Retail Management Information System,meaning ,importance,Factors,Universal product code,Radio frequency identification.

2.  Management information systems have several applications in the
retail industry. MIS is the systematic use of technology and people to
manage the flow of information.
 In retail, MIS is used for point-of-sale data collection, logistics,
inventory control and internal communication, all of which affect
retail operations and marketing.

3.  Retailers like Wal-Mart, Zara, Amazon, Metro, continue to
effectively use new and emerging technologies to stay continually
relevant to the ever changing consumer around the world.
 In India, organizations like GCMMF, Asian Paints, HLL and
McDonald have effectively harnessed the power of emerging
technologies to control costs, enhance supply chain efficiencies and
achieve differentiation in the marketplace in terms of product and
service.

4.  Transaction processing system
 Supply Chain improvement.
 Reduce unsold inventory through online auctions.
 Efficiency across business functions
 Data processing and analysis
 Customer experience and loyalty.
 Advertising and promotions

5. What is a Universal Product Code (UPC)?
 A UPC, short for universal product code, is a type of code printed
on retail product packaging to aid in identifying a particular item.
 The purpose of UPCs is to make it easy to identify product
features, such as the brand name, item, size, and color, when an
item is scanned at checkout.
 UPCs are also helpful in tracking inventory within a store or
warehouse.

7.  Efficient stocking of merchandise
 Collection of data
 Efficiency in operations
 Helps Communication

8. EFFICIENT STOCKING OF MERCHANDISE
 Basis of sales analysis and decision on replenishment
 Re-ordering and merchandise planning
 Trends in sales can be analyzed it helps to avoid situation of stock
out, spot merchandise or product, higher inventory turns.
HELPS COMMUNICATION:
 Retailers stores can also communicate with each other and with
the warehouse
 Electronic Data Interchange can also e used for communication
with suppliers and vendors.

9. COLLECTION OF DATA
 Data can be about consumers, purchases, frequency of buying and
typical basket size
 Customer preference for certain brands can be identified.
EFFICIENCY IN OPERATIONS:
 Serves as a basis for integrating the functioning of various
departments
 Automated process, billing etc reduce times

10.  Scale and scope of operations
 Financial resources available to the organization
 Nature of the business
 Human resources available

11. • Customer data
Many retailers struggle with information overload because
they’re required to collect and sift through mass amounts of data, then
convert it into useful information in a customer- centric industry.
• Transparency and tracking
Retailers must increase transparency between systems, as well as obtain better
tracking to integrate systems from manufacturer through to the consumer
while obtaining customer and sales information.

12. • Global data synchronization
Due to radio frequency identification/electronic product coding, the
entire supply chain has become more intelligent.
Retailers must enable the use of real-time data to watch inventory
levels. In addition, radio frequency identification tagging positions
the company to be able to safeguard its shipments by allowing
products to be tracked from manufacturer through the entire supply
chain.

13.  Electronic Data Interchange (EDI) refers to the structured
transmission of data between organizations by electronic means.
• A way to exchange transcripts (and other important data) without
paper.
EDI can be transmitted using any methodology agreed to by the
sender and recipient. This includes a variety of technologies,
including modem (asynchronous, and bisynchronous), FTP, Email,
HTTP, AS1, AS2, etc

14. Working of EDI
1. Exchange of data with several trading partners directly in a standard
format.
2. Interaction with multiple companies through a central information
clearing house. Here each companies add EDI program to its
computer to translate the company data into standard formats for
transmission, and for reverse translation in the data.

15. Company XYZ
Computer
with EDI
software
EDI Service
Network
Vendors
Customers
Branch
Office
Distributors
Stores
Banks
Transporters
Notes, Documents,
Images, Letters,
Purchase Orders,
Invoice, Queries,
Order Entry,
Shipment Details,
Payment Orders,
Bankers Advice,
Miscellaneous claims.

16. • Generation of a paper document on a form by software application.
• Delivery of a few copies of document to the internal dept to be filed
and others to the trade partners via postal service.
• Retyping the document received by the trading partner on the form into
their computers which may offer introduce errors.
• Generation of a paper acknowledgement and sending it to the
originating company.
• Generation of a file containing the processed document by the
application program.

17. • Conversion of the document into agreed standard
format.
• Electronic transmission of the file containing the
document over the network , which may link the
originating company and its trading partner.
• Automatic generation of the receipt and its delivery over the
network to the originating company.

18. 1. Radio Frequency Identification (RFID)
•As name implies, RFID is an ID-identification- system
• Relies on a small chip that is implanted in a tag.
•The chip can record and store data, such as a serial number, price or
purchase record.
•Electronic scanner can use radio signals to
read or track the ID tag.

19. RFID Smart Labeling
• Monitor unattended inventory
• Shipping and Receiving applications
• Provide real time tracking and locating of tagged
items on shelves
Check-out Process
• Reduce time spent in line
Reduce labor/time cost of employees
Streamline check-out process with ability to
scan multiple items and pay for them all at
once
Inventory Control

20. • Point Of Sale.Thephysical location of atransaction
but usually refers to any device or systemused to
record the transaction for theretailer.
• CPOS: Acomputer-based POSwhich employs
software to implement thePOSfunctionality
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21. • UserInterface
• Inventory
• Reports
• Invoicing
• Receivables
• AccountsPayable
• Credit CardPayments

22. • Display / Touchscreen
• CashDrawer
• Receipt Printer
• Bar code scanner (fixed, attached,portable)
• Label / Report printer
• Mag stripe reader
• POSKeyboard
• Scales
• PDA
• Pole Display
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23.  This approach combines vision cognition technology with machine
learning to accurately account for shopper behavior and product where
abouts in-store.
 you download an app and scan it when you enter the store. After that,
you’re free to pick up whatever you want and then simply walk out.
 A combination of overhead cameras and sensors on its shelves, along with
its AI-driven software, to follow your every move and keep track of
everything you grab off the shelves, using sensors. If someone tried to
steal something, they would still get charged for the item.

24.  AI-powered shopping cart is a plug-and-play solution—no
installation is required
 Shoppers can simply throw items into their cart, and built-in sensors
identify the items and tally a virtual basket.
 During the shopping journey, It helps shoppers discover in-store
deals with its interactive screen. Once done, they can conveniently
pay on the cart and leave the store
 Eg: Caper shopping cart

25.  An electronic shelf label (ESL) system is used by retailers for
displaying product pricing on shelves. The product pricing are
automatically updated whenever a price is changed from a central
control server.
 Eg: RSG Inc Electronic Shelf Labeling

26.  Virtual Reality (VR) literally makes it possible to experience anything,
anywhere, anytime.
 It is the most immersive type of reality technology and can convince the
human brain that it is somewhere it is really not.
 Head mounted displays are used with headphones and hand controllers to
provide a fully immersive experience.
 Eg: Specsavers’ Frame Styler tool