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If it seems like you’ve heard the term “SoMoClo” bandied about lately, your instincts are correct. As social, mobile, and cloud technologies increase their part in our everyday lives, SoMoClo has attained a momentum that promises to change the way everyone does business. As Chris Heuer, specialist leader at Deloitte
Consulting, comments in a recent post
, SoMoClo is “our new socioeconomic infrastructure.”
The AberdeenGroup defines SoMoClo as the convergence of social, mobile, and cloud IT infrastructure that provides the opportunity for radical business transformation and resource realignment. In the introduction
to an Aberdeen “Analyst Insight,” research director Andrew Borg explains:
“The notion of a client in the classic client/server model is dissolving: the endpoint is now the user, whose identity, social activity, and access permissions are managed in the cloud. The customer, the enterprise knowledge worker, and the channel partner may all be presumed mobile; that is, tied to neither a specific location nor device. This same model applies equally well to machine-to-machine (M2M) and machine-to-human (M2H) communications as well. This transformation offers competitive differentiation through process efficiency and streamlined workflow. … The SoMoClo framework is a roadmap for how to get there—to a unified social, mobile and cloud strategy—from here—the current position of your IT infrastructure along the continuum from disparate to fully converged.”
The fact is that SoMoClo is driving behaviors and decision making, in the workplace as well as the personal space. In an article
on Cloud Times, Scott Hebner, vice president, IBM cloud and business infrastructure management, asserts that SoMoClo needs to evolve for the enterprise.
“This represents the next chapter of the Internet transformation (and corresponding standardization), enabling more flexible delivery of services and expanding reach and collaboration for new levels of productivity,” he says. Hebner suggests five guidelines for those companies adopting SoMoClo strategies:
- Guidelines work better than restrictions.
- Security is key as BYOD (bring your own device) proliferates.
- Keep employee morale and productivity in mind.
- Draw the line before compromising customer data.
- Leverage SoMoClo to maximize both your marketing and IT potential.
As the growing momentum of SoMoClo breaks down the barriers to its broadscale use in the enterprise, consider these points as foundations for best practices.
Posted by Epicor Social Media Team
Insights 2013 Epicor Customer Conference held May 13-16 in Nashville, Tennessee, was this year's essential event for businesses that depend on Epicor Retail Solutions, as well as other Epicor business management solutions. To add a little fun at the start of the conference, Epicor invited retail customers to join golf rivals Duncan Taylor, Epicor senior director international business development, retail, and Joe Sarabok, Epicor senior sales director, retail, in an "Epic" battle to see whose swings reign supreme.
This year Team Taylor (blue polo’s) and Team Sarabok (red polo’s) hosted the classic round at Nashville's beautiful Hermitage Golf Club
. The first golf showdown was held at Caesars Cascata
in Vegas during Insights 2012—Team Duncan was the victor. Watch the video to see the winning outcome this year.
Participants - back row, left to right: Edward Iskander (Danier Leather Inc.), Andrew Mitchell (VF Corporation, guest), Richard Hicks (The Paper Store), Mike King (BT Expedite), Duncan Taylor (Epicor), Rick Coenen (Sussan Corporation), Tim Delasantos (The Paper Store), Chris Wrye (Genesco), Maureen DeMott (Charming Charlie), Joe Mach (VeriFone). Front row, left to right: Matthew Couture (Epicor), Rob Stoy (American Eagle Outfitters), Brian Quill (Under Armour), Joe Sarabok (Epicor), Shawn Charrette (VF Corporation), Adam Thompson (Factory Connection, LLC).
A HUGE thank you to Joe Mach and the VeriFone team for sponsoring the great event! Another HUGE thank you to Brian Quill and Under Armour! Under Armour, one of Epicor’s most innovative customers helped the Epicor team develop a vision for the golf event attendees and helped drive the “I WILL” passion on the course by wearing some very fine Under Armour golf shirts.
Posted by Duncan Taylor, Senior Director International Business Development
Epicor Retail Solutions
For the first time, Colombia’s elite IT analysts met with top Epicor executives to learn about company plans and upcoming technology releases at the Epicor Influencer Summit in Bogota, Colombia.
Held on April 23 at Criterión, one of Colombia´s most renowned restaurants, the event set the stage to engage with country IT influencers. Epicor shared with attendees its business philosophy, strategic plans, and the latest technologies and solutions the company brings to the market. “Hosting this event here in Bogota gave our top Epicor executives the opportunity to share their insights and industry experience, demonstrating our company is engaged to deliver value to businesses in the Latin American market,” said Ivan Rebolledo, regional sales director at Epicor.
