SAP for Retail: Business Benefits
Today, retailers across the globe are reaping the benefits of SAP for Retail, including:
- Increased sales - With customer relationship management and business warehouse capabilities, basket analysis helps you maximize the number and frequency of customer visits, and increase spend per visit.
- Increased profits - With price optimization across the product life cycle, including regular prices, promotional prices, and clearance or markdown prices, you can increase profits while building customer loyalty and maintaining a desired competitive position.
- Reduced cost of goods - You can tighten supplier management and reduce the cost of goods with the integrated vendor scorecard, reporting, and vendor portal solution of SAP for Retail.
- Reduced labor costs - You can reduce labor costs and improve productivity with human capital and workforce management solutions, which provide centralized control of store personnel.
- Better product flow-through - Merchandise and assortment planning, forecasting, and replenishment solutions ensure that the right products are planned, procured, allocated, replenished, and reordered to maximize product flow-through and inventory productivity.
- Increased productivity and improved decision-making - The underlying workflow management tools in all SAP for Retail solutions make it easier to focus on the important parts of the job by automating basic, repetitive tasks and highlighting only exceptions for action.
- Simplified operating processes and common standards - SAP for Retail uses one integrated database to ensure one version of the truth and support the companywide adoption of standard best practices.
- Lower total cost of ownership - SAP for Retail integrated solutions reduce total cost of ownership by providing best-of-breed business-process support right out of the box, along with adherence to retail industry standards (ARTS and VICS) and IT industry standards (XML).
- Sarbanes-Oxley compliance - SAP's financial solution, the market leader worldwide, ensures that you will be able to integrate your financials seamlessly - even if you have made a number of acquisitions, or operate in different countries and across different channels. For U.S. companies, it ensures compliance with Sarbanes-Oxley legislation.
- Reconciliation of financial, merchandise, and assortment plans - By using one integrated database to develop all plans, you can achieve plan reconciliation and ensure improved merchandise offers for the customer.
- Improved efficiency - You and your partners can operate more profitably by using embedded workflow management tools, ensuring that corrective action is taken before critical situations become crises.