Evaluating the role of ERP systems in streamlining order management and inventory optimization for U.S. retailers
University of Wisconsin, Madison, United States of America.
Review Article
World Journal of Advanced Research and Reviews, 2024, 22(03), 2286-2294
Publication history:
Received on 03 May 2024; revised on 25 June 2024; accepted on 27 June 2024
Abstract:
The retail industry in the United States is undergoing rapid transformation, driven by increased consumer demands, expanding e-commerce platforms, and complex global supply chains. As retailers strive to maintain competitiveness, Enterprise Resource Planning (ERP) systems have emerged as essential tools for optimizing key operational processes, particularly in order management and inventory control. This paper explores the significant role of ERP systems in improving operational efficiency and customer satisfaction in U.S. retail operations. By integrating sales, inventory, and supply chain data into a unified platform, ERP systems enable retailers to gain real-time insights into product availability, order fulfillment, and demand forecasting. The study examines the impact of ERP systems on streamlining order management, minimizing stockouts, optimizing inventory levels, and enhancing decision-making through real-time data analytics. Additionally, the research highlights how U.S. retailers, such as Walmart, Target, Best Buy, Home Depot, and Costco, have successfully leveraged ERP systems to improve their operational efficiency, reduce costs, and boost customer satisfaction. However, the paper also addresses the challenges associated with ERP implementation, including data integration, system complexity, and upfront costs. Ultimately, the findings underscore the importance of ERP systems as strategic assets for U.S. retailers to adapt to the evolving retail landscape and maintain a competitive edge.
Keywords:
Enterprise Resource Planning (ERP) Systems; Order Management inventory Optimization; Retail Operations; Real-Time Data Analytics; Customer Satisfaction
Full text article in PDF:
Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0