Effectiveness of Technology

In: Computers and Technology

Submitted By pmayger
Words 799
Pages 4
Effectiveness of Technology

Effectiveness of Technology
Retail management is the process or processes to aid the customer in procuring the desired good or service from a retail store for his or her end use. In the 21st century, technology is playing an increasing role in the overall success of the retail industry and retail management. “Information Systems, starting with customer records, inventory control, loss prevention, supply chain, workforce management and business intelligence changing the efficiency and effectiveness of retail operations to a point where retailers who do not embrace the technology move to the forefront of businesses that are doomed to fail” (DMS Retail, n.d.).
How Technology Changed the Role of Retail Managers
Any improvement to customer service is an improvement in retail management. Technology has proven to improve various aspects in service and management. For example technology in inventory control allows retailers to locate products throughout the retail store from the moment it is checked in from the receiving floor. When a customer calls to check on whether the retailer has a particular item in stock, there is no longer a need to walk through the entire store to check to see if a product is on the shelves. Time is saved by searching through the inventory system to see if the product is in stock. Retailers are now able to auto order new inventory based on information passed through the system on sales. When a good is sold at the point-of-sale (POS) the system removes the item from the inventory. When the product lowers to a set level or quantity, the system places an order for new inventory to be purchased and shipped to the store.
Customer information is collected on the internet for the organization to analyze and utilize. Trend forecasting is allowed through customer analysis allowing competitive advantage…...

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