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Know why some businesses survived the pandemic shutdown and how!
A warehouse with heaps of unaccounted merchandise, in transit deliveries uncertain of their GRNs (Goods Received Note), improbable POs, scores of unutilized accessories and heaps of cargo lying unclaimed;
if you recognize these symptoms and have borne the surmounting expense incurred out of an unanticipated pandemic, then you have been between a rock and a hard place.
Get digitized visibility into your product, inventory, warehouse, partners, orders, and sales; all on a unified platform.
When survival becomes more important than the means to survival, a paradox is born. A paradox that could have been catered easily to in the absence of a life-threatening pandemic at large. Having to choose between one’s life and one’s trade wouldn’t have been as challenging as shouldering the right end of your balance sheet. So, if you have been at the receiving end of this predicament then you have unwarranted digitization for a hype, a hype that otherwise could have insured your continuity for the very least bit to say.
Digitization transcends the traditional brick and mortar concept eliminating the physical presence of data and stakeholders alike. This essentially guarantees transactions irrespective of place, time, and geography. It facilitates an up-to-date merchandise count, maintains minimum stock quantity for an optimal demand and supply equilibrium, assured GRNs, estimation of plausible POs, and sustainable resource utilization while reducing wastage paving way for an experience, circular economy, and a sustainable business leadership. This is where digitization of non-digital things to their digital equivalent gains substance. Converting a single merchandise from a red coloured-10, collored-01, Medium sized-02, Three buttoned-03, Half-sleeved-02 T-shirt to 10-01-02-03-02 produces the 3S’s of any Enterprise: Sustainable, Scalable, and Storable!
In the face of calamity, people ascertained the importance of a medium other than spreadsheets and Excel sheets that would navigate business transactions in a solitary environment on a single unified platform, a gap filled by retail tech.
Retail tech in layman’s terms is the use of computer-based applications to store, segregate, integrate and streamline transactions replacing the otherwise paper-backed industry. One may ask what difference does an online data shelf make in comparison to the traditionally accepted bookkeeping methods when both consume space and demand financial upkeeping?
Physical shelves occupy both space and cost money as against digital shelves which cost money but occupy space only as much as a computer. Moreover, with expanding operations digital shelves offer infinite expansion but the same cannot be guaranteed for physical space. Furthermore, digital cupboards allow multi-layered storage with dedicated compartments for multifarious layers of the retail industry. Hence it is safe to opine, that these digital cupboards offer more flexibility and versatility than physical cupboards at the same cost or sometimes even lesser.
Into post COVID era, the retail industry is still reeling with the pressure to fill orders, refresh inventory, discount outdated stock, manage returns, and fill their revenue cracks; problems that could have been easily averted with automation. But as the saying goes better late than never, post pandemic trend has seen a steep inclination to digitalized enterprising with more and more businesses adopting the binary language of computers to tackle the uncertainty of human lives.
Transform your retail business for the digital age. Contact us at Intrakraft.com to start your digitization transformation.
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