TECHNOLOGY IN RETAILING
Submitted By: Submitted to:
Nishu And Tanya DR. Ubba Savita
170101050028
170101050023
CONTENTS
Introduction
ERP - ENTERPRISE RESOURCE PLANNING
Radio Frequency Identification (RFID)
Point of sale ( POS)
Information Technology in Reliance Fresh
Technology in Apparel Industry
PLAN-O-GRAMS
E-RETAILING
TYPES OF E-TAILERS
Mobile Technology in Retail
QR CODES
DEBIT –CREDIT CARDS
Security in Retail
Wi-Fi
Conclusion
INTRODUCTION
The rise of online shopping induced a plague upon brick-
and-mortar stores. E-commerce capitalized on
consumer's desire for convenience: Why get in your car
and drive to a store -- where you may or may not find
what you're looking for -- when you can just order it
online? This culture shift led some 9,000 stores to close
down in 2017 -- a number expected to increase to 12,000
in 2018, according to real estate firm
Cushman and Wakefield
If brick-and-mortar stores want to stay open and stay
competitive with digital natives, they must revolutionize the
way they reach customers. However, implementing
technology for the sake of doing so isn't productive. Instead,
retailers must turn their attention to the customer, and how
they have changed in recent years.
"So many retailers are failing because there's still a
disconnect with who the consumer is, and what they shop,
and why they shop, and how they shop," said Brian Solis, a
principal analyst at Altimeter Group.
ERP - ENTERPRISE RESOURCE
PLANNING
ERP - ENTERPRISE RESOURCE
PLANNING
Enterprise resource planning helps in integrating all
departments and functions within a company in a single
computer system that serves the specific needs of different
departments. It is often referred as back-office software and
does not run the up-front selling process.
Enterprise Resource Planning is designed to plan the use of
enterprise-wide resources. Various ERP vendors have
developed retail-specific systems which help in integrating
all the functions from warehousing to distribution, front and
back office store systems and merchandising. An integrated
supply chain helps the retailer in maintaining his stocks,
getting his supplies on time, preventing stock outs and thus
reducing his costs, while servicing the customer better.
BENEFITS OF ERP
Superior Customer Service
Drive better customer relationship
Robust Analytics Engine
Merchandise Planning
Targeted promotions across stores.
Strong process integration across Sales and Supply
Chain network
Efficient stock distribution.
Flexible deployment options.
Highly Scalable solution with large retailers
Highly configurable solution
APPLICATIONS - COMPONENTS OF
RETAIL ERP SYSTEM
Merchandise Management
Merchandise management includes activities like setting up,
maintenance and management of the retail outlet, keeping
track of the prices of the items, inventory, and the different
vendors etc. thus takes in to account all the activities related to
the management of the merchandise offered for sale at the
retail store.
Retail Planning
Retail Planning focuses on the different strategies to be
employed in order to help the retail store in increasing the
sales of the merchandise. It helps to achieve the economies of
scale and attaining the desired efficiencies by increasing the
merchandise sales at the retail outlets.
Supply chain planning
focuses on integral part of retail i.e. planning as well as the execution of the
supply chain system for the retailer and keep a track on supply system from the
place of the manufacturer to the end customer. It provides the complete track
record and material flow from beginning at the manufacturer and ending at the
consumer
Store Operations
The store operations component keeps track and guarantees the proper functioning
of the entire store operations like store specific inventory management, sales audit,
returns management, perishables management and the labor management,
customer management and the associated promotion execution systems.
Administration Management
Retail ERP system automatically sends the day to day details to the Admin
containing total sales, workforce, accounts etc. The report generated helps the top
management to take
RADIO FREQUENCY IDENTIFICATION
(RFID)
As name implies, RFID is an ID-identification system
Relies on a small chip that is implanted in a tag.
The chip can record and store data, such as a serial
number, price or purchase record.
Electronic scanner can use radio signals to read or track
the ID tag
USE OF RFID IN RETAIL
RFID Smart Labeling
Monitor unattended inventory
Shipping and Receiving applications
Provide real time tracking and locating of tagged items on shelves
Check-out Process
Reduce time spent in line
Reduce labor/time cost of employees
Streamline check-out process with ability to scan multiple items
and pay for them all at once
Inventory Control
POINT OF SALE ( POS)
A POS system, or point of sale, is a combination of
hardware and software built to centralize business
operations. It manages the transactions for your business,
including credit card processing, and the post-transaction
operations that lead to customer fulfillment, whether in a
retail or restaurant setting.
