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INFORMATION TECHNOLOGY IN RETAILING

Retailing growth has demanded IT deployment to broaden its arena and overcome challenges namely Business Optimization, increasing SCM efficiency, innovating shopping experience and other manual limitations.

;Introducing Retailing in Current Scenario

The retail sales are at the highest point in history and new technologies are improving retail productivity. Though there are many opportunities to start a;new retail business, retailers are facing numerous challenges.

;? Improving efficiency of Supply Chain

? Improving the Shopping experience

? Business Optimization

Improving Efficiency of Supply Chain

Demand forecasting has assumed critical significance in managing supply chains efficiently. Having an agile supply chain network that seamlessly connects demand, supply and product remains the top priority for retailer and consumer companies.

We offer solutions that help attain more efficient movement of goods and information across the supply chain.

Supply chain improvement a critical Retailing investment comprises implementing ERP packages, forecasting tools, and others.

Improving the Shopping Experience ; Business Optimization

;Customer relationship management: Indian retailers are aggressively investing in Customer Relationship Management Solution for retaining; acquiring customers, brand management, to analyze consumer-buying behaviour, buying patterns of ?loyalty cardholders?, integration of multi-channel sales and others. Few feasible CRM solution packages are namely Talisma, Siebel, SAP, Retek CRM and Sales Logix.

Business Intelligence tools

B2B software is well suited for multi-channel retail business consolidating sales via Internet, mail catalog, phone/fax and point-of-sale (POS) terminals installed in physical shops.; The concept with multi-channel business is not new. This creates additional cross-sell opportunities and helps to improve business performance. The system has also in-built helpdesk (customer service) capabilities to provide managers with better visibility of current business activities across multi-channel retail operations on the Web.; Customer expectations for multi-channel retail are permanently growing, and companies must respond with more capabilities in their solutions. Business Optimization Software

Currently two US-based software product vendors Demand Tech and Khimetrics have come up with products to optimize the prices of individual products.

;CRM solution, Business Intelligence Tools, B2B software, RFID, Business Optimization software and ERP are some of the popular technological avenues for explosive Retailing that has identified IT as critical tool in its scenario.

Source: http://www.consiglierediparita.org/information-technology-in-retailing-with-indian-perspective

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