Technology and Retail


Published on

Use of Various Technology in Retail

Published in: Education, Business, Technology
  • Be the first to comment

No Downloads
Total views
On SlideShare
From Embeds
Number of Embeds
Embeds 0
No embeds

No notes for slide

Technology and Retail

  1. 1. MBA FB&E 2012-14 RETAIL MARKETING Report on Technology and Retail Submitted to: Professor Sapna Parashar Submitted by: Anant Lodha 124105
  2. 2. INDEX SR.NO PARTICULARS 1. Acknowledgment 2. Declaration 3. Objectives 4. Methodology 5. Overview – Retail and Technology 6. Bar Code Scanners 7. Radio Frequency Identification 8. Enterprise Resource Planning 9. Point of Sales 10. CPFR 11. Data Base Management System - 12. Customer Relationship Management 13. E – Commerce 14. Mobile Technology 15. QR Codes 16. Cloud Computing 17. Electronic Data Interchange 18. GSDN 19. Video Conferencing 20. Wi -Fi 21. Security 22. Conclusion 23. Limitation 24. Bibliography
  3. 3. ACKNOWLEDGMENT I express my sincere gratitude to Prof. Sapna Parashar, Faculty of Retail Marketing, Institute of Management for providing me an opportunity to work on this project. I am very grateful for the constant support and guidance throughout the duration of the entire project
  4. 4. DECLARATION I hereby declare that the report entitled Technology And Retail submitted by me to Institute of Management, Nirma University, Ahmedabad in partial fulfillment of the requirement for the award of the degree of MBA - Family Business and Entrepreneurship for 2012 -14 is a record of bonafide project work carried out by me under the guidance of Professor Sapna Parashar. I further declare that the work reported in this project has not been submitted and will not be submitted, either in part or in full, for the award of any other degree or diploma in this institute or any other institute or university. Date: - 09/09/2013 Anant Lodha - 124105
  5. 5. OBJECTIVES  To know how technology have impact on consumer behavior, experience and ease  To understand different technologies that are implemented in retail stores  To identify the status of information technology implementation in various retail companies.  To understand the customer’s expectation from the retail service provider how changing shopper attitudes and technology are reshaping retail  Analysis of the role of technology in different retail formats.  To analyze the effectiveness of technology in the success of retailer METHODOLOGY Data Source  Magazines  Newspaper  Wikipedia  Retailer’s Website  Research Reports and articles  Blogs  White papers  Secondary Data
  6. 6. RETAIL AND TECHNOLOGY The goal of technologies in retail is to develop technology devices which enable retailers to provide just in time products at the quantity expected by customer with minimal shrinkage. Retail is an information intensive industry and the adoption of information technology is essential for the retail firms in the new era. Retail industry often works on cutthroat thin margins and the crucial to survival lies in optimization of resources like time, space, product as well as maximization of customer satisfaction. To be effective in this competitive world, retailer works in sync with their vendor to predict demand of consumer, reducing inventory holding cost, shortening the lead time which helps in saving cost. Integration of retail and technology helps to achieve this objective with access to real time information to wide range of channels, trading partner, managers and other concerned personnel and ultimately helps the retailer to have edge in such competitive scenario. Technology has been an area of extreme emphasis in retail industries as a way to accomplish goals of using resource optimally and provide customer with best possible services. Enhancements in areas such as supply chain management, inventory management, customer experience, security has been made significantly. Wireless technology and its application in retail have enabled the transformation of retailing that can improve operational processes, improve the customer buying experience, and give better visibility for management into store operations. Retail technology is more effective when it's fully integrated however networks composed of multiple solutions create overly complex environment that lacks cost-effectiveness and scalability. Companies like Wal-Mart, Tesco leverages heavily on technology and works continuously to evolve new innovation to facilitate the process of retailing. Small investor slowly and steady has started to get expose to new technology and tries to create ease. Various soft wares and hardware are developed to make retailing convenience and integration of various information technologies enabled them to take better and effective decisions. . The retail industry continues to face a demanding market environment that requires companies to adjust and actively manage change that may impact sales and performance. At the same time, advances in technology and in capturing and analyzing data are helping companies drive growth, streamline operations, and engage better with consumers
  7. 7. BAR CODE –SCANNERS A barcode scanner is an electronic device for reading printed barcode. Bar coding scanners and bar coding to identify an item, use pre-stored data to calculate the cost and generate the total bill for a client.Barcode systems can provide detailed up-to-date information on the business, accelerating decisions and with more confidence.Barcode scanners are relatively low cost and extremely accurate compared with minimal error compared to key entries by hand.Retailers now a days are increasingly using bar code system called the Universal Product code. Barcode scanner helps retailers in following ways:1. Details Regarding inventory of goods sold 2. Automatic update and re-ordering of stock 3. Give a unique identification to every product and every piece 4. Better marketing information 5. Reliable and faster data gathering 6. Cost effective – Reduces labor cost 7. Easy access to information Bar code also some have drawbacks like improper or damaged barcode labels, training to employees involves cost, requirements of printing etc.
