Retail information system

What is RIS
Retail management involves running a store where merchandise is sold. Retail management information systems include the use of hardware, software and procedures to manage activities such as planning, inventory control, financial management, logistics and point of sale transactions. Use a retail management information system in your business when you need to manage your store, finances and inventory from one office.

Function of RIS
Supporting the basic functions of procurement, storage and delivery. a retail management information system allows a manage to manage customers, inventory, suppliers and product sales. The system allows managers to track purchase orders and update inventory records dynamically. managers can analyse cash, check and credit card transactions to reconcile information. Improve efficiency by examining overage and shortages to reveal trends that can be rectified.

Types of RIS
Retail management information systems can be customized for each industry, including, for example, fashion, department store, supermarket, furniture or prescription drugs. Some systems support multiple languages, currencies, tax systems and cost structures. In addition, some retail management information systems can support different business models such as franchise, consignment, direct sales or online.

the Retail Information System is a component of the Logistics Information System The Logistics Information System is divided into the following information systems: Sales Information System (SIS) Purchasing Information System (PURCHIS) Inventory Controlling (INVCO) Quality Management Information System (QMIS) Retail Information System (RIS).

Application of IT in retail
Automating Processes: Electronic Point of Sales (EPOS), Inventory Planning, Ordering and Management Collecting Data About Customers: Purchasing patterns of customers, segmentation, personalization, customization of offers, loyalty programs, store design and product placements Feedback on Marketing Decisions: EPOS data to study effects of promotions, prices, new products and packaging changes Communications: With suppliers, customers, internal and external

 Tools to Plan the Business: Software to plan, budget, forecast. Choose best locations (GIS) Adding Value to Retail Transactions: ITassisted transactions (ATMs) may be preferred by some customers, self-scanning, in-store kiosks for product and info. search. Technologically-enabled Shopping: Internet shopping

Examples of RIS TECHNOLOGIES

Electronic Point of Sales (EPOS) Interactive Kiosks(small machines) Electronic Point-of-Sale Signage Self-Scanning and Self-Checkout system Virtual Display Cases Body Scanning

How MIS helps Manager

It help to know details about the daily transaction. To easily calculate profit and loss. To take decision quick and accurate with the help of MIS. To know the regularity of the employees. They use a storing device to store all transaction per day.

Field of applications
COST OF PRODUCT

COUNTING CUSTOMER FOOT MARK

rIS
EMPLOYEE S ATTENDEN CE

DISCOUNT

Ex: RIS OF BIG BAZAR

Function of MIS
Two centralized servers are used by the MIS viz.
The main server and The other a backup server which can take over from the main server with-in 5 min, if there is any problem.

Each of the servers has its own storage system with mirroring hard disks (15 hard disks storing the same info simultaneously). The information is backed up continuously on CDs every day.

 There are 15 transaction counters in Big Bazaar. The recording of transactions at each of these counters is done using REM.(retail enterprise manager(a billing software) The database used for the storage is called POSH database and this is an in-house production of Big Bazaar. These transaction counters can capture credit card details and customer information of big customers.

 Receipts of transactions are cash, credit or in the form of passes. The passes are sent to the HQ on a monthly basis and converted to cash. The number of transactions made per day varies from 3000- 4000 on week days to about 5000- 6000 on weekends. Any transaction recorded at each terminal is stored directly onto the POSH database. Oracle finance: a package from oracle is used for this purpose. The financials are sent to the HO on a daily basis.

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