Author: RV_Author

Stock-take is a process where the physical count of items in any shop or warehouse is matched with its system stock quantity. There is quite often differences between them due to reasons attributable to a) wrong barcoding; b) pilferage; c) breakage etc.,

Most retailers are unable to perform stock-take during operating hours due to the use of an off-line POS system, which updates stock of inward and outward once in the night. Hence, at the time of stock-take, the system quantity is not live and real and hence can’t be matched instantly. Further, due to time lag between count and system stock updating, a lengthy reconciliation process is attempted before a stock-take result is finally closed and count variances are posted to inventory and financial general ledger. Given this lethargic process, often stock take is delayed or neglected, leading to poor inventory control and management

Statistics indicate a 30% difference between physical and system stock in a retail environment, leading to poor customer satisfaction. Further, every stock-take count takes about two weeks to close after prolonged backward reconciliation process

Intelligent stock take is a process where you use barcode equipped mobile phones to scan items and instantly match with system stock. Intelligent stock take can be performed at any point in time, including during operating hours of a store.

Stock-take variances are reconciled instantly, and variances analyzed at the close of every stock-take count and disposed of with count adjustments or otherwise. Since it is online and real-time, intelligent stock take helps to identify actual stock items where there are variances, thereby reducing variance analysis time substantially. There is no need to do backward reconciliations and waste precious man-hours

Of our experience with clients using our Retail ViVA ERP, Intelligent stock take improves efficiency over 300% while reducing cycle time by about 90%, compared to traditional stock-take methods

Intelligent stock-take also helps to do risk analysis of items that are perpetually indifference and thus provides inputs for system and control improvisation

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Written by
(Ragu)nathan Kannan

raguk@sathguru.com

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Responsiveness is an organization’s ability to recognize and be ready to adapt to changes almost instantly as industry and customer preferences change. If the company can’t be responsive, it will never be able to meet constantly changing customer expectations

The centricity of success has changed from machines and logistics in 20th century to software and enterprise systems in the 21st Century, which means that enterprise systems are directly and continuously and instantly shaped by what the market wants. An enterprise that can make its enterprise systems change flexibly almost co-terminus to market change is a successful 21st-century enterprise (21CE).

Unless 21CE’s reinvent their process and business models constantly, their survival becomes difficult. It is just new normal that 21CE constantly reconfigure their resources and capabilities. Since 21CE are highly digital and offers complete digital experiences to customers, any reconfigurations invariably lead to their enterprise systems change. That’s the flexibility 21CE is looking for, to have flexible enterprise systems. However intelligent a 21CE enterprise is, if it is not responsive, its intelligence can’t be exploited.  Every 21CE will be digitized and effectively become a software company or majorly driven by software algorithms, data, and analytics.

Enterprise systems to be considered flexible must allow for new functionality to be introduced easily and quickly. The biggest challenge of enterprise systems today is their scalability for new changes in a quick and self-service manner. The dependence on multi-party service providers makes companies wait for change and thus lose critical timeframes. Prolonged interactions with service providers frustrate internal stakeholders without being able to see the change instantly.  Internal stakeholders in any enterprise expect systems that respond to their information capture and analytic needs in a manner that is the most natural or self-service manner to them.

Companies who develop this responsiveness will successfully navigate change and maintain their customer relationships and provide that unified customer experience to delight.

Then what kind of enterprise systems do 21CE adopt? They must be flexible which means it is self-configurable and fully on self-service basis. And to respond to change quickly and to re-configure business models, it must be driven by change at their end rather than waiting for an external service provider to make the change slowly. A low-code/no-code is the best choice any responsive enterprise must make which then gives them the agility to be dynamic and adapt to change instantly.

That’s precisely the reason that Sathguru built sixteen of its twenty-six modules bundled retail ERP, Retail ViVA through its own no-code platform, to provide that flexibility to customers for making change on their own.

21CE are responsive enterprises that demand self-service creations and what more than no-code be the answer to it!

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Written by
(Ragu)nathan Kannan

raguk@sathguru.com

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