  8. 8. TUNNEL SCANNER Tunnel scanning is a new concept where the consumer one by one keeps the full shopping item on a moving belt through an electronic gate to the point of the sale. As the product passes through the laser sensor, it automatically scans the product and its price and gives complete detail regarding their purchase and the consumers have to do is to pay for the goods.
  9. 9. RADIO FREQUENCY IDENTIFICATION - RFID  Automatic Identification Method  Stores and Retrieves Data using Tags or Transponders  Can be attached or incorporated  Contains Silicon Chips and Antennas  Receive and Respond to Radio Frequency Queries from Transceiver Radio Frequency Identification (RFID) is a globally accepted technology, which has a great success in the area of supply chain management and particularly inventory management. RFID devices are used to conduct rapid, accurate, and frequent product cycle counts, leading to significantly more accurate, near real-time information.
  10. 10. Benefits: Reduces labor “touches”  Real-time visibility of inventory  Increases material handling speeds  Increase sales through improved in-stock position  Relocate mis-placed goods  Rapidly locate items sought by customers on the retail floor or in the backroom,  Identify shrink quickly  Reduce manual inventory costs  Accelerates decisions at point of activity  Improved error correction at the edge  Increased sales through  improved in stock positions  Enhance Customer  Experience & responsiveness  Increased accuracy & visibility  Real-time decision making Applications  Automation of inventory tracking process, stores can keep costs down by maintaining optimum inventory levels, avoiding stock-outs and eliminating unnecessary orders.  Product demand prediction become easy by tracking capabilities and store managers can monitor sales with increased accuracy, ensuring that their inventory supply is stocked accordingly.  Easy for the sales staff to locate a particular item in the store and check its availability in less time which gives accessibility to the products from store to store and also to the entire database.  RFID can enable marketing and customer service teams to identify customers, call-up account histories, and provide value-added services to help create a personalized shopping experience. This helps to handle customer request easily through access to a centralized database.
  11. 11.  Tags attached to the items have the ability to provide virtual personalized feeling to the customer.  RFID technology facilitates retailers to collect information about their customers purchasing trends shopping preference, habits and offer rewards, offers targeted to their interests. to it  Retailer can track the items efficiently and encode multiple codes, resulting improved inventory management and provides safety in terms of fast recall of the inventory and minimizes the theft cases.  Helps the supplier in maintaining the stock of goods and keeping the shelf filled with goods whenever needed and retail stores can see how quickly the products leave the shelves and who's buying them.  RFID readers can simultaneously scan number of tagged items at one glance, regardless of whether the tag is visible which is not possible in case of bar code scanning system  Tags in labels help track product source/specs and RFID-tagged items offer store-to-store visibility, so items can be located immediately on one touch of button  Provides safeguard against counterfeit products.  Allows movement of inventory to be tracked which enables staff to identify the exact location of any retail item at any time.
