Enterprise resource planning (ERP) systems have been shown to greatly benefit manufacturers and suppliers, including those in the food industry. These companies install ERP to create more efficient workflows and save money, but the solutions also enable these organizations to meet the growing number of federal regulations that require companies to keep a reliable record of the products being shipped in and out of warehouses.
A supermarket cooperative based in New York, Key Food Stores Cooperative, recently announced it would be including more operational information in its ERP to better understand how and where improvements could be made. ERP systems collect data from various business operations - for instance, data collected through a barcode reader - and stores it over a central, consolidated platform.
Key Food said it plans to begin using information derived from its ERP system to identify and recover lost supplier credits, accrued through duplicate payments, improperly returned products or discounts not being received, CPA Practice Advisor reported.
“In today’s competitive retail market, every dollar improves the bottom line, so it’s important to capture every credit that is rightfully ours,” said Key Foods Controller Tom Ricapito, who was quoted in the article.