The Epicor Influencer Summit featured presentations by top Epicor executives including: John Hiraoka, executive vice president and chief marketing officer; Russ Mellott, senior vice president, sales, ERP Americas; Pedro Garza, director solution engineers Latin America and the Caribbean; and, Matt Bauer, channel director, ERP Americas. Each provided insight into where the company is heading, the latest technology advances of its visionary software solutions, and channel strategy for Latin America, which was very well received by attending industry influencers.
“Latin America is one of the fastest growing markets in the world and a strategic focus for Epicor,” said Hiraoka. “We continue to invest great effort and resources in growing our direct and channel presence in the market; developing an even stronger business ecosystem through our Epicor Inspired Partner Network. Having the chance to meet with Colombia’s IT elite during the Influencer Summit was an opportunity to give them a closer look at Epicor and all we have to offer to help Colombian companies optimize processes and drive efficiencies throughout their organizations to achieve greater business success.”
Epicor has over four decades experience as a leading global provider of business software solutions. The company’s presence in Latin America goes back more than 15 years, testament to its ongoing commitment to serve companies in the region and help them drive business success.
Posted by Epicor Social Media Team
Each year Epicor employees look forward to the Insights conference for many reasons – most importantly, the opportunity to educate our customers. For those with Epicor University, we look forward to the preparation of education sessions. The team dedicates their time to content development in preparation to deliver the best education sessions possible for our customers. And, this year we are proud to share the following key points regarding this Insights conference:
- Two full days devoted to pre-conference Extended Education Sessions with over 1,100 enrollees – record attendance
- Over 130 unique conference education session labs with full attendance
- All lab books printed and new this year eBook format
- Customer luncheon education roundtables for each product line – dedicated to hearing customer feedback on education
- Dedicated Epicor University booth, ERP demo area, and Distribution demo area for education deliverables in Solutions Pavilion
We are inspired to apply what we’ve heard and learned from our customers after this year’s conference. So much valuable first-hand customer feedback – thank you to all of our customers!
Posted by Louise Keppel, Vice President Epicor University
These two Business Intelligence tools were highlighted at day two of the 2013 Epicor Insights Global Customer Conference.
The Customer Buying Trend Analysis module for Epicor Prophet 21, available for v. 12.9 and higher, looks at sales history (as far back as two years), identifies normalized buying patterns (i.e., what customers should have bought), and calculates the standard deviation (using a series of Six Sigma statistical models). Any statistical anomaly beyond this deviation (excluding seasonal/erratic customer/item combinations that don’t fit any pattern) indicates that you missed a sales opportunity. The system tells you this in real time, so that you can take action with customers who have stopped buying, and shows you exactly how much each miss cost your business.
There are many ways to filter the data that is produced; for example, by sales rep, so you can send them a real-time notification. (The sales rep can then enter an annotation of a follow-up call made to the customer, and 30 days later, they’ll receive another alert if the opportunity remains open.) Other filters include by minimum sales amount, by minimum invoice lines, by supplier, etc. By selecting a number of filters, you can reduce the data down to a workable list.
Customer Buying Trend Analysis can also help a distributor’s internal buyers, finding underlying issues even before your purchasing algorithms would. It is simple to set up, and creates a powerful basis for strategy. Epicor distributors are using this functionality to anticipate customer issues and recover tens of thousands of dollars every year that would otherwise have been lost.
The Sales Master Inquiry window is a tool for distributors to analyze their customers’ revenues and bookings. Using Sales Master Inquiry, the distributor can help discern problems in the sales cycle, identify opportunities, and then take action.
Part of the CRM functionality of Epicor Prophet 21 v. 12.11 and higher, Sales Master Inquiry shows executives, Sales and Marketing which customers are trending up or down, and allows them to review customer and prospect data that suggest the creation of tasks (e.g., assignment of Customer Care calls, or targeting of prospects for a campaign). This data can help you determine where and how your Sales and Marketing teams should spend their time; e.g., which customer deserves discounts or free freight; or who didn’t buy add-ons or peripherals and might be receptive to a follow-up offer.
This tool can distinguish between sales “leaders” and “bleeders” among your customers year over year, as well as return-to-sales ratios and cost to serve. As with Customer Buying Trend Analysis, the data can be boiled down to the fields that are most relevant to you.
