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Role of Ict in Retail Sector

In: Computers and Technology

Submitted By rebeccathomas
Words 4880
Pages 20
The role of ICT in Retail sector

India is on the brink of becoming an economic power house ready to unleash its largely untapped potential for those who willing to take right steps forward. Over the last few years, retail has become one of the fastest growing sectors in the Indian economy. ICT has changed modern business practice, making collaborative supply chain management possible.The paper evaluates the role of ICT in the operations of retail organization. The purpose of this paper is to address the critical role-play of Information Technology and IT enabled Services (ITeS) in Retail sector, which is booming in India, and a lime-light into security concerns and other important areas such as system integration, a right business intelligence (BI) solution, and technology for sales & customer care, etc.Large and medium retail houses need to look at an efficient integration with external and internal functional participants (Suppliers to POS), thus need of smart and secured networking. People and training them is also an integral part of the total infrastructure management, therefore technology advancement is considered to be cost effective and just-in-time-update.
Keywords: Store operations, Information technology in retail store ,Supply Chain Management (SCM), Customer Relationship Management (CRM),IT enabled services.
Introduction:
Retailing is a “technology-intensive industry. It is a well-known fact that the retail industry always works on razor thin margins and the key to survival lies in optimization of resources both in space and time dimensions as well as maximization of customer satisfaction. Successful retailers today work closely with their vendors to predict consumer demand, shorten lead times, reduce inventory holding and ultimately save cost. Access to timely and even real-time information to a wide variety of channel and trading partners,...

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