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As an example, a small supermarket having a single store would be well off with a standalone system operating on a single machine. But imagine a large supermarket chain having several stores and within each store, several terminals. In such a situation, networking and communication would also be issues that need to be addressed.
Database updates related to store management would become quite tricky with both software and hardware advancements needed.
It is difficult to discuss about business today without taking e-business in to consideration. It is electronic business every where today and no wonder that retail industry is also affected. Therefore, new retail IT systems need to have facilities to this effect as well. Online payments and online ordering are two obvious examples.
Management of
entire supply chain has become a requirement nowadays. This was not case at beginning of retail IT systems. Companies have identified that it is more advantageous and appropriate to have entire chain computerized rather than just final end. This helps in better accounting, reporting and controlling and obviously increasing efficiency of whole process.
A company has two options in incorporating a Retail IT system into their business. That is in-house development or off shelf buying. Retail IT systems are one of most common types of systems that are available to be bought off shelf. There are some vendors that supply standard products while much retail IT companies would customize their base product to suit specific customer requirements.
World famous Microsoft also has retail IT products. Microsoft Retail Management System (Store Operations) POS Software is a comprehensive retail solution designed for independent merchant. The business software of choice for small and medium-sized retailers, equips retailers to run, control, and plan growth of a single- or multi-store business.
In a Sri Lankan context, retail industry is one of fore going businesses of entire economy. IT revolution within sector is happening silently but solidly. Sri Lanka has only few retail store chains and even they have very few stores under their belts. Therefore Simple systems might be enough for companies to survive on but it is important that technological advancements are also incorporated.
Most companies are yet to use entire supply chain computerization and just manage with front-end of computerization by using a POS. This is mostly due to fact that most retailers in Sri Lanka are small scale traders. Retail industry is highly dependant on volume of markets. For most types of retail goods, Sri Lankan markets are small which results in smaller size of companies and in turn results in less advanced systems being required.
Anyway functionalities such as online ordering, tendering (paying) using various types and use of wireless technology should come in to play to help uplift quality of life of Sri Lankan people.
An IT professional with experience in both as a Software Engineer and Business Analyst. Started career as a Software Engineer and currently permanantly in the bsuiness analysis area of the premier US based IT company in Sri Lanka.
