The Retail Industry and Information Technology
As markets enlarge and become more complex, the once simple process of retailing is employing ever more sophisticated and intelligent retail information systems to cope with all the transactions involved. With the increasing globalisation of retailing, more efficient control of data, information and market knowledge is key to retaining competitive advantage. How effectively retailers strategically invest in and exploit retail information management is reviewed through case studies in the United States and the UK. We review existing models of retail information management which are rapidly being overtaken by continual technological innovation. The concept of the holistic retail information management system, in which all the essential information systems work in unison, appears to be several years away. The existence of the retail supply chain is under threat as information technology (IT), in the form of the Internet, challenges the basic premise of the physical existence of shops and sales staff. Findings are that IT is revolutionising, as well as adding value to, modern retailing. Retail information management is a top investment area for IT. Its benefits for the customer, currently poor in time although rich in cash, include the provision of time.
KeywordsSupply Chain Geographic Information System Data Warehousing Electronic Data Interchange Retail Industry
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