POS and track mark-ups throughout the course. The price of an item can be managed at stores or warehouses or a zonal level.
Financial Control
Retail MMS comes with Accounts Payable, General Ledger, and Account Receivable-like functions. Apart from this, the merchandise management system has numerous advantages and can lead you to manage accounts through a highly integrated accounting application.
Distribution Centre Management
Distribution Centre Management is a logistics module, and it includes inbound shipment scheduling, receiving, and put-away. DC management also comes with a cycle count functionality to assist users in inventory count.
This retail MMS module supports some advanced functionalities like cross-docking and various unique features that include pallet manifesting, holding and allocating merchandise without moving it to the holding zone, and supporting overall warehouse functionalities.
Merchandise Receiving, Allocation & Replenishment
Merchandise receiving is used when the automatic receiving of goods is implemented. Automated replacement accepts a considerable number of options and keeps the minimum/maximum formula aside. Apart from this, item velocity and sales profile can also be included in this process. The Warehouse replenishment can be chosen if more functionality is required.
Promotional Management
This module in retail MMS allows various pricing schemes to support deal pricing, like (Buy 1 Get 1, Short term discount, quantity breaks, Mix/match, Price Multiples, Dimension Overrides, and Many More). Promotional events come with an expiry date, and once the promotion period is over, the item will be available at its regular price.
Conclusion
From the above pointers, you must have understood the working of retail MMS and how the modules can be beneficial for your business. It’s a modern technique that needs to be implemented within organizations to better customer engagement and manage business operations effectively.
If you are looking for the easy implementation of retail MMS, Integrative systems can help you.
Integrative Systems is the company that you should turn for MMS implementation, align effectively with supply & demand modules, and effectively manage merchandise. The retail MMS also has the capability of mobile access, which gives a user-friendly experience. Moreover, the system is fully customizable and requires no special hardware for setup. Feel free to share your requirements with us at [email protected], and someone from our team will connect with you in 1-2 business days.
