Information Technology to be an Integral part of Retail
With the increasing globalization in retail and the increasing entrants in the markets the competition to stay ahead and have sustainable profitability and growth is crucial for retailers. To have the competitive edge the use of Information technology has increased many folds and now it has become a necessity and part of business.
In fact it was not many years ago that IT was considered as a Cost center function in organization and limited budgets were allocated to IT which includes software, hardware, security, network etc.
But in Today’s’ age Information technology with offering catering to different industries including retail has changed the scenario. We all are happily surrounded by IT, right from the time we enter in a store to the time we leave. CCTV, RFID, Barcode, Scanners, POS, etc all have reduced the time consuming tasks and has increased the efficiency.
In addition to it retail software’s control the data in an efficient manner and not only keep track of accounts, Inventory, promotions, expiry, etc.. But provides valuable analytic and reporting, few other things are:
· Companies ability to respond to the evolving markets through enhances flexibility and agility
· Analyzing and enhancing customer data
· Helps in working effectively with One system across all stores with data synchronization
· Provide real time information.
· Saves a lot on Cost
· Transparency and tracking
· Handles Tax and much more
IT in retail or specifically the software for retail, plays many roles like of a supply chain system, Enterprise retail system, store operation systems and manages the entire retail store efficiently.
Web technologies have given a new dimension and revolution in the field of retail stores, it is technology that has given us the liberty and freedom to purchase anything anywhere just on a simple click of mouse or a touch on personal computer and smart phones.
To the likes of big ones like Amazon.com or flipcart.com, retailers can also have their own stores online an d can target their regional area by selling products online.
This is just a start, to provide excellent services and convenience to the end customer, many big giants are thinking of a step ahead for instance Amazon Prime air priding you your ordered item in 30 minutes, still under the R&D phase watch this Video http://www.amazon.com/b?node=8037720011
Yes it is technology of the future, but again its is technology which is touching our life every day and every minute.
With this we would conclude this blog, and I am sure retailers friends will always thrive to have the best of the solutions for their retail stores.