If you started a retail operation would you focus your ERP on PLM functionality or rely on VMI business model?
Yes PLM is more of a manufacturing model, but im using it here to mean retailer controlled inventory replenishment
By the way Tracey, ERP is extremely important to the efficiency of Mid to Large retail and manufacturing ogranizations. Regardless of how efficient a manager is, there is no way they can over see the production shipment and selling of a million items without an efficient IT infrastructure
let alone provide back useful information to other Business Functions (like forecasting, billing and accounting) without good systems
Too little information,
What type of retail ?
A convenience store ?
Auto Parts ?
Electronics ?
Factors come into play such as shelf life either due to perish-ability or as with electronics, becoming out dated.
Also you need to consider if the business is going to pay for the inventory or pay a flooring fee.
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Huh?
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Flip a coin
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PLM = product life-cycle management
VMI = vendor managed inventory
ERP = ???
I think I’d go with VMI; it uses more symbiosis than PLM, and that works out better for everyone.
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Enterprise resource planning solutions are a pointless waste of money. It’s designed for companies with no decent management structure in the first place and no integration between its warehouse, its call center, its partners, its accounting and its marketing department, in the same way CRM is just modern business-speak for "not treating your customers like shlt."
So…do you want a real answer? ‘Cause I can give you one. It’ll be long, though. And boring.
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I would start an MLM.
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You probably want ‘economics’ for this, not ‘gender and women’s studies.’
That and the question’s a bit vague. I would need to know more (a lot more) about the specific nature of your ‘retail operation’ before you would know whether or not you would have the sheer size of infrastructure necessary to effect control over your products from start to finish, or whether you would want to leverage the establishment of vendors.
Are you trying to start a retail business? If so, what in, and what kind of resources do you have going into it?
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Too little information,
What type of retail ?
A convenience store ?
Auto Parts ?
Electronics ?
Factors come into play such as shelf life either due to perish-ability or as with electronics, becoming out dated.
Also you need to consider if the business is going to pay for the inventory or pay a flooring fee.
References :