Posted by the Epicor Social Media Team
Epicor experts at the 2013 Insights Global Customer Conference shared tips for managing the fundamentals in this critical area. As a distributor, your goals should be to:
· Fulfill orders accurately and on time
· Minimize cycle time (from receiving at the warehouse to shipping)
· Minimize expense.
Factors that can influence demand for your inventory include new product releases, offering proprietary vs. commodity products, minimizing inbound or outbound freight, setting minimum order quantities, providing vendor managed inventory, etc.
Many tools are available to predict demand. Forecasting involves using historical data to predict future requirements; it’s your best estimate based on what you know, excluding one-time events (statistical outliers) such as seasonal/cyclical demand, special promotions, etc.
For example, one well-known formula for setting a minimum stock level is:
Minimum stock level = re-order point – average or normal usage X normal re-order period (i.e., lead time)
Safety stock is used to make up for issues with lead time, suppliers, transportation, inconsistent demand, spoilage, promotional or discount programs, etc. You never want your safety stock to get down to zero.
Suggested ways to reduce inventory include:
· Maintain accurate minimum stock and safety stock levels
· Make more frequent purchase orders (spreading them out) – of course, always weighing this against the tradeoff of any additional cost
· Eliminate the root cause that’s requiring you to “cover yourself” with safety stock.
Posted by the Epicor Social Media Team
Expanded Market Opportunities, Strategic Partnerships and New Mobile Offerings to Inspire Customers to Realize the Full Potential of Technology Investments
EPICOR INSIGHTS 2013 (NASHVILLE, Tenn.) --
Epicor Software kicked-off its annual user conference Insights 2013
on a high note from Music City, USA, with nearly 4,000 in attendance spanning the manufacturing, distribution, retail and services industries. Epicor CEO and President Pervez Qureshi delivered the opening keynote as Epicor customers and partners came together to get inspired by innovation, new technology and dynamic user experiences that will take their businesses to the next level.
Epicor software solutions drive the companies that are innovating business today, with a modern approach to architecture, mobility, embedded analytics and built-in business process management. Epicor solutions are designed to help customers derive the most value from their technology investments. “We want our products and new technologies to inspire customers to think about their business from a fresh perspective, and enable them to deliver more value to their customers,” said Qureshi. “Our solutions help customers automate and streamline core business functions, at the same time providing a flexible and agile platform to leverage social, mobile and cloud innovations—designed for the way people work today, anywhere, anytime and from any device."
“Insights 2013 brings together customers representing the industries we serve and the Epicor product offerings tailored to their business,” Qureshi continued. “During the conference they gain knowledge to help them realize the full potential of the Epicor product they are using today, and learn about what we are doing to expand their opportunities to leverage extended offerings and latest technology innovations.”
Expanded Market Opportunities
Through strategic acquisitions
Epicor has enhanced and strengthened offerings in key vertical industries such as lumber and building materials, automotive, food and beverage, and print and packaging, and added best–in-class manufacturing execution systems (MES) and processing manufacturing offerings to its solution portfolio. These offerings are gaining momentum and creating new opportunities for Epicor customers, like the new version of Epicor CMS (see news release
) which delivers expanded features and functionality for the automotive industry. The Honda Approved Epicor CMS solution is designed for intensive supply chains, and helps eliminate shipping errors, tighten inventory accuracy, and strengthen enterprise-wide control and supplier management.
Strengthening its presence in Asia Pacific, Epicor recently opened a new Technology Center based in Guangzhou, China. The Technology Center was established to strengthen Epicor service and support to clients and partners in China, and throughout the Asia Pacific region, and to support localized technology innovation for Epicor enterprise business software solutions and applications. Recognizing the distinct characteristics and requirements of the Asia Pacific market, the new Technology Center will focus on localization optimization and provide first-hand technical support for clients.
Enterprise Mobility Continues to Evolve
According to a recent report by Gartner, Inc., “The adoption of mobility is driven in part by consumerization and will continue to drive investments in mobile applications by an increased use of smartphones and tablets, and will be an area of growth for SMBs, which are using mobility as a business strategy, realizing that the technology brings with it agility and efficiency.”(1)
Epicor provides mobile offerings that enable manufacturers, distributors, retailers and services organization alike to transform user and customer experiences, improve operational efficiency, increase productivity, and enable real-time well informed business decision making to gain competitive advantage. Among the newest Epicor mobile offerings available to customers today are:
- The newest release of Epicor Eagle business management software for independent retailers, announced during Insights, which previewed Eagle Loyalty and Eagle Tablet POS which are expected to be available later this quarter;
- Announced at Insights 2013, Epicor Payment Exchange Mobile (EPX Mobile) is a free, downloadable app that runs on mobile devices and allows Epicor customers to accept credit card payments wherever their consumer is located;
- Epicor brought mobile to the latest version of its human capital management solution with Epicor HCM Mobile Connect, which provides access to users for daily tasks via Apple® iPad®, iPhone® or Android® devices (see news release);and,
- Epicor Distribution customers now have access to Epicor Mobile Business Analyzer, a new mobile business solution to support executive-level decision making for wholesale distributors (see news release).
