How Can Retail MMS Benefit Your E-commerce Business?

The Retail group offers a Merchandise Management System (MMS) to enable retailers to respond to sudden market shifts and meet customer expectations quickly. The application runs of IBMi (AS/400 or iSeries). The application is used by thousands of retailers worldwide to increase sales, improve profit margins, and increase overall efficiency. The software has powerful capabilities that enable it to handle challenging business operations like inventory control, allocation, vendor management, customer orders, and more. Furthermore, Retail MMS comes with various applications that can help e-commerce retailers in their business. Let’s have a look at the blog for a better understanding.

Retail software group is the global leader in helping manufacturers, retailers, and wholesale distributors in more than 60 countries. On average, the Retail group helps around 5,500 retailers by advancing their Retail portfolios and simplifying their supply-demand solutions. The merchandise management system is widely used and well known among industries for its stability, built-in capabilities, and its promotion features. Furthermore, the software is also known for its ability to simulate pricing strategies and make the right pricing decisions before implementation.

Retail MMS was originally developed in 1988 for System/38, and it is written in RPG ILE language. Also, the data warehouse is the must-have technology for the merchandise management system.

The Retail MMS Application Suite Includes:

Inventory Control & Procurement
Buyer’s Workbench
Vendor Management
Price Management
Financial Control
Distribution Centre Management
Merchandise Receiving, Allocation & Replenishment
Promotional Management

Inventory Control & Procurement

The inventory control & procurement process includes purchasing & inventory management. The module is also used to perform necessary allocation and create purchase orders in the inventory. Retail MMS makes broad use of inventory transactions, and every activity can be monitored closely.

Purchase order pickups from single or multiple locations can be scheduled in advance. Moreover, it supports physical inventory count in stores.

Stock balances can be monitored with Retail MMS, and specific transactions like stock balancing, managing promotional pricing, order creation, and many more tasks can be done through MMS. Apart from this, flash sales reporting and other 20+ categories can be managed online through Retail.

Buyer’s Workbench

The Buyer’s Workbench is also a Retail MMS module that includes a series of functions to address the purchasing and receiving related tasks. The process consists of color and size checks of the material, pre-packs, material received, item maintenance, and SKUs.

The physical stores and distribution centres support the free movement of merchandise between locations.

The merchandise management system tracks sales and inventory by color, size, and dimension. Moreover, these can be analyzed in aggregate or individually.

Vendor Management

The vendor management module in Retail MMS is used to maintain vendors as a part of the account payable process. Furthermore, the module supports an advanced level of allowances and rebates to assist in miscellaneous costing management, such as freight.

Vendor compliance and receipts are checked and tracked for damages, and the process also includes invoice matching.

Price Management

The merchandise management system includes cost management policies, and it works parallel with other modules. Companies host events to update the regular price at POS and track mark-ups throughout the course. The price of an item can be managed at stores or warehouses or at a zonal level.