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For running a retail business, there are various aspects that one needs to vary - market trends, keeping inventory up-to-date, customer retention & engagement, employee or staff management, accounts & finance, etc... There are a variety of challenges that retail business owners have to battle to keep the business going. On top of it, the intense competition in the market and the growing
When the COVID-19 pandemic started, the sector which was greatly impacted by it was the SMEs. To be more specific, the retail sector got hit the worst. Inefficiencies, visibility, profitability, and liquidity issues surfaced for SMEs when a sudden lockdown was announced country-wide. It took a while, but everyone began to realize that the answer to addressing these issues is a sophisticated,
Since the COVID-19 outbreak started, the world went through several changes. Companies introduced the Work From Home culture, people using online platforms for shopping & making payments, and businesses preferring to adopt digital work culture. Take an example of online food ordering apps - they are everywhere, making life simple and easier for people. But, most of these apps are
With the ongoing coronavirus and anticipation of a more dangerous pandemic might occur, businesses and industries have started to rethink over daily operations. Consumers no longer want to wait in long queues to make transactions, neither they want to touch the cash and coins that might have been touched by thousands of strangers. Which is why contactless payments are becoming a necessity for
One thing that everyone might have learned from this pandemic crisis, it’s the importance of digitalization to keep the business working and stay competitive. If we look at the situation before the pandemic, most of the businesses were working on on-premises ERP models, which were good when working at the location itself. But now, things have changed since cloud computing capabilities are
Since the COVID-19 outbreak started, the retail sector witnessed some drastic changes. If we look at the stats, then, according to Mitsui & Co. Global Strategic Studies, there are around 13 million small and medium Kirana stores. During the 1st wave of coronavirus, the government enforced some strict regulations, which became a challenge for retailers as they weren’t ready for such changes.
The pandemic, growing competition, rise in consumer demands, and the complexities in manufacturing processes has made the pharma business to look for that differentiate it from other industries. Not to mention that centralized management, cloud data-backed analytics, streamlined workflow, and better decision making have become important ingredients for every industry. And to address these
One thing that COVID-19 taught to retailers is that the use of modern ERP solutions that offer omnichannel, cloud-native, multi-billing, and microservices is inevitable if they want to address rapid change in shopper’s demand in the future.
We can’t deny the fact that it was necessary to impose a nationwide lockdown to protect people from getting infected, but it also sent a shockwave of
In a fashion & apparel business, one of the difficult tasks is to understand the rapidly changing demands of customers and to address them on time. A current trend can become a talk-of-old-days in the fashion industry. That’s how versatile this market is. According to cio.com, the Indian fashion retail industry will become USD 115 billion market till 2027. Because of this, various Indian
When we talk about the pharmaceutical industry, one picture that always comes into our mind is a lot of medicines with different expiry details, stocks, prescription type, and a big warehouse consisting of all the medicines. If you ask a person who deals in the pharma business that “what’s the most important and sensitive process in this industry?” then he would probably answer, “managing