It in Retail Store Operations
Impact of Information Technology in Store Operations
Research paper
Submitted by: -
Jigar Mehta
Roll no.21
PGDM-RM 2nd year
2007-2009.
Impact of Information Technology in Store Operations
Introduction: Retailing is a “technology-intensive" industry. It is a well-known fact that the retail industry always works on razor thin margins and the key to survival lies in optimization of resources both in space and time dimensions as well as maximization of customer satisfaction. Successful retailers today work closely with their vendors to predict consumer demand, shorten lead times, reduce inventory holding and ultimately save cost. Access to timely and even real-time information to a wide variety of channel and trading partners, sales personnel, line managers, store managers etc. is the key to achieving this. Over the years as the consumer demand increased and the retailers geared up to meet this increase, technology evolved rapidly to support this growth. It is technology that will help the retailers to score in such fierce competition. There are hardware and software tools that have now become almost essential for retailing. Consumers have come to expect more value and higher service levels. As a consequence, the technology continues to grow and retailers search for ways to measure technical business value and to balance the effective utilization of the technical resource. Retailers want to get more value out of technologies and ensure they are spending their limited resources in ways that improve their overall offer to the customer. Technology has proven to be a competitive weapon in retail, which is a dramatic shift from a decade ago. In response, retailers generally need to become more disciplined in managing the IT function. Completing and delivering IT projects on time and on budget is overwhelming enough without the project team considering their project’s interdependencies with other business initiatives and corporate goals.
Synopsis:
Research paper
Submitted by: -
Jigar Mehta
Roll no.21
PGDM-RM 2nd year
2007-2009.
Impact of Information Technology in Store Operations
Introduction: Retailing is a “technology-intensive" industry. It is a well-known fact that the retail industry always works on razor thin margins and the key to survival lies in optimization of resources both in space and time dimensions as well as maximization of customer satisfaction. Successful retailers today work closely with their vendors to predict consumer demand, shorten lead times, reduce inventory holding and ultimately save cost. Access to timely and even real-time information to a wide variety of channel and trading partners, sales personnel, line managers, store managers etc. is the key to achieving this. Over the years as the consumer demand increased and the retailers geared up to meet this increase, technology evolved rapidly to support this growth. It is technology that will help the retailers to score in such fierce competition. There are hardware and software tools that have now become almost essential for retailing. Consumers have come to expect more value and higher service levels. As a consequence, the technology continues to grow and retailers search for ways to measure technical business value and to balance the effective utilization of the technical resource. Retailers want to get more value out of technologies and ensure they are spending their limited resources in ways that improve their overall offer to the customer. Technology has proven to be a competitive weapon in retail, which is a dramatic shift from a decade ago. In response, retailers generally need to become more disciplined in managing the IT function. Completing and delivering IT projects on time and on budget is overwhelming enough without the project team considering their project’s interdependencies with other business initiatives and corporate goals.
Synopsis:
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