Technology In Retail

Technology adoption in retail and its benefits to SMEsintensely competitive, cost-conscious industry,
& LS Retail Suite a probable solutionappropriate IT and telecommunications infrastructure
The Retail Market is in a state of explosive growth.can make a vast difference, and can result in
One needs to see the mushrooming of malls andimproved productivity and major cost savings
shopping complexes in the metros and small towns inthrough more accurate supply chain forecasting and
India to grasp the enormity of this growth. For manybetter inventory management.
years the retail industry in India has been disorganizedFor example, given a situation where a retailer wants
and consisted mostly of single- store outlets, a fewto increase its loyalty customer base, an organization
retail chains and a large number of thewith relevant IT systems in place, has a ready
friendly-neighborhood "Kirana" shops. These outletscustomer database updated at every purchase,
had pre-historic supply chains, inefficient inventorywhich can be used to send mailers or promotional
management, very few were customer focused andcatalogues. Another example where IT can be
most were in the small to medium category. Thebeneficial is a store management system that alerts
sudden spurt in demand and a greater awarenessout-of-place or stock-out items. An in-store system
amongst buyers for quality products and services,that uses magnetic strips or barcodes or RFID to
created a vacuum that could only be met by anmonitor actual versus intended product location on
organized retail sector, with fine-tuned supply chains,the floor or in the stockroom. By using RFID-encoded
efficient inventory management and a totallyshelf edge labels with embedded shelf readers, a grid
customer focused view that was alien to India.could be set up for verifying planogram compliance
One of the key factors in achieving an organised andfor standard shelving and promotional displays, with a
efficient retail operation is the use of technology ascorresponding alert for misplaced items sent to store
an enabler. IT is the key enabler to improvingpersonnel. Big payoffs could be realized for frequently
customer satisfaction, operational efficiencies and bymoved and misplaced items, such as apparel, shoes,
extension profitability. A typical pan-national retailCDs and DVDs.
operation would have multiple regional warehouses,Appropriate investment in technology can impact the
offices and retail outlets. In such an operation howbusiness positively through improved operational
does the headquarters know the daily turnover atefficiencies, increased profitability, happier customers
each of its outlets, how does it know which productsand providing a competitive advantage.
are selling the most in which region at which outlet,LS Retail is an end-to-end retail solution that covers
how does one store know if a stock-out item in itseverything from POS to back office and head office.
own inventory is available at another store locationThe setup can range from a single store with one
for whom it is slow moving item. Most of thesePOS to a complex, multi-store environment that
issues can be solved by the appropriate use ofintegrates with your overall business operation.
technology. The ability to have current information onLandsteiner Strengur is one of the principal companies
a real time basis and analyzing that data for betterdeveloping retail and hospitality solutions in the
forecasting are some of the payback provided byinternational arena with over 10,500 stores in 130
technology.countries, translated into 30 languages, and is used by
Retailers all across the country believe that shrinkagecustomers like IKEA, Adidas, NAAFI, Debenhams,
due to inventory recording, handling andPizza Hut and Booths Supermarket.
administrative errors costs retailer's millions. In an