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    Information Technology in Retail

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    Maya Remcy
    Information technology plays a key role in enabling efficient and organized retail operations. It allows retailers to forecast demand, manage inventory, and track store performance. Common retail IT solutions include forecasting systems, inventory management systems, and store management systems. Emerging technologies being adopted in retail include radio frequency identification (RFID), smart operating systems, point of sale systems, and digital signage. The use of IT impacts customer spending, with loyalty programs, retailer websites, and in-store kiosks influencing where customers prefer to shop.

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    Information Technology in Retail

    Uploaded by

    Maya Remcy
    890 views17 pages
    Information technology plays a key role in enabling efficient and organized retail operations. It allows retailers to forecast demand, manage inventory, and track store performance. Common retail IT solutions include forecasting systems, inventory management systems, and store management systems. Emerging technologies being adopted in retail include radio frequency identification (RFID), smart operating systems, point of sale systems, and digital signage. The use of IT impacts customer spending, with loyalty programs, retailer websites, and in-store kiosks influencing where customers prefer to shop.

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    Information technology plays a key role in enabling efficient and organized retail operations. It allows retailers to forecast demand, manage inventory, and track store performance. Common retail IT solutions include forecasting systems, inventory management systems, and store management systems. Emerging technologies being adopted in retail include radio frequency identification (RFID), smart operating systems, point of sale systems, and digital signage. The use of IT impacts customer spending, with loyalty programs, retailer websites, and in-store kiosks influencing where customers prefer to shop.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    890 views17 pages

    Information Technology in Retail

    Uploaded by

    Maya Remcy
    Information technology plays a key role in enabling efficient and organized retail operations. It allows retailers to forecast demand, manage inventory, and track store performance. Common retail IT solutions include forecasting systems, inventory management systems, and store management systems. Emerging technologies being adopted in retail include radio frequency identification (RFID), smart operating systems, point of sale systems, and digital signage. The use of IT impacts customer spending, with loyalty programs, retailer websites, and in-store kiosks influencing where customers prefer to shop.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 17

    INFORMATION TECHNOLOGY IN RETAIL

    Presented by Maya Remcy

    RETAILING
    "Retailing includes all the activities involved

    in selling goods or services directly to final consumer for their personal, non business use".
    means

    that one should connect to the customer and should be able to hold him in one place and give him all that he desires from one location.
    of the key factors in achieving an organized and efficient retail operation is the use of technology as an enabler

    One

    INFORMATION TECHNOLOGY
    Information

    technology, as defined by the Information Technology Association of America (ITAA), is " the study, design, development, implementation, support or management of computer-based information systems, particularly software applications and computer hardware." technology is the capability to electronically input, process, store, output, transmit, and receive data and information, including text, graphics, sound, and video, as well as the ability to control machines of all kinds electronically.

    Information

    IT IN RETAIL
    Forecasting
    Forecasting is the process of estimation in unknown

    situations.
    Retail demand forecasting
    Large-scale systems are now capable of handling

    the mass of retail transaction data organizing it, mining it and projecting it into future customer behavior

    Inventory management
    An IT solution is a proven and market leading

    solution for determining optimal time-varying inventory targets for every item, at every location throughout supply chain.
    Store management
    The

    in-store system use magnetic strips or barcodes or RFID to monitor actual versus intended

    NEW TECHNOLOGIES EVOLVED IN RETAILING


    Radio Frequency Identification(RFID) Smart Operating System

    Point Of Sale
    Digital signage

    RADIO FREQUENCY IDENTIFICATION


    It's a data collection technology that uses

    electronic tags for storing data. Helps identifying customers by issuing them smart cards embedded with smart chips Cards are RFID enabled and helps identifying customer preferences

    SMART OPERATING SYSTEM


    SmartOps

    customers are proactively managing supply chain uncertainty across all stages to improve their total chain inventory planning

    SmartOps

    enterprise software solutions support many initiatives and challenges associated with different manufacturing and distribution industries

    POINT OF SALE
    Point of sale (POS) or checkout is the location

    where a transaction occurs.


    Point of sale (POS) systems is electronic

    systems that provide businesses with the capability to retain and analyze a wide variety of inventory and transaction data on a continuous basis

    DIGITAL SIGNAGE
    Digital

    sign boards integrated automatic tracking system

    with

    an

    Helps in customers track a product

    IMPACT OF IT ON SPENDING WITH THE PREFERRED RETAILER


    6 5 4 3 2 1 0 20 40 60

    1. 2. 3. 4.

    Super market Liquid store Department store Discount department store 5. Apparel/accessories 6. Household/consumer electronics

    Super market
    Information kiosks

    Smart trolley

    Self-service check -outs

    Liquid stores
    Information kiosks Smart trolleys Customer loyalty cards

    Traditional and discount department stores


    In-store information kiosks
    Retailers internet site Digital multimedia

    Apparel and accessories retailers


    Customer loyalty cards Retailers internet site

    Household /consumer electronic retailer


    Retailers internet site Information kiosks Customer loyalty cards

    THANK YOU

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