  12. 12. ERP - ENTERPRISE RESOURCE PLANNING Enterprise resource planning helps in integrating all departments and functions within a company in a single computer system that serves the specific needs of different departments. It is often referred as back-office software and does not run the up-front selling process. When the customer service representative enters the customer order in the ERP system, he has access to all the required information such as customer rating, the company’s inventory levels from the warehouse module, and shipping dock’s trucking schedule from the logistics module. Enterprise Resource Planning is designed to plan the use of enterprise-wide resources. Various ERP vendors have developed retail-specific systems which help in integrating all the functions from warehousing to distribution, front and back office store systems and merchandising. An integrated supply chain helps the retailer in maintaining his stocks, getting his supplies on time, preventing stock outs and thus reducing his costs, while servicing the customer better.
  13. 13. Benefits:  Superior Customer Service  Drive better customer relationship  Robust Analytics Engine  Merchandise Planning  Targeted promotions across stores.  Strong process integration across Sales and Supply Chain network  Efficient stock distribution.  Flexible deployment options.  Highly Scalable solution with large retailers  Highly configurable solution Applications - Components of Retail ERP System:
  14. 14. Merchandise Management Merchandise management includes activities like setting up, maintenance and management of the retail outlet, keeping track of the prices of the items, inventory, and the different vendors etc.thus takes in to account all the activities related to the management of the merchandise offered for sale at the retail store. It offers an integrated interface to the other retail applications and act as a link between the different retail applications supported by the retail ERP suite which are aimed at facilitating retail operations more efficiently. Retail Planning Retail Planning focuses on the different strategies to be employed in order to help the retail store in increasing the sales of the merchandise. It helps to achieve the economies of scale and attaining the desired efficiencies by increasing the merchandise sales at the retail outlets.The retail-planning component is extensively used by the middle and the upper management in formulating favorable promotional strategies to arouse the sales and to fast inventory turnover. Supply Chain Planning Supply chain planning focuses on integral part of retail i.e. planning as well as the execution of the supply chain system for the retailer and keep a track on supply system from the place of the manufacturer to the end customer. It provides the complete track record and material flow from beginning at the manufacturer and ending at the consumer Store Operations The store operations component keeps track and guarantees the proper functioning of the entire store operations like store specific inventory management, sales audit, returns management, perishables management and the labor management, customer management and the associated promotion execution systems. Administration Management Retail ERP system automatically sends the day to day details to the Admin containing total sales, workforce, accounts etc. The report generated helps the top management to take
  15. 15. decisions if any complexity occurs.This feature also includes other corporate financial reports such as the accounts receivables, accounts payable, general ledger and the asset management reports.Corporate administration component plays a critical role in providing the necessary information to the top management to get a general idea of the health of the retail business by way of the various financial reports generated by this component provided in the retail ERP systems VENDOR NAME AND ERP SYSTEM PRODUCT SAP SAP for Retail Oracle Oracle Retail Merchandising System (ORMS) The Sage Group Sage Pro ERP Microsoft Dynamics Microsoft Dynamics NAV AL data AL data G.O.L.D. JDA software Portfolio Merchandise Management (PMM) Island Pacific Island Pacific Merchandising System (IPMS) Jesta I.S. Vision Merchandising suite NSB Group Connected Retailer Merchandising Tomax Tomax Merchandise Management GERS GERS Merchandising Retalix Retalix HQ
  16. 16. ERP ADVANTAGES DISADVANTAGES SYSTEMS  Retail version of SAP offers  comprehensive user-friendly features. SAP  SAP being a market leader in the ERP SAP Retail Software is very expensive.  In order to use the ERP package, domain defines the market standards in this segment.  undergo a basic minimum level Highly scalable to adjust to the size of training for using the product and scope of the software user.  the end-users are expected to effectively. SAP for Retail can be customized as per the requirement of retailer.  Superior networking offers features for  Incompatibility issues real-time applications. ORACLE  with similar products and Cost effective in comparison to SAP systems. System  Requirement of hardware resource for the product  The Sage The Sage Pro ERP offers a Graphical  User Interface which is easy even for Group the new users.  Product requires minimum hardware resources. Difficulty in integrating the product with other systems.  Issues raises in use of the product when scalability takes place.
