Chapter 12
Retail Information Systems
Retail Information Systems
WHAT YOU W ILL LEARN
§ What system modules and functions you should look for in purchasing a new retail system. Names, phone numbers and web site addresses for some of the best Canadian distributors of retail system software. What you can expect to pay for a state-of-the-art retail information system. How to perform “reference checks” when evaluating a retail system you are considering. Why leasing computer software and equipment makes sense. How to calculate the “Return on Investment” when considering a system upgrade.
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It has been said that not having a good, reliable retail information
The computer is an invaluable tool in processing
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Purchase Order Module
This critical area should be examined closely to ensure it handles all of the specific functions for your type of store. If they are relevant to your operation, check to see if it has the following:
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Size & colour matrix. Landed cost calculations. Back order tracking. Staggered shipping dates. Pre-distribution capabilities. Sale pricing.
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Chapter 12
Retail Information Systems
As well, see how “user friendly” your potential system is by entering a purchase order and receiving merchandise against it.
ü Tip
Interfacing capabilities with a third party report writer gives you more flexibility in seeing the data you want in the format you require.
Merchandising and Inventory Management
Merchandising and inventory management are a series of printed and on-screen reports that provide the tools to make timely decisions. Most syst ems come with plenty of “canned” reports. The challenge is to find “summary” reports that offer management top-level information, highlighting both problem and opportunity areas. Once an area is identified, drill-down capabilities will allow you to generate additional detailed reports with the specific information necessary to act. For example, a high level report on store sales and gross margins by department will usually prompt further questions such as “Why is the margin at this store so low? What are the
Target Corporation enhance its information warehouses with latest big data that is technologically sophisticated to crunch large data using complex algorithms and provide vital output data for a daily operation as well as strengthen its capabilities over its rival which is a competitive advantage and speed up worker productivity. A quality tracking tool provided by information system tracks each package, parts ensuring the goods meet the quality standard.
Rana Chowdury is the current the manager of I.T store systems and store support for a company that has 4 different brands. The 4 brands are Hot Topic, which specializes in music and pop culture inspired fashion including body jewelry, accessories, and music T-shirts. Torrid is all about the fashion for Plus-Size style and trendy clothes for women. Box Lunch has apparel, gifts, gadgets, & more that also helps provide a meal to a person in need with every purchase and finally Lovesick is young, trendy, affordable fashion & accessories for curvy girl’s sizes 10-26.
Worked in end to end automation of many system reports and created a report dashboard for data extraction.
Given the need to improve human resource performance, describe a managerial approach to teamwork, empowerment, and effective communication to accomplish this objective.
Each location will have their own transaction processing application that is constantly collecting products dispensed and patient related information. This information collectively, is used as input to the Management Information Systems.
Currys PC World offers efficient feature to the customers and business management, as the feature of information density helps organisation to attain the quality information regarding their existing customers and prospects. In the similar context, it supported organisation in reducing the cost associated with the collection, processing and storage of information about customers. At the same time, timeliness as well as accuracy of transacting information from customers to management has greatly enhanced the opportunities for organisation to penetrate in the global retail market (Salunke, Weerawardena, & McColl-Kennedy, 2011).
In the United States of America "fortune" magazine published 2011 Annual Global Fortune 500 rankings, WAL-MART, In the global top 500 enterprises once again won the top,with the business income is 421849 dollar, annual profit of 16389 million dollar. Also worth noting is, in March ten before the other enterprises in the vast majority of oil or electric power resource monopoly enterprises. Then, as a major in retail industry, WAL-MART 's tremendous achievements stunning!
Walmart is a billion dollar retailing machine. Through the decades, Walmart has combined many different types of information systems in to their day to day operations. Walmart is known around the world for their continuous improvements and implementation of new information systems to remain on top of the retail industry. The information systems used by Walmart play a major role in their continued success. With their use of Radio Frequency Identification (RFID), Walmart is able to send and receive instantaneous data to their networks. This is why Walmart has been able to remain competitively priced and control their inventories. This paper will show how Walmart has used many different information systems during the course of its history to manage both capital and human resources.
1. What information systems are used at Grocery Gateway to help them make decisions? Would you classify these systems as TPS, DSS, or EIS?
Tasks: What should Alison do? o Develop plans to improve the inventory management o Develop time-based supply strategies to bring competitive advantages to the organization Identify the functions and forms of inventory What are alternatives for inventory management? o ABC classification o Supplier-managed inventories (SMI) o Just-on-time or Just-in-time (JIT) o Enhance the forecasting system (factor correlated with inventory variation) Provide training programs for current and new hiring employees 1
Inditex ensures that its fashion is fast through its supply chain efforts. They have created new methods to enable store managers to order and display merchandise faster and added cargo routes for shipping goods. The company ships clothing straight from the factory to stores and makes two-thirds of its goods in Spain and nearby countries, compared to most competitors who manufacture most of their clothing in Asia. Inditex has their sales managers monitoring computers, which are reporting sales at every store around the world. When a garment does well or fails, they are able to quickly tell designers if they need to come up with new ideas. They also have generated
In the case of the American retailing company, SuperValu, management information systems (MIS) plays an essential role in a company 's organizational structure. By implementing MIS software tools such as Yammer, which was brought upon by SuperValu CEO Craig Herkert, the firm is looking into growing further in a more efficient and effective manner to not only please shareholders but also to allow the firm to act more unilaterally. In order to fully understand and improve the MIS environment for SuperValu, a SWOT analysis must be conducted. By analyzing the firm 's Strengths, Weaknesses, Opportunities and Threats, a vivid snapshot can be taken of what has been done in order to improve the inefficiencies of the firm and to continue to mold SuperValu into a legitimate competitor alongside conglomerates such as WalMart and Target. By performing this SWOT analysis of the firm, an evaluation and level of correlation of SuperValu’s market share and profits will be conducted to see which direction the firm should follow not only in terms of information systems but as a company.
It definition of information technology, its use purpose, scope, and different levels have different interpretations. Information technology contains communications, computer language, electronic technology optical fiber technology. It also may affect computer and its interaction with people, machines, and people appropriate social, economic and culture unite things.
Retail comes from the French word retailler, which refers to "cutting off my hands, clip and divide" in terms of tailoring (1365). It first was recorded as a noun with the meaning of a "sale in small quantities" in 1433 (French). Its literal meaning for retail was to "cut off, shred, off my toes paring".[2] Like the French, the word retail in both Dutch and German (detailhandel and Einzelhandel respectively), also refers to the sale of small quantities of items.
Consumers have many choices when deciding where to purchase their goods. While retailer managers are deciding how to win the consumer’s business and increase revenue, they are also constantly trying to figure out ways to reduce costs. Technology helps retail managers improve areas of inventory and supply chain management as well as customer satisfaction and loss prevention (Green, 2002). This paper explains how technology