Let the Passion Continue
Follow us here to learn about “Elements”, by Retailmatics ©
The What and Why of Retailmatics‘ New Merchandising Solution
1,000+ Retailers
The result of 45+ years of input from approximately 1,000+ retailers, consultants and vendors.
Previous Successes
Two previous commercially successful Retail ERP’s have brought us to this point.
We are still building on those accomplishments.
Our Breadth of Experience
We know retail including: Apparel, sporting goods, Department Stores, electronics, books, grocery and more.
A Product Overview
Some of the key modules that make up Elements©
Styles, Styles, Styles
Analysis of merchandise activity is the key component of the system. And at the core of that is the Style. The style is built up from SKU level. A style contains unlimited number of SKU’s, which are a set of Colours, Sizes, and Dimensions, with data generated down to the location level.
Elements has a very powerful Style Book, which presents the details of all activity and current position of each style
Purchasing and Receiving
The process begins with the generation of a Vendor PO. It can then be tracked, reminders and alerts can be set. Orders are maintained by color, size and dimension, or pre-defined case packs can be used. Security is available by Category of merchandise, buyer code and user code. An optional PO approval request can beset up.
Allocation of Merchandise
Create allocations using redefined store matrices, which can then be manipulated by the user with automated levelling algorithms. Allocations are either pre or post.
Interstore Transfers
Head office requests, and store to store requests are supported. The system tracks and adjusts inventory and intransitive quantities at each step. Outstanding transfer documents are reported after a predefined time period.
Markdowns and Markups
Prices can be changed at the style, or style location level. System inventory levels are used to calculate and post changes to inventory dollar values. The system will also report Markdown vs non markdown sales separately
Managing Basic Stock Items
There are some items for which a retailer should never be out of stock. These are basic items, and Elements provides an automated procedure for ensuring they are always in stock. Based on sales projections, current stock, and current orders., the replenishment routines will calculate need, generate a PO, and up date the Purchasing system.
Invoice Matching
Vendor receipts (as well as RTV’s) will result in an invoice generated by the vendor. The system will eliminate much of the tedious work of retrieving the PO and matching each line item against the receipt and Invoice. The system will report on invoices to be paid and maintain any outstanding amounts =not invoiced. Over billings will be reported.
Landed Cost Calculations
When an item is ordered, it will have an original cost. The item will also have an average cost affected by vendor changes to that cost. However, there are Landed Cost elements that need to be tracked, (transport, insurance, insurance, etc) that will have a bearing on profitability. These costs are estimated at receipt time, and finalized at the receipt of laded cost item invoices.
Physical Inventory Counts
Periodically Retailer must count their stock. This is a legal obligation, as will as a necessary task to correct and errors in the perpetual counts. Stock counts can be set for the entire store or for a category or single style. Shrink reports are generated and financial stock values updated
Dashboards, Queries and Reporting
It goes without saying, that reporting is a crucial element of a retail operation. These include exception reports, analytics, transaction reports, operational reports and analytical dashboards. Some are attached in this link, but there are too many to show everything.
They say no one achieves anything on their own. Success only comes with help from others.I have always he’d the belief that we are the sum of our experiences, and the relationships we’ve built.
I have been able to succeed only because of the people who have taught me and shared with me: my clients, my work colleagues, my bosses and my staff, consultants, competitors, my critics and my cheering section, mentors, professional heroes, hardware vendors, partners and of course my own mistakes.
To all of you, and you know who you are, I offer you my eternal thanks
I hope this current project adequately reflects all of your gifts
Frequently Asked Questions
For whom is this software best suited?
Although it was designed to handle just about any time of retailer, the sweet spot is the apparel merchant, or any store with merchandise at the cold and size level.
That said, any merchant that tracks inventory by the individual piece (jewelry, items with serial numbers or fur products), will be more of a challenge
How is this software priced?
It is offered on a subscription basis, with the number of locations factored into the pricing.
What is the technology behind it?
The software runs on PHP 8.1, and can use any of the major Database systems. It is browser based, so runs in the cloud, on desktop or mobile devices.
What Language is the UI?
The system currently runs in English, but can “support” over 20 languages. ALL prompts and screen headings are kept in system files, so converting for any new language can be done rapidly. French will be the first language that is added, with others released as demand requires.