  17. 17. POINT OF SALES - POS Point of sale refers to the physical location at which goods are sold to customers.It provides up to date information on sales of different brands, size, color, styles, prices, etc. Under point of sale technologies, specialized terminals or desktops are combined with bar coding readers, magnetic stripe readers and cash registers for accurately and instantly capturing the sale transaction. The main advantage of moving to computerized POS system over cash box system is the sophisticated and detailed sales report it provides. It helps to analyze sales on basis of SKUs, time period, promotions, by store etc. POS is such a system that it will pay itself quickly in the time, money and labor saved and increased sales there upon. Benefits:  No double entry of orders and no more long checkout lines  Improving customer relationship by providing convenience in shopping  Securing the business transaction  Standardization is maintained  Necessary information regarding the merchandise can be provided  Helps in predicting trends  Speed, accuracy of operations increases  Reduces employee shrinkage  Reduce costly inventory overhead
  19. 19. COLLABORATIVE PLANNING, FORECASTING, AND REPLENISHMENT – CPFR Collaborative planning, forecasting and replenishment is a business model in which retailer and manufacturer extend collaboration from operation planning to the execution through internet based technology. Planning Develop Collaborative Agreement - Create Joint Business Plan Forecasting Create sales forecast – Identify exceptions to sales forecast – Collaborate on exception issues – Create order forecast – Identify order exceptions – Resolve on exception items Replenishment Order generation The vital aspect to CPFR is exception-based communication which is an automated system in which the usual exceptions such as order cancellations or last-minute changes to delivery destination are handled smoothly by the CPFR system’s information technology platforms.
  20. 20. Benefits  Increases sales and profit  Rapid deployment and integration of new applications  Improves customer service with proper fulfillment of demand  Accessibility via Web browser, desktop, laptop, or through a variety of handheld devices  Improves relationship with key trading partner and retailer Applications  Formulating accurate forecast of demand, stock can be reduced and materials can be more effectively managed throughout the supply chain resulting in decrease in inventory levels with improved material flow.  Customer service enhances through better forecasting and thereby wrong stock on hand can be avoided with increasing sales and improving delivery performance.  Increases employee productivity because data is centralized  With effective collaborative planning, forecasting and replenishment technology solutions, both manufacturers and retailers benefit from reduced overhead costs because several inefficiencies are eliminated, antiquated manual processes, custom integrations of different partner IT systems and searching for information in multiple sources/systems.  It integrates with various systems like CRM, Point of sales, ERP etc. and gives out acute forecasting.  There are many aspect not covered under CPFR like demand management, real time collaboration and other related parties i.e. forwarders, warehouses operators, transporters etc. are not considered. CPFR Solutions Provider – Dummond, VICS, Binary spectrum
  21. 21. DATA WAREHOUSING AND DATA MINING Data warehousing is the coordinated and periodic copying of data from various sources, both inside and outside the enterprise, into an environment ready for analytical and informational processing. Data warehousing in retail is done through information from POS, cards payment, inventory supply – usage, billing, vendors store data, merchandise and it related information, customer and it type of purchase, spending, preference, choices etc. Data mining is the in-depth analysis of information to gain specific insights about customers, product categories, vendors, supply chain, inventory, merchandise etc. Data mining help companies in better understanding of the vast volume of data collected by the CRM systems.Retailer collects large amount of data on sales and customer shopping history. Data collected by the retailer continues to expand rapidly, especially due to the increasing ease, availability and popularity of the business conducted on web or e-commerce. Retailer can provides a rich source for data mining. Retail data mining can help identify customer behavior, discover customer shopping patterns and trends, improve the quality of customer service, achieve better customer retention and satisfaction, enhance goods consumption ratios design more effective goods transportation and distribution policies and reduce the cost of business.