WHY YOU NEED A POINT OF SALE
In the retail business, a good point of sale system is one
of your biggest assets.
1. It can save you time
Speed up the checkout process
Speed up Inventory management
No need to dig through receipts
2. You’ll be in the know
Up to the minute sales reports
Know what’s hot and what’s not
Unbiased employee attendance monitoring
3. Better CRM
SmartOps System
Smartops( acquired by SAP) enterprise software solutions support
many initiatives and challenges associated with different
manufacturing and distribution industries from Lean Manufacturing,
Just-In-Time (JIT), and Six Sigma initiatives.
Warehouse management system( WMS) A Warehouse
management system (WMS) is software and processes that allow
organizations to control and administer warehouse operations from
the time goods or materials enter a warehouse until they move out.
Operations in a warehouse include inventory management, picking
processes and auditing.
Maintain real time physical inventories
Maintain distribution records
Merchandising flow can be accelerated
INFORMATION TECHNOLOGY IN
RELIANCE FRESH
Software – SAP
Billing counter- Scanners
Inventory Management Hand Held Terminals
TECHNOLOGY IN APPAREL INDUSTRY
Virtual Mannequins: This was shown by team Lab
Hanger at FRAPBOIS Exhibition. In this, customers
were shown triggering virtual mannequins while
removing a hanger from the rail.
Augmented Reality: American Apparel with the help
of Vuforia app used this concept at the point of sale to
unlock a range of options.
TECHNOLOGY IN APPAREL INDUSTRY
Browse and Order Hubs:
M&S Browse and Order Hubs T allow users to browse
the catalogue or scan barcodes on items and explore
product information.
Virtual Reality Catwalk Show:
Topshop in 2014 used this technology to live stream a
virtual reality experience of its London Fashion Week
show.
TECHNOLOGY IN APPAREL INDUSTRY
Virtual Rail: M&S virtual rail allow their customers to
browse through the entire catalogue with the help of
head height enabled screen. Not only this, it also
recommend the items according to your search.
MAGIC MIRRORS
It is not actually a mirror, rather a supersize computer
screen that can be operated by gesture or touch it allows
people to see how they will look with an outfit on before
trying it on
PLAN-O-GRAMS
A planogram is a visual diagram or a drawing that
provides retailers with a great amount of details on
where a product is to be placed in a store. It gives detail
on where in the aisle the products are to be placed and
which shelf as well.
Potential to use every square foot of space
Visual appeal
Inventory control
product positioning
E-RETAILING
E-retailing means electronic retailing i.e. selling of
products or services via internet or telecommunication
network for personal or household use by customers. The
primary purpose of every e-retailer is to attract the
prospective consumer to access to his site. However in
online shopping, customer retention is the toughest thing
because of availability of same product on different
channels
TYPES OF E-TAILERS
PURE-PLAY E-TAILERS A Firm that sell directly to
consumers using primary means as internet without
maintaining a physical sales channel Eg: - Amazon.com
BRICKS AND CLICK E-RETAILERS Brick-and-click
retailers that offers merchandise not through a physical
store but also through a transactional website.
QR CODES
QR codes can be a really easy to use and beneficial tool
in the world of retail. A great way to use QR codes in
retail is to place a mobile barcode on the tag of every
item in the store. This way, potential customers can scan
the code and look at product specifications as well as
reviews of the product they are interested in buying.
DEBIT –CREDIT CARDS
Payment through debit and credit cards i.e. plastic
money has become quite widespread This enables a fast
and easy payment process and offer customers with all
kinds of extras that cash doesn’t. Depending on your
card, you may earn one or more rewards
WI-FI
Wi-Fi technology has matured and retailers have begun
to see it as a vigorous, inexpensive option for inside the
store connectivity. The contemporary development of
handhelds has broadened the retailer's options for
application delivery. As Wi-Fi becomes available on
wider range of mobile phones, retailers have an
opportunity to provide data to consumers using their own
Wi-Fi networks. This would help in avoid the cost of
connecting to a mobile operator network and being able
to deliver data such as pricing in a more secure way.
CONCLUSION
Retail sector is seeing the advancement of technology
implied in all its types and orms. India is also developing
but needs more effectivelty access of technology in
retailing.
