A retail chain differs from other industries by nature of its number of locations. A conventional manufacturing industry has a production at a limited number of locations and sales being handled from a few more. However, a retail industry has sales from a large number of locations. If it is in the food and beverage business, you could say that its production is also being done at all locations. This means that material handling, production, sales and distribution as well as finance transactions are being conducted at all their stores. Each store requires an inventory control system, a Point of Sales system and an accounting system (maybe also a production system).

Major Procurement is conducted at the HO, Material Receipt is done at the Stores and Bill Passing and Bank Payments conducted at the HO. Some extent of local procurement is also sometimes being done at the Stores. Sales is an activity which is being done completely at the stores. Most of these activites are handled through a POS system. However, while a POS system handles sales satisfactorily, it is generally not geared up to manage inventory, consumption or requisitions for material.

Requirements of a Retail organization

1. Reconciling Good Receipts at multiple locations with supplier invoice
2. Reconciliation of cash and daily sales at each store
3. Stock position at each store
4. List of slow/ fast/ non moving items
5. Requisitions for items
6. Daily sales figures at each outlet
7. Sales v/s consumption at each outlet( for retail food industry)
8. Cash position at each outlet
9. Daily/weekly/monthly expenses at each store
10. Tax details at each outlet
11. Multiple pricing based on location
12. Tracking of sales returns
13. Implementation of special discounts and promotion schemes
14. Shelf life/ expiry date of perishable goods
15. Inventory planning based on reorder level
16. Multiple units of measurement

Reckoner provides a practical mix of online and offline connectivity and synchronization of databases. It ensures that local invoicing is managed offline while all Good Receipts, financial transactions at each store are conducted onto the central database. Being a multi company enterprise solution, Reckoner treats each store as a separate unit and storage location and can provide profitability and even independent profit and loss statements for each store. Reckoner’s retail application integrates seamlessly with the main central application ensuring end of shift/ end of day synchronization of data. A powerful definition system allows a central control over all SKU codes across all stores as well as all other master data. In addition you can define new promotion schemes or new discount schemes in the central system and these would be automatically applicable at each store. Powerful analytical tools and MIS reports assist you in assessing store performance and profitability.

With Reckoner’ s, you will have the most effective business tool for your multi location retail enterprise. To find out more, please send your queries to info@ascomp.com