  22. 22. Applications Performing basket analysis Items customers tend to purchase together can be known thus helps to improve stocking, store layout strategies, and promotions. Sales forecasting Based on the trends and pattern of previous sales helps retailers to make stocking decisions. Database marketing Retailers can develop profiles of customers with certain behaviors, purchase, choice etc. and this information can be used to focus on cost–effective promotions.Having access to customers contact details and their service or purchase preferences through databases etc. can enable organizations to alert customers to new, similar or alternative services or products Merchandise planning and allocation Merchandise planning and allocation become easy as patterns in stores with similar demographic characteristics. Retailers can also determine the ideal layout for a specific store. Product Movement and Supply chain Based on the analysis of movement of specific products and the quantity of products sold, retailers can predict when they will need to order more stock. Product sales data allows merchandisers to define which products to order, the maximum of units and the frequency of reorders. Automated replenishment - Supplier Information can be known - Improves customer care Rapid development of new product - Integration of business and store operations
  23. 23. CUSTOMER RELATIONSHIP MANAGEMENT CRM is concerned with the creation, development and enhancement of individualised customer relationships with carefully targeted customers and customer groups resulting in maximizing their total customer life-time value. Customer relationship management means wide integration of technologies working together such as data warehouse, web site, and intranet/extranet, phone support system, accounting, sales, marketing and production. CRM uses information technology to gather data, which can then be used to develop information acquired to create a more personal interaction with the customer. In the long-term, it produces a method of continuous analysis and reinforcement in order to enhance customer’s lifetime value with firms. Customer Relationship Management (CRM) is enabled by the gathering and warehousing of consumer data.For CRM, data warehousing is done by collecting consumer data from credit card transactions, loyalty cards, discount coupons, customer complaint calls, plus (public) lifestyle studies. “The ultimate goal of CRM is to provide a one-to one personalized service to each customer – pre and post-sale”
  24. 24. Applications  Customer segmentation is a vital ingredient in a retail organization's marketing recipe. It can offer insights into how different segments respond to shifts in demographics, fashions and trends.  Retailers use the vast amount of customer information available with them to cross sell other products at the time of purchase.  Find associations/co-relations between product sales, & predict based on such association  Improve the quality of customer service  Achieve better customer retention and satisfaction  Enhance goods consumption ratios  Design more effective goods transportation and distribution policies  Increased customer satisfaction, because they are getting exactly what they want meeting and exceeding expectations Loyalty programs are set up to reward customers with incentives such as discounts on purchases, free food, gifts, or even cruises or trips in return for their repeated business. Retailers use them for three reasons to retain loyal customers to increase loyalty of non-loyal customer to collect information about them and what they buy Loyalty Membership cards - The primary role of a retailer loyalty card is to gather data about customers. This in turn leads to customer comprehension and cost insights (e.g. customer retention rates at different spending levels, response rates to offers, new customer conversion rates, and where money is being wasted on circulars), followed by appropriate marketing action and follow-up analysis.
  25. 25. Benefits: Increased customer satisfaction  Ensuring that the focus of the organisation is external  Growth in numbers of customers  Maximisation of opportunities  Increased access to a source of market and competitor information  Highlighting poor operational processes  Long term profitability and sustainability CRM is potentially a useful concept in the marketing and customer service areas of a retail sector. The information and data attainable from a retail sector’s customers is so deep and detailed, that the potential of CRM in this sector is enormous. However before CRM can even be considered, the retail sector must ensure it has its retail basics in order. Most recommended CRM Soft wares are RetailStar, Epicor retail solutions, Microsoft retail management system etc.
