Use of information technology in retail

1. Use Of Information Technology in Retail
MMS (17-19)
Welingkar Institute Of Management

2. Retail Without IT

3. Retail without IT
1. Inventory Management
2. Stock out
3. Opportunity loss
4. Slow processing
5. Improper display of Products
6. No proper customer relationship
7. Lack of customer experience

4. Retail After IT

5. Retail after IT
1. Transaction processing system
2. Management Information system
3. Knowledge Managment system
4. Decision support system

6. Importance Of IT in retail
• With the increasing globalization of retailing, both in terms of their
points-of-sale and points-of-supply;The Information Technology
spend in the retail has increased significantly.IT plays an important
role in managment of complex retail operations.
• Market knowledge as well as control of data and information,is key
to obtaining a competitive advantage in retail.Markets are
continuing to grow and become more complex;the simple process
of retailing has started to deploy more advanced retail information
systems to cope with all the transactions involved.

7. IT involvement in Retail
1. To increase the company’s ability to respond to the evolving
marketplace through enhanced speed and flexibility.
2. To collect and analyze customer data while enhancing
differentiation.
3. To work effectively; retailors need one system working across
store to make sure effective use of stock and improve business
process.
4. Retailors are beginning to notice that technology’s role is one of
an enabler.Essentially IT can speed up processes and deliver cost
saving benefits to the company.

8. Customer relationship management
1. Knowing customer
2. Acquiring customer
3. Retaining customer
4. Loyalty program
5. Promotion
6. Identifying new selling opportunities
7. Create detailed customer profiles

9. E-Retail
• Electronic retailing is the sale of goods and services through
the internet. Electronic retailing, or e-tailing, can include
business-to-business (B2B) and business-to-consumer (B2C)
sales of products and services, through subscriptions to
website content, or through advertising. E-tailing requires
businesses to tailor traditional business models to the internet
and its users.

11. Definition Of POS
• Point of sale-It is the physical location of a transaction
but usually refers to any device or system used to record
the transaction for retailor.
• CPOS: A computer based POS which employs software to
implement the POS functionality.

13. POS Softwares
1. User Interface
2. Inventory
3. Reports
4. Invoicing
5. Receivable
6. Accounts Payable
7. Credit card payments

14. POS Hardware components
1. Display/touch screen
2. Cash Drawer
3. Receipt Printer
4. Bar code scanner
5. Label Printer
6. Mag strip reader
7. POS keyboards
8. Scales
9. PDA
10. Pole display