abhishreshthaa
New member
RETAIL INFORMATION SYSTEMS:
For any retail strategy, gathering and reviewing information is valuable. For this, retailers use the RIS (Retail information systems) which anticipates the information needs of retail managers; collects, organizes, and stores relevant data on a continuous basis; and directs flow of information to the proper decision makers.
As computer technology has become more sophisticated and less expensive, more retailers are developing comprehensive information systems. 2 very popular systems are:
1. UPC- Universal product code, and
2. EDI-Electronic Data Interchange.
Also, to improve inventory planning and forecasting, a new program is now in place. It is called CPFR- collaborative planning, forecasting and replenishment.
Also gaining importance is the concept of Database Management, which is used to gather, integrate and apply information related to specific areas.
For any retail strategy, gathering and reviewing information is valuable. For this, retailers use the RIS (Retail information systems) which anticipates the information needs of retail managers; collects, organizes, and stores relevant data on a continuous basis; and directs flow of information to the proper decision makers.
As computer technology has become more sophisticated and less expensive, more retailers are developing comprehensive information systems. 2 very popular systems are:
1. UPC- Universal product code, and
2. EDI-Electronic Data Interchange.
Also, to improve inventory planning and forecasting, a new program is now in place. It is called CPFR- collaborative planning, forecasting and replenishment.
Also gaining importance is the concept of Database Management, which is used to gather, integrate and apply information related to specific areas.