Navigating the Retail Maze: Confessions of a Brand
Turning Straw into Gold: Unraveling the Brand’s Transformation Journey.
I AM
A three-decade old Men’s wear brand company based out of Bengaluru with revenues just shy of INR 100 Cr
CHALLENGE
The company was using legacy ERP system limiting product and inventory management, hampering the business profitability and scalability.
SOLUTION
They adopted the Intrakraft ecosystem integrating all their brands on its cohesive iROMP interface, thereby streamlining & integrating their entire inventory as well as ordering process. The real-time unified inventory visibility allowed it to venture into the e-commerce business generating additional revenues.
Control how and when you scale with complete end-to-end visibility of your retail ecosystem.
BENEFITS
Intrakraft iROMP allowed the Brand
Integration with the existing ERP system, ensuring sustainable continuity.
Exhaustive product catalogues with attribute mapping that can be shared and sought in real time.
Detailed inventory view across brands and warehouses with actionable insights.
Streamlined ordering process with real time inventory integration to reduce excess ordering and imrove order serviceability.
Helped venture into ecommerce space with real-time inventory support generating additional revenues.
Reshaping the Narrative: Lessons from a Global Brand’s Evolution
Unravel this brand’s transformation journeyto unlock success through digital intervention.
I AM
A prominent international fashion conglomerate based out of Mumbai with India revenues of over 1500 Cr.
CHALLENGE
The company was looking to streamline and rapidly grow their distribution business by expanding this business vertical across geographies but they were facing issues in building this business in the fragmented market.
SOLUTION
The company chose Intrakraft’s iROMP ecosystem that allowed it to onboard all its distributors and retailers on its single unified interface for multi-layer access and visibility anytime and from anywhere.
Centralize partner data along with Terms of Trade, manage operations across multi-business models (EBOs, MBOs, LFS or others) and map partner behaviour for smarter decision making.
BENEFITS
A single interface for their distribution business by on-boarding all its distributors and retailers onto a unified platform. Know How
A single interface for the entire distribution business, removing data and information flow hurdles. Know How
Company could now independently manage individual brand operations and allow its retail partners to browse the product catalogues and place orders in real time. Know How
Seamlessly manage their on-ground sales team resulting in improved productivity. Know How
Does your Partner Management System let your partners exist, communicate and order with you in real-time? For a circular and integrated partner and order management system,Contact Us!
Know Top 5 Current Day Retail Challenges
What challenged your retail journey fuelled ours!
Get a one-stop access to your retail ecosystem from anywhere, anytime with digital intervention.
Spreadsheet Dependency
More often than not retail stakeholders in India prefer to keep their ‘bahi-khatas’ otherwise known as ledgers in accountancy terminology for their upkeep of day-to-day financial dealings. Traditionally a red-coloured register with white threads to wrap the accounts tight is a preferred choice. However, with the wave of technological advancements, the current favourites remain MS Excel sheets and ERP systems (for the ones that are a wee bit more tech-savvy and open to change than the others). But with an expanding enterprise stems the need for multiple layers of documentation making the upkeep and storage a tedious and strenuous task; especially when the law of the land requires you to preserve data of a minimum of 8 yrs. at any point of time for evaluation. Moreover, with an ever-increasing database physical upkeep becomes rather impossible leading to our next challenge, Scalability.
Scalability
Every entrepreneur eyes expansion, the end to this expansion being undefined. Hence, a healthy network of stakeholders is indispensable. Handling the transactions physically makes scalability the Achilles’ Heel of the entrepreneur’s expansionist endeavours. Adding insult to misery is your presence in multiple geographies. Here is where a unified cloud platform comes handy and tackles the ever-growing bahi-khata or storage (in the case of Excel sheets) expense at bay. However, even with a unified cloud store for all your transactions, one cannot guarantee data segregation bringing us to our third challenge; Data Segregation.
Data Segregation
Single merchandise has multiple facets, for instance, while manufacturing a T-Shirt, from its Neckline to Colour to Size to Length to Print to Buttons to Type, all these details are important and require bundling for efficient production and delivery. Now, imagine all these details times the order received from one Retailer alone! The permutation and combinations can be infinite however physical spreadsheets can’t be. Here is where the need for a database arises that guarantees data listing in an efficient yet comprehensible manner. But can this heterogeneous database be used to provide a unified view of the data from multiple data cubes, databases, or flat files?
Data Integration
Why would data integration be ever perceived as a prerequisite in the retail industry?
In an industry where the primary objective is to efficiently manufacture finished products with minimal wastage while maximizing output at a fairly rewarding margin, how can the integration of its Warehouse, Tech Pack, Billing Cycles, Payments, Dues, Stock Lots data be of any use!
If someone were to say integrated data allows you
real-time visibility into your warehouse’s stock count,
access data that dictates demographic preferences
streamline billing cycle
visibility into changing market trends
dictate consumer behaviour
reduce operational and warehouse expenses
arrive at an optimal decision faster,
would that change the perception entailed so far?
End-to-end visibility into your ecosystem and stakeholders with a clear understanding of your consumers’ psyche is what will justify your business’s ikigai. Although a disruptive proposition, one tends to wonder if all these are technological jargon beyond a common businessman’s reach and understanding leading to us arriving at our fifth challenge: Moving past a mental block that tags Retail Tech as complex.
Mental Block
Above other things, it is the most difficult to resist and overcome comfort, especially comfort born out of years of repetitive practice of a regime. This regime handed down over generations substantiates the efficacy of the system but fails to stand the test of time, especially with increasing competition. With competitors adapting to competitive schemes, one must adapt to the changing times with current day advancements to stand a chance to compete on a level playing field. Moving past this hesitancy to adopt digital retail tech owing to the complexity of its demeanour will decide the scalability, continuity, and seamless functioning of your enterprise. If it’s any motivation, reminding oneself that change is the only constant and your competitors are constantly changing their ways of operation will push you to take that leap of faith.
Seeking answers to shared issues? Contact us at Intrakraft.com to explore solutions tailored to your needs.
