Retail ERP: Major Products & Players
Since the birth of retail ERP software, there have been many horror stories of failed implementations and poor ROI. Sports retailer Nike famously made a $400 million investment in order to integrate ERP, supply chain management and CRM into one software package. Failures during implementation led to a $100 million loss of sales, a 20% stock dip and an assortment of lawsuits. Another major retailer to fall at the ERP hurdle were Hersheys. The confectionery retailer’s failed order-taking and distribution service prevented $100 million sales during the busy pre-halloween period. The announcement of the ERP system problem also led to an 8% drop in share value.
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The role of retail ERP
Retail ERP software is crucial to maximising profits because of it’s role in stock and supply management. Matching stock to demand is a key factor in any successful retail business highlighting the importance of an efficient ERP system. According to the Centre for Economics and Business Research (CEBR) the lack of an appropriate ERP system cost retailers $240 million over the 2012 christmas period.
Having seen the impact that selection and implementation of ERP can have on retail success, you may be wondering how you can make that choice for your business. But don’t worry, this guide is here to help with a rundown of the major retail ERP vendors and products.
Vendors and retail ERP systems
Many major vendors of ERP software offer retail ERP solutions as part of a broad range of target industries. Microsoft offer ERP software for the retail industry in the form of their widely popular Microsoft Dynamics ERP software. This ERP software is targeted at enterprise and midsize retailers and offers solutions typical of retail ERP systems including management, store operations, merchandising and financials. Another major vendor of retail ERP software is Netsuite. Netsuite target retailers and e-tailers interested in cloud-based ERP systems. Other major vendors offering retail ERP systems include Accumatica, Infor and Epicor.
Alongside the popular, all-encompassing retail ERP products, many ERP vendors offer tailored solutions to the retail industry or specific sub-industries within retail. For apparel retailers, American Software and CGS provide ERP in the form of NGC ERP software and BlueCherry software respectively. InStyle also provides retail ERP systems for the apparel market but the company also targets this software at retailers of home furnishings.
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