In addition to economic and marketplace variables, consumer packaged goods (CPG) businesses also have challenges at the retail level. Meeting customer, retailer and marketplace demands that can come from online stores as well as brick-and-mortar stores, while protecting thinning profit margins, is no small task. However, distributors can stay on top of these challenges with the support of the right enterprise resource planning (ERP) solution.
The retail industry is often fast-paced and full of tough competitors. In order to stay ahead of the competition and stand out in the crowd, your CPG business needs to be customer-focused and highly responsive. With retail opportunities expanding out of traditional storefronts into online methods, being recognized and responsive isn’t exactly easy, which is why you need the support of a powerful ERP solution like Microsoft Dynamics® GP.
Microsoft Dynamics GP is a robust ERP solution that you can use to manage all of your business operations, including financials, inventory and supply chain, manufacturing and distribution operations, and other core business processes. You can pay close attention to what is going on in your business as well as monitor trends with your customers. This insight can guide you to making strategic inventory decisions, for example, that can save you money from overstocking excess inventory while making sure you have the products that your customers want. Electronic inventory management, including RFID, bar codes, and EPCs, can be deployed to maintain accurate counts of fast-moving inventory. Reliable inventory data is necessary for ensuring you can deliver products, on time and in the right quantities, each and every time.
You can also use the built-in business intelligence offered with Microsoft Dynamics GP to monitor product and customer trends. Identify which products are common replenishment items as well as those that may be gaining or losing popularity in the marketplace. This can further streamline procurement decisions that can lead to cost savings.
Microsoft Dynamics GP is powerful, yet flexible, and provides the agility you need to respond faster to changing marketplace conditions as well as changing customer demands. Contact The Resource Group for more information about using Microsoft Dynamics GP to stay on top of the trends that can keep you ahead of your competitors.
By The Resource Group, a Microsoft Dynamics GP Partner out of Washington
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