It in Retail Store Operations

4910 WordsNov 26, 200820 Pages
Impact of Information Technology in Store Operations Research paper Submitted by: - Jigar Mehta Roll no.21 PGDM-RM 2nd year 2007-2009. Impact of Information Technology in Store Operations Introduction: Retailing is a “technology-intensive" industry. It is a well-known fact that the retail industry always works on razor thin margins and the key to survival lies in optimization of resources both in space and time dimensions as well as maximization of customer satisfaction. Successful retailers today work closely with their vendors to predict consumer demand, shorten lead times, reduce inventory holding and ultimately save cost. Access to timely and even real-time information to a wide variety of channel and trading…show more content…
Keywords: Retail Technology, Store operations, Information technology in store, Expected Results: Implementation of Information Technology will improve customer retention. It will increase footfalls and customer conversion rate. Literature review: The increasing need to use technology to manage complexities in customer care, profitability, and operational challenges has precipitated competition among retail technology vendors. Retailers are remedying this situation by partnering with solution vendors that have leveraged newer radio frequency identification (RFID), smart card, and Wi-Fi technologies. This partnership is also helping them to prepare legacy systems for convergence. "Retailers are undergoing accelerated technological innovation in achieving profitable differentiation.” Retailers that wish to stand out in the crowd are showing great interest in hand-held terminals that have evolved from its proven supply chain form factor to the real-time enabled mobile points-of-sale (MPOS), consumer, associate, and manager productivity form factors. Technologies that can enable data capture and access for improved decision making will remain growth drivers in developed and developing economies. POS replenishment in developed economies is driven by next-generation, forward and backward integration-capable POS systems, however, self-checkout is likely to form

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