| | JULY 201619Consultants ReviewCXO INSIGHTSImportance of MDM- Master Data Management in Supply Chain Management & Multi Brand Retail BusinessBy Shailendra Gupta, Director- Planning & Engineering, DelhiveryDelhivery brings cutting-edge commerce technology and pan-India reach to scale multi-channel retail operations rapidly and cost efficiently. The Delhivery Seller Toolkit allows retailers to pick and choose from various modules and manage all sales channels: online, mobile store-fronts and in-store sales.ndian retail market is getting strengthened day by day. Sales volumes are increasing, distribution networks are developing and retailers are trying their best to reach out to customers and give them better assortments and prices. If we compare retail with kirana stores it gives better merchandise opportunities to customers as retailer negotiates much better with suppliers to get better margins and pass on to customers maximum possible. If we see our festival season and special occasions, all the news papers are filled with lots of promotions. Every retailer gives price discounts & different offers to the customers and encouraging them to come and shop in our stores, you will surely get best prices. In retail MDM- Master Data Management plays a vital role. The products which are moving first from suppliers manufacturing unit to his warehouse, further transported to retailers warehouse and finally to stores where customer buy the product. In MDM it is required to define all the characters correctly in the system (like product description, barcode, vendor pack qty., warehouse pack qty., cold chain requirements, replenishment methods, shelf life of the product, size, color, MRP and so on). If it is defined correctly, product can be moved faster and available on the shelf on time for sale. There are different benefits of MDM: · Increase in Fill Rate and In-stock which is the back born of retail to lead the sale· Proper storage in warehouse and store· Faster movement of goods · Proper transportation (cold chain etc.)· Efficiency in distribution channels · Accurate financial data· Faster payment for suppliers· Real-time analytics· Smarter operationsNow question comes, what we need to do to have our MDM- Master Data Management accurate? 1. EDI- Electronic Data Interchange: In today's high-paced business environment, no one can afford the delays. We need to have faster solutions and processes. Now we have different technology options available to make it faster and accurate. EDI- Electronic Data Interchange is one of the option which gives enormous benefits to the retail business : Cost Savings: · Reduction of employee hours involved in creation and handling of per documentsI
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