In-Store Technology II. Introduction III. In-S

The explosion in information technology that has characterized the last decades of the twentieth century has helped retailers address each of these areas. At the heart of the retail technology revolution is the computer, supported by peripherals and changes in communications that allow retailers to have access to more information than at any time in their history. The cash register has evolved into elaborate point of sale systems which can track not only how much is received, but the type of payment, demographic information about the customer, how many of the item the retailer has in stock, how many of the item the retailer should order, and how the item will be sent to the customer.

Technology now extends outside the st

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to use the information which the computer provides in order to maximize the efficiency of their department (Abrahms, 1991, p. 29). In-Store Technology - Inventory Management - Inventory Counting Knowing how much of an item is on hand affects not only purchasing decisions, but also indicates whether the store has a problem with shrinkage, or whether it is paying excessive carrying costs. Inventory valuation also has severe tax ramifications that retailers seek to minimize. Integrated computer systems are able to track inventory on a perpetual (real-time) basis. As items are sold, the point-of-sale system decrements the quantity on hand by the appropriate amount. The system processes the information and calculates reorder times and quantities. This process enables retailers to have an accurate record of how inventory is moving. Computers are still unable to physically count the number of items that are on the shelf and compare that figure to their internal calculations of what should be on the shelf. However, technology has advanced to the point where the number of individuals who must be involved with such physical counts has been significantly decreased, and the accuracy of the counts has been increased. This has come a
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Approximate Word count = 2081
Approximate Pages = 8 (250 words per page)