Innovation Drives Productivity for Epicor Customers
Extending the value and investment that customers make in the solutions that run their businesses is a key focus for Epicor, by delivering enabling technologies and innovations to help customer drive productivity, efficiency and promote growth.
Epicor announced a partnership with Magento®, owned by eBay Inc. (see news release), which brings an integrated offering to Epicor retail customers that supports rich omni-channel retailing. As well, Epicor introduced its new Epicor Retail Cross-Commerce offering, a flexible, advanced eCommerce platform that enables retailers to personalize the shopping experience across channels, to support increased revenue and customer loyalty.
Epicor continues to deliver unprecedented choice and flexibility with its next-generation Epicor enterprise resource planning (ERP) suite, which customers can deploy on-premise, as a managed service or in the cloud. Built on the Epicor ICE Business Architecture, the innovative ERP offering enhances collaboration, facilitates end-to-end business processes, and improves operational effectiveness.
Epicor ERP deployments have accelerated worldwide as the company announced surpassing the milestone of over 1,000 customers now live on the solution (see news release). The momentum continues as more businesses are choosing put the power of the next-generation Epicor ERP platform to work to support business innovation, process improvements and a truly integrated view of the business and value chain.
Likewise, the Epicor ERP cloud offering is gaining traction -- available today in Australia, Canada, China, Mexico and the United States, the growing list of Epicor ERP cloud customers include companies like Plastiglide Manufacturing, Corp, Samscreen Inc. and Mayekawa Manufacturing Company (see news release).
On the manufacturing execution systems front, customer momentum is growing among manufacturing organizations worldwide for Epicor Mattec. The company’s full-featured, best-in-class MES standalone solution, and is creating new opportunities for Epicor as an integrated solution with its next-generation ERP (see news release).
For a closer look at what’s happening at Insights 2013, visit the EpicorInsights channel on YouTube.
Posted by the Epicor Social Media Team
(1)Source: Gartner, Inc. “Market Insight: Technology Opens Up Opportunities in SMB Vertical Markets,” by Christine Arcaris, Jeffrey Roster (September 6, 2012)
You can't manage inventory properly if the counts are not correct in your system. Good counts bring better inventory management.
What is Cycle Counting?
Cycle counting means taking a manageable section of your warehouse, daily or weekly, and verifying the quantity of the item(s)—instead of doing one total year-end physical count, possibly making 3-4 passes through the warehouse.
When using the cycle count feature in Epicor Prophet 21, you have the option to count by item, bin and even ABC classes. Counting by either purchase or putaway class, the option becomes available to count specific classes such as A more often than, say, class B. One theory is to count by putaway hits, assuming the items touched the most stand a better chance of being less accurate.
Another good gage is monitoring the service level of miss-ships, and how many times during the shipping process the quantity needed to be edited. There is a company lost sales feature to help you monitor this.
When to Do It
It is always best to count in the early morning, before any pick tickets have been printed and pulled. You always need to verify items removed from the bin before the count, as the bin will be less that amount.
Most times, I recommend blind counts, meaning you don’t list the quantity that should be in the bin. This “forces” a count, demonstrating why it is better to perform the count before any activity.
The other option would be to list the quantity as well as any allocations, and then, the counter could locate the missing quantity that has been pulled, to verify the count.
Types of Counts
I always recommend bins for the best success in counting. This way, when using advance bins in Epicor Prophet 21, the counts will walk through the warehouse in a manageable path. If tracking lots, tags or serial numbers, these will be verified, as well. Keep in mind that during an item adjustment, you can check “add to the next count”; this will help verify these items being adjusted.
Another option is physical count; the physical count feature will allow you to select a range of bins, ABC purchase class, and limit by supplier. With either method, the “physical vs. on hand” report can be used to obtain a list of items to be recounted, whether by quantity or value, but the cycle count accuracy report is only a cycle count feature—not a physical count.
