This report provides information of POS and would have some examples of POS system in the world, here is a brief description of POS.
The POS system had been created for many decades. The use of POS system is not only accepting payment, but could be used to solve the problems, augment the function of traditional POS terminals. The case study report would be concentrated on modern POS system and the revolution.
A Point of Sale (POS) system is a system to manage the retail terminals and goods. POS system is a products combined by the software and hardware to deal with payment activities and to manage the functional information of retail, including sales tracking, storage management, security, accounting and customers’ information management.
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Case Study
What is POS system?
POS system (POS terminal) is a system combined with software and hardware. Normally, it works with touch screens and non-touch screen based systems. It used to manage the sales of retail goods and help the retailers to keep control to prevent theft
It provides inventory tracing to follow the problems and it help to make better control of the retail activities. POS system makes a business more efficient, lowering the costs and improve customer service and create pleasant environment to work in, which means it help to enhance the control of the business (which can help to keep track the price, update record and accounts receipt).
Mobile POS
Mobile point of sale is a wireless device that works as a cash register or POS terminal. MPOS allow peer to peer services industries to control financial issues in different place, which could improve the customer experience (CX).For example, customers could order items at any spots in the shop since the retailers could make order at anywhere in the shop recently with mobile POS device. According to Margaret Rouse, an mPOS can also be cost-effective, allowing a small business owner to conduct transactions without having to invest in an electronic register or pay someone to support the
Yes, the POS terminals were out-dated and were being backed by DOS operating system which Microsoft no longer supported. They are running a risk of the product becoming obsolete and being unable to maintain support from vendors. Up-to-date operating system would provide more user friendly mechanisms, more functionality, thus allowing effective communication between stores and headquarters. New modern operating systems would allow simple standardisation and sharing of data across the board. Modern operating systems also provide more security platforms (such as credit card details), inventory management, and report generation for decision making. Also it allows real time transactions to be recorded.
Another aspect of its success is how it functions is in the human resources department. The company has been recognized for being innovative and effective for its stay interviews and manager certification programs (Ruggles, 2011). “"Their turnover rates for both management and hourly employees were among the lowest in their industry segment,? said Joni Doolin, founder of the People Report, a research firm and sponsor of the conference along with Black Box Intelligence, another research firm” (Ruggles, 2011). Instead of performing exit interviews the company utilizes stay interviews designed to improve working conditions to impress upon employees to stay. In order to efficiently monitor sales and inventory the company utilizes a Point of Sale(POS) system as items are rang up in the register providing at real time key spending and income factors.
Another aspect of its success is how it functions is in the human resources department. The company has been recognized for being innovative and effective for its stay interviews and manager certification programs (Ruggles, 2011). “"Their turnover rates for both management and hourly employees were among the lowest in their industry segment,? said Joni Doolin, founder of the People Report, a research firm and sponsor of the conference along with Black Box Intelligence, another research firm” (Ruggles, 2011). Instead of performing exit interviews the company utilizes stay interviews designed to improve working conditions to impress upon employees to stay. In order to efficiently monitor sales and inventory the company utilizes a Point of Sale(POS) system as items are rang up in the register providing at real time key spending and income factors.
Point of Sale (POS) data systems have allowed the supermarkets and supercenters, to beable to better understand the consumer purchasing behaviors. This has allowed the stores to beable to better manage their inventories and the product promotions. This knowledge has allowedthe stores to be able to bargain better with their suppliers, which has given them the ability tolower the product costs. The next phase of the marketing research that will have a big impact
An order processing system will be trap the order information from the customer service or straight away get it from customers. The data will be stored in a central database and the order information will be send to the accounting and shipping departments. The order processing system will be generate the tracking data based on the orders and inventory for every step of the way. Order processing system is very useful in any company especially those retailer or supply chain company. This system can help to ensure that all of the customers’ orders are filled on time. Since it is an automatically systems thus it can reduce errors while order is processing. By using this system, it can create a win-win situation between their business and their customers. It will enhance customers’ experience with more reliable deliveries and zero mistakes order fulfillment. For the business side, it can maximize the profit of the company with all the accurate orders, not to mention about the long-term revenue boost that comes from consistently satisfying
point of sale system. The POS system is a perpetual inventory counting method that electronically records items immediately upon their point of sale (Stevenson, 2015, pg. 552). In other words, as a cashier scans a customer 's groceries, each scanned item is automatically recorded in the system and deducted from the store’s inventory. Implementing a point of sale would benefit a business’s inventory management function in several ways. First, the POS system will provide managers with a continuous flow of updated information (Stevenson, 2015, pg. 552). As a result, the information will provide more accuracy when used for sales forecasts and analysis, which substantially affect inventory decisions. Continuously, this inventory system would also allow greater flexibility in the sense that it can be wirelessly linked to the main company’s inventory system, creating a network of the company’s inventory systems. The POS system is capable of tracking many operations at once and can be modified according to management’s needs (MacCarthy, n.d.). This flexibility would undoubtedly benefit a large company like Wegman’s with many store locations. Lastly, the system is able to help businesses maintain a high level of customer service. Because the system gives customers a receipt with the price and quantity of each item purchased, the customer is able to see exactly what he or she purchased. This practice
Domino’s defined point-of-sale system, Pulse, which is an important asset in maintaining consistent and efficient management functions in each of its restaurants. A point-of-sale system captures
The adoption of Electronic Point of Sale (EPoS), Electronic Funds Transfer Systems (EFTPoS) and electronic scanners have greatly improved the efficiency of distribution and stocking activities, with needs being communicated almost in real time to the supplier (Finch, 2004).
