Technologies in Retail Industry

Technologies in Retail Industry Assignment Help Retail industry uses several technologies to control the inventory, supply chain management and other operations of business. Point of Sale (POS) is most critical technology used by retail firms. It is used by retail industry to control over sales, inventory and back office accounting (Thiesse & Condea, 2009). POS uses computer that are combined with cash registers, bar code readers, scanners and magnetic stripe readers to accurately capture the transactions.

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Radio frequency identification (RFID) is also used in retail industry for supply chain management. It uses electronic tags such as electronic label, transponder and code plate for storing data. RFID chip attached to an antenna with the item those transmitting ranges. Through the uses of RFID, sales staff locates a particular item in the store and check item availability in the store in less time. Success of retail business depends on company relationship with its customers. Customer relationship management (CRM) software is a critical technique for the retail business to build relationships with customers. CRM allows retailers to track its customers, identify market segments and communicate with them by email, direct mail, telephone, etc. Electronic Data Interchange (EDI) allows retailer to send purchase orders or business documents to their suppliers electronically by phone line, mail or internet. It is used by retail industry in supply chain management to share data with trading partners . EDI not only saves the time of retailer and suppliers, but also reduces the errors. It can reduce inventory carrying costs and labor processing costs. You can avail 24X7 business assignment help and case study assignment help from our experts. Our contact detail :

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