Retail IT Systems
Retail IT Systems include:
Point of Sale [POS] - New POS systems collect
massive volumes of data.
Stock Management - Retailers accept IT software
and hardware systems as mission critical operational. Many organizations
have implemented highly sophisticated programs that control the
flow of merchandise throughout the enterprise, and also support
planning, budgeting, forecasting and reporting systems.
Merchandising - Sophisticated merchandising systems
support a high number of internal buyers and the vendors as well
as store transactions.
Operations & Finance - Many retail chains
have invested significant sums on Enterprise Resource Planning (ERP)
systems in an effort to improve accounts payable, general ledger
and other accounting functions.
In spite of the huge investments made in the above system, most
generally operate on different IT platforms that do not communicate
with each other. The impact of this on BI capability, is that the
information in these systems is not effectively integrated into
a common analytical layer that utilizes common databases and information
delivery mechanisms. This severly limits the use of reporting and
analysis systems that support the BI overarching premise of 'Single
Version of Truth'.
Lack of integration between Merchandise and Operations Planning
is the rule rather than the exception for most retailers. This means
that Business Intelligence systems [analytics, applications and
platforms] that are deployed are generally ineffective in meeting
the logic driven presight required today.
This lack of integration leads to the typical business unit spreadmarts
that rely on re-keying data into basic spreadsheets, providing reports
that vary between finance, store managers, stock managers and executives.
Information is highly unreliable, inconsistent and out of date,
even at its earliest availability.
Next: The Future Retail
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More Detail on Retail BI Strategy, Program & Technology
Index | BI Strategy | Complexities
| Barriers | Retail
IT Systems | BI IT Optimisation
| BI Evolution | Integrated
Retail BI | Implementation
| Business Benefits | RMS