Oracle Retail is largely recognized as the top ERP suite for the retail industry, but why is this so, and what solutions do they provide? Oracle consistently scored quite well throughout their retail offerings, and they are the best in a lot of aspects. Oracle, the world’s largest commercial software company, provides a plethora of products, including database services, platforms, software, hardware, and more.
One of the main reasons people are perplexed about what Oracle Retail provides is the huge amount of offerings that fall under its umbrella. Oracle merchandising, insights and science, omnichannel, planning and optimization, supply chain, and hardware are the categories into which these products are classified.
They provide software application modules to assist almost any process that retail organizations need to run their business efficiently. The software is primarily used to improve the company’s capacity to manage stock, eliminate waste, improve customer experience, and, most significantly, boost sales and profit.
Retailers log into fresh options!
“Merchandising systems are the heart and lungs of retail. Ensuring that they are modern and flexible is key to keeping pace with change, from supporting customer experiences to reducing costs.” – Lara Livgard, Senior Director Merchandising, Analytics & Enterprise, Oracle Retail
The Merchandise Management System is at the heart of all retail functionality. This component is in charge of Stock keeping unit development, purchase orders, receipt, distribution, replenishment, monitoring, and control. The most important is the Merchandise Planning System for the planning and budgeting component; the financial package for balancing budgets and keeping losses in check; the Warehouse system for controlling inventory flows from vendors to stores; and data warehousing and mining systems for the retail system’s brain.
Most retailers know that businesses must reform to remain competitive and relevant, but some are skeptical of what or how to change. Many people seem to believe that merchandising operations should be at the top of their priority list. JDA’s MMS is a widely-used comprehensive omnichannel solution known for its built-in functionalities, but how about providing today’s retail operations support? Stability? Pricing strategies? And there comes its business and IT challenges!
It’s true that only by altering the basic operations, retailers can position themselves for future growth and the flexibility to adapt to new customer journeys. According to industry analysts, the requirement for agility and speed throughout the organization is the key reason retailers are modernizing and, moving to Oracle Retail.
Curious about who replaced JDA’s MMS and is reaping the benefits of Oracle Retail Merchandise?
We are about to hit the climax but before that, we must how Oracle Retail Merchandising benefits retailers! Aspire’s Oracle Retail Merchandise Operations Management allows retailers to establish a solid platform for growth and innovation which seamlessly executes core retail operations across channels, countries, and business models. Unique Capabilities of the Oracle Retail Merchandise Operations Management:
- Establishes a platform for growth
- Provides a foundation for commerce anywhere
- Leverages a flexible, value-driven implementation approach
- Provides a single source of truth for the entire enterprise
For retailers aiming to meet the demands of today’s multifaceted consumer journeys, the Oracle Retail solution provides key competitive differentiators:
- For retailers, 90 % of process flows match out-of-the-box features. No adaptations or add-on solutions are required for retailers in the essential or fashion industries.
- Dashboards based on personas provide users with real-time information that emphasizes actionable or often monitored actions. The whole user interface is centered on user activity, with different ways to view, filter, and act on anything on their dashboard.
- Provides a unified platform for retail, franchise, and wholesale operations.
- Supports Omnichannel customer journeys like BOPIS, ship from WH, ship from store, Direct Ship, and the corresponding return journeys.
- Robust automated invoice matching engine that automatically resolves invoices based on retailer-defined rules.
- Heavy investment in SaaS, as well as integration throughout the retail business (including cloud financials), offers on-premise customers a path to the cloud. Has a long-term product strategy that is driven by market needs rather than customer funding.
- Integration points are based on standards, making it simple to transfer data into and out of Merchandising for goods, orders, pricing, and more. Integration with third-party systems is now a setting rather than customization.
Retailers have been able to significantly reduce the time required to set up operations in new countries and manage several regions on a single instance, cutting maintenance costs and increasing operational consistency. Also, a two-way mechanism via which Oracle Retail Merchandising System handles the number of changes received from stores, warehouses, online channels, suppliers, and so on.
There are a variety of tools available to help with upgrades, including upgrade scripts for each major release, a full upgrade toolkit, data conversion tools, and more. All of these factors lead to decreased implementation costs, less risk, and faster delivery of business value.
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