  26. 26. E-RETAILING E-retailing means electronic retailing i.e. selling of products or services via internet or telecommunication network for personal or household use by customers. The primary purpose of every e-retailer is to attract the prospective consumer to access to his site. However in online shopping, customer retention is the toughest thing because of availability of same product on different channels. TYPES OF E-TAILERS PURE-PLAY E-TAILERS A Firm that sell directly to consumers using primary means as internet without maintaining a physical sales channel Eg: -
  27. 27. BRICKS AND CLICK E-RETAILERS Brick-and-click retailers that offers merchandise not through a physical store but also through a transactional website. Applications  Customers have a much wider choice at one click as many e-tail sites are available. Thus the web creates global markets that bring together many consumers and many retailers.  With web search capabilities, comparison and selection becomes easier to find the types of goods a customer is searching for, catalogs are received passively on part of retailer.  E-tailers can use price discrimination more efficiently than catalog retailers  E-tailers can use previous transactions to identify the likelihood of products being purchased at certain price points and can accordingly make offers and provide reward to the customers  E-tailers can change the product display based on regular basis to increase the visibility of goods that the user is more likely to purchase based on past transactions.  Creating website is cheaper than opening a store and can reach consumer online anywhere in the world.  With multiple channel available, consumer get ease in shopping as per his requirement he can proceeds transaction.
  28. 28.  E-tailer is not required to maintain showrooms or warehouse at prime location and no maintenance cost pertaining to that helps to be cost effective.  The one of the important factor is better interaction with customers as it has the ability to reach customer on an individual basis and accordingly responding to them. Benefits  Caters Global market base of consumer  High brand recognition  Gathers information about consumers  Avoids direct costs for catalogues  Digitized format  Ability to react quickly to changes of customers tastes and demands  Ability to rapidly change visual presentation for goods.  Guarantee provided by highly reliable or well-known vendors  Online stores are round the clock i.e. 24*7  Saves times and effort  Get detailed information about the product. Disadvantages: Inconvenience in case of returning damaged goods and exchanging good  Cost added for website maintenance and updation on regular basis  Delay in delivery of goods to the consumer as compared to physical store shopping  Lack of consumers trust in online brand names and a sense of fraud and security as ability to inspect merchandise before purchases are not there.  Privacy issues and spams  No negotiation and bargaining can take place on place of consumer The e-trailing has come with great opportunities and advantages both for the retailer as well as consumer. With the coming time, more of such innovative e-tailing models are likely to come upon and cater the market with a competitive edge to the retailer over others.
  29. 29. MOBILE TECHNOLOGY Arrival of mobile technology has brought in a new process both for the retailer as well as the consumer. Right from shopping lists saved in draft messages to scanning QR codes, mobile technology now plays a big role in the purchasing decision. Using mobile phones to alert shoppers about complementary items, sales and as a vehicle for coupons is a very attractive option for retailers. Partially, that's because it's a lot cheaper than, say, a smart shopping cart. Most shoppers already have cell phones, so that limits the back-end investment. Third party companies are also rushing in with solutions.
  30. 30. Retail advertising Integrating mobile in the marketing mix is not a new trend anymore. To promote its new Curve ID jeans series, Levi’s resorted to mobile display advertising to targeted group of women. These ads were flashed on web and in-apps to attract the right TG. In-store interaction Not utilizing the device that is always with consumers for better engagement is simply not an option anymore. To enhance purchase experience, a number of stores have adopted QR codes to integrate products for consumers to research and decide. Marketers have also started engaging customers with the convenience proposition, thus bringing in services such an m-payment and m-check out. To take in-shop interaction to a different level, supermarkets have been creating applications that offer the map of the arena to the consumer who can plan the entire shopping trip according the priority on their list, self-scan items as they are added to the basket, get more detailed or personalized information about products using extended, packaging, gather in-store coupons and reductions, order products that are out of stock, add additional items to shopping list or wish list etc.
  31. 31. Out-of-store interaction It basically means to reach out to the consumer beyond the shopping experience. Supermarkets have thus been seen adopting QR codes outside the malls in areas such as parking lots or near the elevators to attract consumers, who is given an opportunity to check out the products without entering the store. Checkouts Consumers can use their mobile phone at check out for self-checkout, redeem coupons and promotions, pay, identify themselves and get access to loyalty scheme benefits, store points and redeem offer linked to a loyalty scheme.
