Exercise no: 1 Retail Information System

1.1 Introduction
Retail management involves running a store where merchandise is sold. Retail management
information systems include the use of hardware, software and procedures to manage activities
such as planning, inventory control, financial management, logistics and point of sale
transactions. Use a retail management information system in your business when you need to
manage your store, finances and inventory from one office. New and Noteworthy:
Retail Information Systems (RIS) was recently recognized by Retail Pro with three 2014
Retail Pro Partner of the Year Awards at the annual Retail Pro Global Conference and Partner
Summit, for Sales Performance, New Customer Acquisition, and Service Excellence. Retail
Information Systems provides cost-effective, highly configurable and scalable Point of Sale and
Inventory Control software and hardware solutions to clients worldwide, from large
Retail/Wholesale chains to specialty retailers, in all types of sales channels.

Features
Retail management information systems support distributed stores by linking them. By
allowing the instant exchange of information, store managers can stay in contact to more
effectively control profits for the whole company. The system should support product
management. It should also enable detailed analysis of customer data. A flexible system allows
managers to set prices for variable time periods based on the store location. To meet the needs of
sales and inventory managers, retail management information systems include a mobile user
interface.

M.Dineshkumar
III B.com (pa)
12bco518

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Exercise no: 1 Retail Information System

Function
Supporting the basic functions of procurement, storage and delivery, a retail management
information system allows a manager to manage customers, inventory, suppliers and product
sales. The system allows you to track purchase orders and update inventory records dynamically.
You can analyze cash, check and credit card transactions to reconcile information. Improve
efficiency by examining overage and shortages to reveal trends that can be rectified.

1.2 Types
Retail management information systems can be customized for each industry, including,
for example, fashion, department store, supermarket, furniture or prescription drugs. Some
systems support multiple languages, currencies, tax systems and cost structures. In addition,
some retail management information systems can support different business models such as
franchise, consignment, direct sales or online.
Operations Support Systems

Operations support systems are generally used by managers at lower levels of the organization
those who run day-to-day business operations and make fairly routine decisions. They may
be transaction processing systems, process control systems, or design and production systems.

Transaction Processing Systems

Most of an organizations daily activities are recorded and processed by its transaction
processing system (TPS), which receives input data and converts them into output
informationintended for various users. Input data are called transactionsevents that affect a
business

M.Dineshkumar
III B.com (pa)
12bco518

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Exercise no: 1 Retail Information System

Process Control Systems

Process control refers to the application of technology to monitor and control physical processes.
Its useful, for example, in testing the temperature of food as its being prepared or gauging the
moisture content of paper as its being manufactured. Typically, it depends on sensors to collect
data periodically. The data are then analyzed by a computer programmed either to make
adjustments or to signal an operator.

Management Information Systems

A management information system (MIS) extracts data from a database to compile reports, such
as sales analyses, inventory-level reports, and financial statements, to help managers make
routine decisions. The type and form of the report depend on the information needs of a
particular manager.
Decision Support Systems

A decision support system (DSS) is an interactive system that collects, displays, and integrates
data from multiple sources to help managers make nonroutine decisions. For example, suppose
that a gaming company is considering a new casino in Pennsylvania (which has just legalized
slot machines.

RIS can be divided into 4 basic types

1. Transaction Processing Systems (TPS)

2. Management Information Systems (MIS)
3. Decision Support Systems (DSS)
4. Executive Support Systems(ESS)
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III B.com (pa)
12bco518

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Exercise no: 1 Retail Information System

Benefits
Integration between payments, inventory and transactions improves operations and
reduces costs by preventing duplicate entries. By tracking inventory effectively you can more
quickly respond to customer requests. By being able to respond expediently you can also
improve service, expand your customer base and increase profits. Accessing data easily allows
you to identify opportunities to improve waste reduction, recycling materials and choosing
environmentally friendly packaging. These strategies enable a profitable business. System
safeguards ensure adherence to legal restrictions on pricing, promotion and other policies.

1.3 Advantages of Retail Information System

A retail information system would anticipate the needs of the manager, while collecting and
organizing the stores data. Some advantages of having a retail information system can include:

Increased time of transaction speed which would reduce the time customers spend in line

Improve accuracy of sales and keep better track of inventory

1.4 Software Applied to Retail Information system

Software/Hardware Consulting
Application of IT in Retail Information system
Project Management
E-commerce
Website Design & Development
Mobile POS & Inventory Tools
Store Operations
Traffic Counting & Conversion
Merchandising
M.Dineshkumar
III B.com (pa)
12bco518

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Exercise no: 1 Retail Information System

Business Intelligence
In-house Customization Services

Software/Hardware Consulting
Technology has changed business exponentially. Companies that have the right systems and
software and whose employees are proficient in their use, have a significant competitive
advantage.
BPS understands the operational requirements of business and how information technology can
contribute to the success.

Applications of IT in Retail Information system

Automating Processes: Electronic Point of Sales (EPOS), Inventory Planning, Ordering

and Management
Collecting Data About Customers: Purchasing patterns of customers, segmentation,
personalization, customization of offers, loyalty programmes, store design and product
placements
Feedback on Marketing Decisions: EPOS data to study effects of promotions, prices, new
products and packaging changes
Communications: With suppliers, customers, internal.
Tools to Plan the Business: Software to plan, budget, forecast.
Adding Value to Retail Transactions: IT-assisted transactions (ATMs) may be preferred
by some customers, self-scanning, in-store kiosks for product and info. search.
Technologically-enabled Shopping: Internet shopping.

M.Dineshkumar
III B.com (pa)
12bco518

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Exercise no: 1 Retail Information System

Project Management

Project management, then, is the application of knowledge, skills and techniques to

execute projects effectively and efficiently. Its a strategic competency for organizations,
enabling them to tie project results to business goals and thus, better compete in their markets.
The development of software for an improved business process, the construction of a building or
bridge, the relief effort after a natural disaster, the expansion of sales into a new geographic
market all are projects.

E-Commerce (standalone or integration)

Electronic commerce, commonly known as E-commerce or eCommerce, is trading in
products or services using computer networks, such as the Internet. Electronic commerce draws
on technologies such as mobile commerce, electronic funds transfer,supply chain
management, Internet marketing, online transaction processing, electronic data
interchange (EDI), inventory management systems, and automated data collection systems.
Modern electronic commerce typically uses the World Wide Web for at least one part of the
transaction's life cycle, although it may also use other technologies such as e-mail.

Website Design & Development

Web design encompasses many different skills and disciplines in the production and
maintenance of websites. The different areas of web design include web graphic design;interface
design; authoring, including standardised code and proprietary software; user experience design;
and search engine optimization. Often many individuals will work in teams covering different
aspects of the design process, although some designers will cover them all.[1] The term web
design is normally used to describe the design process relating to the front-end (client side)
design of a website including writing mark up. Web design partially overlaps web engineering in
M.Dineshkumar
III B.com (pa)
12bco518

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Exercise no: 1 Retail Information System

the broader scope of web development. Web designers are expected to have an awareness
of usability and if their role involves creating mark up then they are also expected to be up to
date with web accessibility guidelines.

M.Dineshkumar
III B.com (pa)
12bco518

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