4 Processes in Retail That Require Immediate Optimization
Optimizing workflows for retail isn’t a new topic. The fact that retailers have comprehensive reporting or an automated WMS (warehouse management system) does not look unusual today. Indeed, at the moment, the main indicator of the progressive level of the company, especially in the sphere of services and sales, is the combination of the speed of service provision and its quality. Optimizing store operations allows you to achieve a high level and maximum efficiency of service.
In order for a point of sale to continue to develop and generate profits, retailers need to automate internal processes. Below are 4 main processes that need to be optimized.
1. Accounting and distribution of goods
Almost half of all store employees’ efforts go into receiving, recording, and distributing goods, as well as updating prices and restocking. This takes a lot of time and effort, which affects the overall speed of service.
To reduce the time spent on these processes, store owners should invest in systems that automatically and semi-automatically display items on shelves, update prices, and make restocking and cash flow management easier. In addition, the automation of inventory business processes increases the throughput of stores and makes it possible to track products in terms of characteristics, series, or expiration dates.
2. Warehouse logistics management
For the efficient operation of the store, well-established acceptance of goods, accurate distribution, and reliable accounting of goods in the warehouse are important. Plus, these processes must be prompt. If these functions are performed manually, the work of the entire enterprise can be slowed down significantly. In addition, there may be a need to attract additional staff.
The limited speed of non-automated storage can also lead to financial losses due to production downtime.
The introduction of mobile accounting technologies will help eliminate the risks of these and other problems. Mobile automation allows you to increase the speed of inventory, simplify the reservation of goods, analyze its availability in warehouses, and improve control over the number of items received and sent. At the same time, mobile accounting technologies provide high productivity of the labor process as a whole. At the same time, it isn’t necessary to implement an expensive WMS system.
In fact, 90% of companies do not need such a complex hardware complex, and the support of a complex system sometimes costs a lot to create it.
3. Sales process
Sales speed and quality of service are the main factors that determine customer loyalty. The ability to make a purchase quickly has a significant impact on how customers see a retailer. For 56% of people, fast checkout and shorter queues are critical to positive brand perception.
Nobody likes to wait. Today’s shoppers expect service to be instant. Product quality and excellent service are two key dimensions of a good customer experience. 85% of consumers abandon a purchase if they don’t like the service. Retailers simply cannot afford to ignore the impact of long queues on both company revenues and brand loyalty.
If it is difficult to find a place for a cash register or you want to save on expensive equipment, then you can opt for a data collection terminal or a smartphone program with a mobile cashier connected via Bluetooth and a cashless payment terminal. Having such a kit in the store, the consultant can make a calculation, issue a fiscal receipt, and take into account a personal discount during a dialogue with the customer.
4. Solution that grows with you
Retailers take on more staff for different reasons. It can be a new staff to sustain growth or temporary staff during peak seasonal trading. But any scanning solution needs to be scalable at speed while meeting employees changing needs over time. Replacing inflexible equipment with powerful, future-proof mobile software solutions reduces hardware costs immediately. In addition, new levels of efficiency and productivity go straight to the bottom line.