Use of information technology in retail

Use of information technology in retail

1. Use Of Information Technology in Retail MMS (17-19) Welingkar Institute Of Management

2. Retail Without IT

3. Retail without IT Inventory Management Stock out Opportunity loss Slow processing Improper display of Products No proper customer relationship Lack of customer experience

4. Retail After IT

5. Retail after IT Transaction processing system Management Information system Knowledge Managment system Decision support system

6. Importance Of IT in retail With the increasing globalization of retailing, both in terms of their points-of-sale and points-of-supply;The Information Technology spend in the retail has increased significantly.IT plays an important role in managment of complex retail operations. Market knowledge as well as control of data and information,is key to obtaining a competitive advantage in retail.Markets are continuing to grow and become more complex;the simple process of retailing has started to deploy more advanced retail information systems to cope with all the transactions involved.

7. IT involvement in Retail To increase the company’s ability to respond to the evolving marketplace through enhanced speed and flexibility. To collect and analyze customer data while enhancing differentiation. To work effectively; retailors need one system working across store to make sure effective use of stock and improve business process. Retailors are beginning to notice that technology’s role is one of an enabler.Essentially IT can speed up processes and deliver cost saving benefits to the company.

8. Customer relationship management Knowing customer Acquiring customer Retaining customer Loyalty program Promotion Identifying new selling opportunities Create detailed customer profiles

9. E-Retail Electronic retailing is the sale of goods and services through the internet. Electronic retailing, or e-tailing, can include business-to-business (B2B) and business-to-consumer (B2C) sales of products and services, through subscriptions to website content, or through advertising. E-tailing requires businesses to tailor traditional business models to the internet and its users.

10. Definition Of POS Point of sale -It is the physical location of a transaction but usually refers to any device or system used to record the transaction for retailor. CPOS : A computer based POS which employs software to implement the POS functionality.

11. POS Softwares User Interface Inventory Reports Invoicing Receivable Accounts Payable Credit card payments

12. POS Hardware components Display/touch screen Cash Drawer Receipt Printer Bar code scanner Label Printer Mag strip reader POS keyboards Scales PDA Pole display

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