  32. 32. DEBIT –CREDIT CARDS Payment through debit and credit cards i.e. plastic money has become quite widespread This enables a fast and easy payment process and offer customers with all kinds of extras that cash doesn’t. Depending on your card, you may earn one or more rewards. Benefits:  No need of carrying cash  Provide convenience and hassle less shopping  Provide security of payment  Universal acceptance helps to access and carry out purchase anywhere  Data record takes place which help banks and retailer  Value added service  Essentials for mail, phone or internet purchase
  33. 33. QR CODES QR codes can be a really easy to use and beneficial tool in the world of retail. A great way to use QR codes in retail is to place a mobile barcode on the tag of every item in the store. This way, potential customers can scan the code and look at product specifications as well as reviews of the product they are interested in buying. Applications  QR codes from the window displays to access product and brand information which is an effective use of a store window display.  Featuring QR codes on promotional materials such as magazine or on boards’ adverts results in increased brand-to-consumer engagement, increasing the time the consumer is interacting with your promotional materials and the brand of their concern.  Mobilizing online retail sites, social media profiles such as Twitter and Facebook  Provides offers, discount coupons, tips, comparisons of products, availability etc.
  34. 34. CLOUD COMPUTING Cloud computing allows users to obtain computing capabilities regardless of their physical location fashion through a shared physical infrastructure via internet. A full range of services, including compute, storage, applications, and business processes, is now available from thirdparty cloud providers. These services can be obtained using various sourcing models ranging from managed hosting to pay-for-use. It reduces complexity for retailers and provides opportunities for high returns. Real-time insight enables the retailers to keep repo with customer programs as necessary and straightaway report problems with supply chain, merchandising, inventory or marketing departments.Maintaining 100s of computers and managing an information technology department are not only challenging responsibilities, but they are also very expensive interpretations. Cloud computing allows retailers to manage these acute applications centrally, thereby reducing both costs as well as complexity of handling.
  35. 35. Benefits: Cost savings  Streamlined processes  Increased productivity  Simplicity and Convenience  Higher Flexibility  Secure communications  Scalability  Customer experience is enhanced through faster, easier transactions. Applications  Scenario modeling,  Forecasting  Pricing optimization Real-time analytics provide retailers with real-time insight into the current performance of business operations in comparison to key performance indicators.  Virtualization of data center and store computing resources to increase utilization with integration of all data bases.  Network-based designs that centralize IT resources, reduce costs, and serve mobile workers.  Sourcing of computing services in pre-assembled stacks to speed delivery of new retail solutions and reducing cost thereby  Flexible payment models to ease the burden of financing large capital expenditures Cloud Computing Solutions - Dell Boomi, Preditix, Verizon
  36. 36. ELECTRONIC DATA INTERCHANGE - EDI Electronic data interchange is the computer to computer exchange of routine business data with trading partner – supplier like purchase order, invoice, account payableaccount receivables, payments, inventory, supply chain etc. and integrating information on real time basis. Applications  Data can move directly out of one computer system and into another fast without any delay  Proper inventory level and supply chain can be developed  Real time information regarding various aspect of business can be obtained and better decision making can take place.  EDI standards specify in which way data will be configured and where it can be found.  EDI can be retrieved only by authorized users, and then there are audit trails as well as archives of information data put in.  EDI data cannot be easily changed by unauthorized users or the person not integrated with the system. EDI Soft wares - SaaS, QuickBooks, B2BGateway, Ventalk
  37. 37. GLOBAL DATA SYNCHRONIZATION NETWORK – GDSN GDSN is an automated - standards-based global environment that enables secure and continuous data synchronization, allowing trading partners in the supply chain to have consistent item data in their systems at the same time. Master data across remains same for all the partners. Any business partner makes a change in the master data especially product master, a simultaneous change will be initiated in the database of all the other parties interested that is the suppliers, company and the customers and thus all the parties in the value chain maintain the same master data avoiding confusion and errors.