4) The system keeps buffers between successive operations to maintain continuity of production (reducing the variability in demand at various stages).
Nowadays, in an era that has advanced technology and a place in the world. Everything can be linked only at your fingertips in the times of rapidly developing with the sophisticated technology of today. Therefore, an inventory system is also not lagging behind in introducing a method of keeping an inventory data systematically and safely. The system plays a very important role in improving the competitiveness of a business. Usually, organizations today face too many challenges to achieve the cost, speed and reliability. Efficient inventory system really help in order to make sure the store’s performance and data record is always in good condition and secured from abusers. The system basically to ease the admin to manage the
Recent statistical analysis of implementing VMI in the clothing industry has shown a substantial increase in sales and inventory consistency. According to the research, POS systems provided a 37% sales increase along with 37% increase in sales forecasting (Chain Store Age, 2001)
6c. Should the POS applications software be re-written to include any additional functionality? If yes, what specific functionality? If no why?
A point of sales system is another great addition to nay growing business. The POS has many functions. The POS will contain a register for purchases, have the ability to track reports and menu maintenance, improve service speed, and enhance customer service. To increase service speed, the POS efficiently makes order entries that are then transferred to the kitchen. This results in fewer mistakes and the ability to track ticket and wait times. The system also has the function of splitting checks and makes card processing simple. This ensures more seat turnover and shorter wait times for the customers. In return this has the potential to increase revenue at every service. POS can create loyalty programs that ensure repeat customers and generate more sales of gift cards. POS provides operational control that analyzes “detailed reports to drill down on sales, server and restaurant performance” (NCR 2013). A software like ALOHA also provides a training interface that allows new employees to learn the system quickly. This reduces the cost a restaurant would ultimately have to pay on training new employees. The ALOHA system is very up to date with new technology trends, providing mobile and digital signage and cloud based solutions and social technologies. The variety of functions in a point of sales system makes it very attractive to new restaurant owners. The cost of a POS can range hundreds to thousands of dollars based on the size of the
A point-of-sale system captures purchase and payment data at a physical location where goods or services are bought an d sold using com puters, auto mated cash registers, scanners, or other digital devices. In 2003, Domino's implemented Pulse in a large porti on of its stores, and those stores reported improved customer service, reduced m istakes, and sho rter training tim es. Since th en, Pulse h as become a staple of all Domino's franc hises. Some of th e func tion s Puls e performs at Domino's franchi ses are tak ing and custom izing orde rs using a tou ch-screen interface, maintaining sales figures, and compili ng customer in formation . Domino's prefers n ot to discl ose th e sp ecific dollar amo unts th at it has saved from Pulse, but it's clear from indus try analysts th at th e technology is work ing to cut costs and inc rease customer satisfaction . More recently, Domino's released a n ew hardware and software platform called Pul se Evolution , which is now in use in a m ajority of Domino's m ore th an 5,000 U.S. branches. Pulse Evolution improves on th e older technology in several ways. First, th e older software us ed a 'thick-clie nt' m odel, wh ich re quired all m achines using th e software to be fully equ ippe d personal compute rs running Windows. Pulse Evolution , on th e othe r h and, uses 'th in-clien t' arc hi tecture in wh ich n etworked workstat ions with little indep endent