Retail ERP

Don’t settle for generic ERP limitations

Choose a Retail ERP specifically designed to address the unique challenges of your omnichannel retail business and operations.

Retail ERP

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Dive into Priority’s innovative and extendible Retail ERP

Discover how Priority’s powerful retail capabilities make it a unique offering that can improve your daily operations how you can enhance it with capabilities to create a true customers’ omnichannel shopping experience.

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Master your end-to-end retail business

Specifically designed to address the unique challenges of retail operations, Priority cloud ERP for retail provides the tools needed to run an efficient and innovative omnichannel business.

Priority also offers a full-blown retail management system (RMS) that is built on the Priority ERP platform. It is the only modular solution of its kind for the retail industry that provides a single system, inclusive of ERP, unified commerce and POS products.

The key features of ERP for retail

Multi-location inventory management

Omnichannel order management

Retail focused replenishment

Retail procurement

Retail financial management

Plan, monitor, and control inventory levels for omnichannel retailing across various stores and warehouses to optimize stock levels, reduce stock outs and over-stocking. 

Continuously ensure customer demand is met while improving inventory operations efficiency and reducing overall COGS.

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Efficiently process and fulfill orders across various sales channels (e.g., online, in-store, mobile) to ensure timely delivery and customer satisfaction with multiple fulfillment options including BOPIS, Click and collect, B2B and cross-docking, and more.

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Automatically order and restock inventory to maintain optimal stock levels across all sales channels and ensure inventory availability and efficiency.

Meet customer demand while dealing with complex product lines, seasonal demand, and fast changing trends and multiple locations. 

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Meet fluctuating customer demands and seasonal trends with real-time data, orders, forecasts, inventory balances, and lead time to perform efficient procurement planning and execution.

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Gain complete financial control with retail-specific ERP functionality.

Manage finances across locations and sales channels with powerful reporting & analytics for informed decision-making.

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Retail ERP that works for you

Smarter operations across multiple locations

Central supply chain management

Financial control in a high pace changing industry

With Priority you will enjoy:

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Cloud, Full SaaS

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Modular all-in-one platfrom

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Visibility and insights

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Open architecture

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Mobile anywhere

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Enhanced AI & automation

FAQs

What is a Retail ERP?

Retail ERP is software designed to streamline operations specific to the retail industry. It unifies functions like inventory management, sales, human resources, customer relationship management, financial accounting, and many others into a single system to improve efficiency, reduce costs, and enhance decision-making.

It is particularly critical in retail environments shaped by seasonality challenges and fast-changing trends and customer preferences, helping businesses stay agile and responsive, adjust operations dynamically, and ensure smooth and efficient operations.

With Retail ERP, businesses can manage multichannel operations, automate repetitive tasks, and gain valuable insights through centralized data analytics.

What is the difference between a Retail ERP and a generic ERP?

Traditional ERP systems are designed as general-purpose solutions that centralize business operations across diverse industries, focusing on broad modules like finance, HR, and procurement, while Retail ERP is purpose-built to streamline complex, retail-specific workflows to address the unique demands of retail operations, like integrating omnichannel inventory management functionalities, real-time POS synchronization, demand forecasting, and dynamic pricing algorithms.

Unlike traditional ERP systems that often need serious customization to handle the unique demands of retail, Retail ERP is designed specifically for the fast-paced, customer-focused nature of the industry. It’s built to effortlessly scale during seasonal peaks or off-peaks and adapt quickly to shifting market trends.

What are the key features of retail-specific ERP solutions?

The key features that are important for retail specific ERPS are: Ongoing inventory management, POS integration, omnichannel CRM, omnichannel order management, retail specific replenishment, enhanced product catalog for fashion, shipping and delivery integration, multichannel and e-commerce integration, real-time sales data visibility, reporting and analytics, and much more.

How is ERP used in Retail companies?

In retail companies, ERP systems manage and streamline business operations. They are designed to provide a comprehensive, integrated view of the entire retail business, from supply chain management to sales and customer management. By providing real-time visibility into key business metrics, such as inventory levels, sales performance, and customer behavior, ERP systems help retailers make data-driven decisions to improve efficiency, reduce costs, and enhance the customer experience. Additionally, ERP systems can help retailers manage multiple sales channels, such as eCommerce platforms, marketplaces, and social media platforms, and provide a seamless shopping experience across all channels. Finally, ERP systems can help retailers gain a competitive edge in the retail industry by integrating all business functions into a single platform.

What are the key modules for Retail companies?

ERP systems for retail companies offer various modules to streamline and manage different aspects of the business. Inventory management is a critical module that tracks inventory levels, optimizes stock levels, and automates inventory replenishment, reducing stockouts and overstocks. The sales and customer management module tracks orders, manages customer information, and handles customer service to ensure a seamless customer experience. The supply chain management module manages the supply chain by tracking suppliers, procurement, logistics, and warehousing, ensuring the timely delivery of goods. The financial management module provides tools to manage financial processes such as accounts payable, accounts receivable, and financial reporting, providing better financial visibility and control. The matrix items module provides intelligent solution for managing and maintaining inventory on a two-dimensional matrix foundation, such as color and size. Finally, business intelligence and analytics modules offer real-time analytics and reporting tools to enable retailers to make data-driven decisions about inventory, pricing, promotions, and customer engagement.
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