Ginni Systems Ltd
We are Retail ERP and POS (point of sales) software solution provider company catering to entire Retail Value chain from Production to Retail.
Why Your Business Needs an Inventory Management Software and Retail Point of Sale Software? by Mohit Singh. By Mohit Singh Software Expert Before starting, what is an inventory?
An inventory is defined as a complete list of goods in stock. For managers and retailers of all sizes of businesses, managing the inventory on different levels and tracking the goods throughout the supply chain is a very tiring task. In order to overcome this difficulty inventory management, and in consequence the inventory management software, was introduced. Improving a Retail Store Business with POS System. Improving a Retail Store Business with POS System Retail involves the process of selling goods or services to customers by means of multiple distribution channels in order to earn a profit.
GINESYS Blog – How GST Will Benefit Retailers. InShare14 Good and Services Tax (GST) is a comprehensive tax which is to be levied on manufacturing, sale and consumption of goods and service at PAN India level.
It’s an effort to do away with various indirect taxes or double taxation, thus opening up doors for common market and removing state boundaries. Introduction to GST emerges mainly because of extremely complex tax rules in India. It aims to completely eliminate double taxation. It fully integrates taxation at national and state level and doesn’t discriminate between Goods and Services. Taking into the considerations of retail industry, GST will be a boon to the industry at different stages of business. The advantages for retailers are the following: Single Tax- With its implementation, the state and central government will come together for a single tax regime thereby avoiding multiple state and central taxes. GINESYS Blog – Excise Duty to impact the reeling garment industry. InShare6 The ready made garment industry has been imposed with two percent excise duty in the budget 2016-2017.
The duty which is applicable on garments over Rs 1000 will possibly lead to price rise of about 3-4 percent, according to the sources. The finance minister decided to levy duty on all garments selling over Rs 1000 if input tax credit is not claimed, otherwise 12.5 percent with input tax credit. According to the experts, this move will impact the branded garment industry as almost all the branded clothes are priced over Rs 1000. Branded clothing forms almost half the share of organized retail so this tax will sure have an adverse effect. People from the industry have raised their apprehension that this will cause undue hassles in maintaining records. GINESYS Blog – Inter-Store Stock Transfer- Balancing inventory between stores.
InShare1 It’s often the case in retailing that merchandise is required at one store, but a different location has it.
It can be a tricky situation because customers who want instant gratification may not wait and end up buying the same product from a competitor. Depending on its value and availability, it might be worth the effort to transfer the stock from a different store, thereby avoiding any sales loss. While such scenarios may not have a huge impact, in the event of peak season sale, unavailability of stocks could result in considerable amount of sale loss. Ginesys POS software is equipped with store-to-store transfer feature, which allows instant stock transfer from one store to another, avoiding sales loss and boosting revenue. Some of the benefits of store to store transfer are: Sales- Even if the stock is unavailable at one store, sales isnt lost.Customer Satisfaction- With avoiding situations of out of stock inventory level, customers don’t return empty handed. Customer Management. Customer Loyalty Customer loyalty needs the following ingredients: customer data collection, data analytics and finally rewarding loyal customers.
Of course we need to step up and give the customer an overall better experience and experience management has become a new bye-word for the super-successful retailers. Ginesys has an inbuilt customer loyalty module as well as supporting outsourcing of other services like Analytics and Promotions via partners. Our current loyalty partner is EasyRewardz. Fraud-proof loyalty redemptions. Retail ERP Finance. Finance A good sign of being an ‘organized retailer’ is maintaining accounts in the retail ERP.
Retail software typically does not have integrated accounts and if it does then the integration is too costly. Sometimes the accounting is too basic. Ginesys account is used by a range of companies with turnover from Rs. 10 Cr to 800 Cr. It is a fully integrated end-to-end system with budget allocations and automatic posting to accounts for every transaction and automatic roll-up. Retail ERP Software. Retail Inventory Management System Software - Ginesys.in. Inventory It is a tedious task for manufacturers and retailers of all types and sizes to effectively manage the inventory levels and track goods throughout the supply chain.
Inventory Management is the nucleus of supply chain excellence in the retail world and is the process of overseeing the constant flow of units into and out of an existing inventory. Inventory often accounts for the highest proportion of the working capital as raw material, WIP and finished goods. Inventory management goes hand-in-glove with demand forecasting and there are multiple benefits when you implement the inventory management software. Retail Inventory require flexibilitySupport for OEM / EN barcodesMultiple attributes per itemPOS Multiple RSP tracking against single SKU.Multi-level inventory hierarchyImages for the item, article or category.