Cycle Counting and Wireless
When using Epicor Prophet 21 Wireless Warehouse Management System (WMS), any bin activity is captured in real time, so there is no need to verify allocations. Once the item has been picked or moved, the count sheet is updated, maintaining accurate bin counts. With WMS, there is also no need to count early in the morning, since the counting process can happen any time during the day.
Posted by Neil VanWalbeck, Senior Professional Services Consultant at Epicor Software Corporation
Inbound Logistics selected the Top 100 logistics and supply chain technology vendors – and Epicor made the list! This year’s best in class winners are recognized for breaking new ground and leading the market. Inbound Logistics’ editors placed value on choosing providers whose solutions are central to solving transportation, logistics and supply chain challenges, and whose customer successes are well-proven.
To accompany this list, Inbound Logistics reveals the latest logistics technology trends influencing the supply chain sector based on findings from their Logistics Technology Market Research Report. Among them is Big Data. Other trends include function- and vertical-specific logistics technologies, the collective power of social media and cloud computing, and a continued emphasis on cost reduction.
So how are technology vendors responding to these market trends with respect to the global supply chain? Inbound Logistics’ research and analysis provides perspective on how technology companies are approaching the market, where they’re investing and the challenges they see through their customers.
Here is a glimpse of their findings. Go here to read the full report.
Industries Logistics IT Providers Serve
Solutions Logistics IT Providers Offer
Logistics IT Buyers' Top Challenges
Source: Inbound Logistics Top 100 Logistics IT Providers Survey
Posted by Epicor Social Media Team
As the world continues its conversation about big data and its implications, let’s revisit the seminal report that first brought the topic to a high level of visibility. In May 2011, the McKinsey Global Institute published “Big Data: The Next Frontier for Innovation, Competition, and Productivity”; the rest is, as they say, history. McKinsey’s observations have unfolded across the globe, and the report has become one of the world’s most cited sources on the topic.
The report defines big data as follows:
“’Big data’ refers to datasets whose size is beyond the ability of typical database software tools to capture, store, manage and analyze. This definition is intentionally subjective and incorporates a moving definition of how big a dataset needs to be in order to be considered big data—i.e., we don’t define big data in terms of being larger than a certain number of terabytes (thousands of gigabytes). We assume that, as technology advances over time, the size of datasets that qualify as big data will increase. Also note that the definition can vary by sector, depending on what kinds of software tools are common in a particular industry. With those caveats, big data in many sectors today will range from a few dozen terabytes to multiple petabytes (thousands of terabytes).”
Seven Major Points About Big Data:
- Data has swept into every industry and business function and is now an important part of production.
- Big data creates value in numerous ways:
a. Creates transparency.
b. Enables experimentation to discover needs, expose variability, and improve performance.
c. Segments populations to customize actions.
d. Replaces/supports human decision making with automated algorithms.
e.Innovates new business models, products, and services.
- Use of big data will become a key basis of competition and growth for individual firms.
- The use of big data will underpin new waves of productivity growth and consumer surplus.
- While the use of big data will matter across sectors, some sectors are poised for greater gains.
a. Computer and electronic products and information sectors, traded globally, stand out as sectors that will benefit substantially from the use of big data.
b. Two services sectors—finance and insurance and government—are positioned to benefit very strongly from big data.
- There will be a shortage of talent necessary for organizations to take advantage of big data.
- A number of issues will have to be addressed to capture the full potential of big data:
a. Data policies
b. Technology and techniques
c. Organizational change and talent
d. Access to data
e. Industry structure
Clearly, the economic impact of big data will be profound. In a post on the Harvard Business Review blog network, David Court makes the case for organizations crafting a big data plan. He notes a growing consensus among executives that the returns from big data are real, but notes as well that moving forward is challenging. In terms of costs and commitment, the investment can be large. He posts a basic approach:
“The answer, simply put, is to develop a plan. It may sound obvious, but in our experience, most companies fail to put in the time required to create a simple plan for how data, analytics, front-line tools, and people can come together to create business value. The power of a plan is that it provides a common language that allows senior executives, technology professionals, data scientists, and managers to talk through where the greatest returns will come from, and more importantly, select the two or three places to get started.”
Court draws a parallel between big data planning and strategic planning, noting how the beginnings of the latter by a few companies in the 1970s has now become standard operating procedure for virtually all companies. Sooner rather than later, big data planning is likely to become commonplace as well.
Posted by the Epicor Social Media Team