Our client is a pioneer in the food and grocery retail market in India, having a national footprint. The omnichannel retailer caters to consumers via its expansive network of supermarkets, hypermarkets, and e-grocery platforms. The company needed to drive the following outcomes to achieve smooth and timely facilitation of supply at stores:
- Accurate communication of demand needs to the supply hubs.
- A seamless interface with the finance function to ensure timely payments to suppliers.
- Syncing every entity in the supply chain in near real-time to achieve storage space, inventory optimization, and on-time delivery goals.
The client was looking to target sizable cost savings and increased operational efficiencies by leveraging a custom-designed, state-of-art bespoke supply chain logistics platform by Yodaplus Technologies.
Core Business Challenge
In the era of accelerated digital transformation, the company continued to use a combination of a legacy Retail Management System (RMS) and manual execution of spreadsheets to track demand and inventory supply across thousands of supply chain entities like stores, distribution centers, and collection centers.
This approach resulted in a domino effect of events that lowered consumer and supplier trust and impacted business profitability.
Key challenges included:
- Usage of duplicate master and metadata across various entities
- Delay in receiving and sharing critical information due to the batch mode processing approach of the RMS. This resulted in improper planning, leading to monetary losses due to inventory wastage.
- Since the finance function was not seamlessly linked to the RMS, this resulted in delayed payments to suppliers. In turn, the business experienced inventory shortages of critical items. This led to an increase in customer dissatisfaction.
- The use of outdated RMS technology led to frequent system breakdowns. The company was forced to invest increased effort, time, and financial resources in maintenance activities.
Yodaplus Technologies came on board as a development and implementation partner to help accelerate digital transformation to our retail client's supply chain processes. The first step was to educate the client on industry standards and the transformative potential of digitized reference data solutions to help meet the rising expectations of today's retail consumers. Based on the client's unique challenges, Yodaplus delivered a bespoke supply chain logistics platform solution, which enables the client to access clean, timely item demand and inventory supply data from multiple sources simultaneously.
- The solution offers a single, reliable, consistent source of demand and supply inventory delivered via a resilient and scalable technology platform.
- The solution adheres to the six data quality dimensions: accuracy, completeness, consistency, timeliness, validity, and uniqueness.
- The solution is currently deployed across 900+ stores, 13 FNV DCs, 18 Dry DCs, and 25 CCs across India.
- The platform enables real-time execution of critical supply chain functions such as Store Invoicing, GRN Generation, Proration and TO generation, PO generation, 3rd Party Audit, and Auctions.
- The new system enables C-suite executives to get a 360-degree view of inventory, transactional information, and accurate business analytics.
Yodaplus' one-stop-shop solution enables users of the platform to access critical data promptly and ensure that the supply chain is never disrupted.
We delivered a best-of-breed technology and software stack that enhanced accountability, efficiency, transparency, processing speed, and smooth scalability of operations.
The new platform delivers near real-time data sharing and execution of critical supply chain processes, which trigger efficient, accurate, and informed decision-making among various stakeholders, who can access it anytime, from anywhere.
Duplication and redundancies are eliminated from the system.
Retail chains must keep innovating to build a competitive edge. The new platform is designed to facilitate ongoing innovation, scale operations, and accelerate the pace and quality of innovation.