  38. 38. VIDEO CONFERENCING Video Conferencing enables real-time collaboration between retailers, stores, suppliers, warehouses, buyers, and sales teams, which ultimately leads to better customer service and supply chain management. Retailers are turning to video conferencing on the sales floor and also back of the store to provide better customer service, merchandise management and improved internal communication. It also helps retailer stores at times in saving money by not retaining employees at physical location as information can be accessed by customer through a video configured. Retailers need to continuously engross and keep up to customer’s expectation of service as they are the differentiator and possess the ability to respond quickly to market trends. Benefits: Better coordination  Real-time information access and effective decision making  Increased customer service levels - faster response to market and consumer demands.  Sharing of information among various parties as to buyers, suppliers, warehouses and concerned  Increases store connectivity  Access to remote staff become easy  Time saving and cost conscious
  39. 39. Applications  Retailers can increase improve store operations, employee productivity, and enhances customer satisfaction by doing timely communication.  Retailer can aid inventory checks, remote support, remote team meetings, last-minute specials and new incentive programs.  Headquarters has faster access to sales reports, employee information, and remote expertise.  Inventory levels and sales turnover can be shared between a retailer and a central store.  Expertise from distant location can be brought in for technical support.  Company meetings can be held for incentive programs, targets, goals can be shared.  Real-time collaboration enables better forecasting, more timely inventory checks and balances, accurate tracking of shipping status and orders, and right procurement. The result  Video conferencing-enabled customer service kiosk provides customer by providing them information through face-to-face, interactive communications with distant staff making it possible to meet consumers demand and changing market trends.  Training required for particular product usage or regarding some new techniques of work can easily be communicated and demonstrated through conferencing sitting at other corner of the world
  40. 40. Wi-Fi Wi-Fi technology has matured and retailers have begun to see it as a vigorous, inexpensive option for inside the store connectivity. The contemporary development of handhelds has broadened the retailer's options for application delivery. As Wi-Fi becomes available on wider range of mobile phones, retailers have an opportunity to provide data to consumers using their own Wi-Fi networks. This would help in avoid the cost of connecting to a mobile operator network and being able to deliver data such as pricing in a more secure way. However, it also has significant infrastructure implications with Wi-Fi enabled handheld devices, applications such as POS, inventory audit, item lookup, pricing and labor scheduling can be used anywhere on the sales floor. Retailer always tries to give customer maximum satisfaction by providing additional information in-store while making purchase and enable him to access Wi-Fi thus helping the customers and less time in handling mundane task
  41. 41. SECURITY Retailers face many challenges in keeping the store secure. Security concerns for retailer mainly include customer safety, standardization of different security systems, education and training of employees and security staff. Retailers now benefit from store protection methods including camera systems, which can record criminal activity in stores, as well as tagging systems, placed by shop entrances, which alert staff to thefts retailers can reduce the cost and complexity of protecting customer information with solutions that allow retailers to secure consumer data inside their organizations, and achieve compliance with all retail data privacy mandates.Retailers can reduce the cost and complexity of protecting customer information with solutions that allow retailers to secure consumer data, merchandise and things related to it inside the organizations, and achieve compliance with all retail data privacy CCTV Camera DETECTIONS DOORS SECURITY TAGS DETACHERS
  42. 42. CONLCUSIONS Retailers need to invest much more in capturing more specific technologies and catering large customer base with ease. On part of retailer it is very important to keep integration between various technologies engraved in business because this will lead to effective and profitable transactions both for the retailers as well as consumers. .Retailers has started using their own web portal or tie ups with horizontal players like to offer products on the web.Innovations of information technology continue to improve the capabilities of organizations to retain and distribute information. Real time information gathering technologies and decision support systems promote real time decision making to benefit retailer however use of technology in unorganized retail is in its primitive stage. The buying behavior is undergoing a change across the globe with e-tailing slowly is making its presence felt therefore, it will become important for retailers to secure a distinctive position in the marketplace based on value, relationships or experience.
  43. 43. LIMITATION  Secondary day can be general and vague and may not be really help the retailer in decision making.  The data may be old and out dated.  Articles, blogs, white paper may not be reputable.  Some of the technologies are yet not being developed fully
  44. 44. BIBLIOGRAPHY http:// Retail-Industry-in-India-Information-Technology-in-Retail.aspx http:// Retail-df/technolog.aspx