The retail business in India, sums up to $ 879B while retail loss stand at whopping $ 65B. At each retail business level this may go unnoticeable, but in a long run can be a catastrophe.
Retail business historically never have been an easy path. Products from design to factories for mass production to a point of sales exchange many hands which leads to its own level of complexities and leakages.
We all know a lifespan of a big retailers have been cut short with this weak point. Most of the retail chains have been shutdown due to these unknown leakages which over time becomes a noticeable amount. But by then the business has already takes its toll ready for bankruptcy.
What can be done to stop or turn the wind?
- Avoid over producing or underproducing
- Keep your stores in check in terms of their sales
- Move stocks among stores avoiding consignments in long transit
- System Alerts and make people accountable for delays keeping it audited realtime
- Lastly bring in utmost REALTIME transparency between your enterprise Supply Chain and Sales.
We at WIAN help you achieve this on WIANMaps. Want to learn more, reach us at firstname.lastname@example.org