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Vision33 Blog

Insights to Transform Your Business

5 Pillars of Omnichannel Retail Strategy

Posted by Emily Warren on Thu, Apr 09, 2015 @ 11:40 AM

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With retailers reporting multichannel initiatives being far more profitable than selling in a single channel, transitioning to an omnichannel strategy truly pays off. We’ve talked about how trading partners must work together to meet the “perfect order” needs of the omnichannel consumer but in order to fulfill a successful omnichannel strategy, you need the right business management software to align all areas of your company.  Here are the five core components of an omnichannel retail business plan and how SAP Business One helps you implement them:

Sourcing

You don’t have time to manually vet the right trading partners. SAP Business One sourcing community enables you to query the community for items and proactively solicit vendors that meet your unique needs. Supporting and endless aisle strategy? You can connect to suppliers with e-commerce and drop ship capabilities.

Fulfillment

Exceed consumer expectations with fulfillment options that are built to enhance more collaborative trading partner relationships. SAP Business One empowers your connection to the retail industry’s largest network so you maintain a seamless connection with all trading partners you do business with, now and in the future.

Community

A hands-on, personal approach to community development takes the burden of enablement off your shoulders with battle-tested compliance solutions that maximize adoption rates and enhance your trading partner relationships. SAP Business One combines proven processes, tools and support services to ensure 70% to 90% vendor compliance within a few short months. 

Assortment

Enables suppliers to easily share their latest product assets with retail trading partners including detailed item information, pricing, images and video, and marketing content. This ensures you have access to all the information needed to bring in sales as well as drive efficiencies for retailers pressured to provide online shoppers with more in-depth details. 

Analytics

Gain real-time access to orders and catch potential disruptions before they impact your business. SAP Business One retail analytics transforms messy item and sales data into insights you need to make informed decisions faster. You‘ll be able to shift product assortment quick enough to meet consumer demand and boost profit. Analytics tools help your suppliers become proactive partners, giving you visibility into their performance via user-friendly dashboards and reporting that enhances collaboration.

SAP Business One powers your omnichannel supply chain and trading partner relationships. By streamlining collaboration, maximizing inventory and connecting to industry-leading retailers, you’ll be in a position to eliminate some of the most common retail challenges while capitalizing on new profitable opportunities.

If you’re using applications like QuickBooks or Microsoft Excel Spreadsheets and are quickly discovering you are not able to keep up with consumer omnichannel shopping expectations, learn more on the SAP Business One page or contact us at 949.420.3300 or email us at online@vision33.com.

Tags: SAP Business One, ERP, Retail, Omnichannel, Supply Chain Management, Industry Solution