ASSIGNMENT ON

IT AND ADMINISTRAYION

Topic: Components of Retail Information System

Subject: IT and Administration

Submitted by: Darshit Pajvani

3rd B.VOC Retail Management
Roll No.: 180053

Email ID: pajvanidarshit@gmail.com

Submitted to: Reema Ma’am

Department of Retail Management

Submitted date: 15/04/2021

Place: Mangalore
Date: 15/04/2021
 Index

SL No Content

1 Introduction

2 Retail Information System

3 Components of RIS

4 Conclusion
 Introduction

Information System is a set of co- ordinated network of components which act

together towards producing, disturbing and processing information. They are
tools, hardware, software which help retailers to achieve success in a dynamic
environment.

In any given organization, Information System can be classified based on the

usage of the information provided. Therefore, IS in business can be divided into:

1) Operation Support System

2) Management Support System

Operation Support System:

It is a set of programs that help communication service providers to analyse
and manage computer networks.

Management Support System:

It focuses on managerial uses of information resource.

Information system serves several functions including: Planning, Inventory

Control, Managing Budgets, Sales Goals, Transaction and Logistics.
 RETAIL INFORMATION SYSTEM

Gathering and reviewing Information is valuable for any retail strategy. That is
why Retailers use Retail Information System (RIS) which anticipates the
information that retail managers need. From collecting, organizing and store
relevant data on a continuous basis, RIS also directs flow of information to the
proper decision makers.

As computer technology has become more sophisticated and less expensive,

more retailers are developing comprehensive information systems. RIS provides
cost effective, highly configurable, scalable point of sales, inventory control
software and hardware solutions to clients worldwide ranging from large retail
wholesale chains, especially retailers in all types of verticals.

To improve inventory planning and forecasting new programs, there is now one
new place called CPFR, i.e., Collaborative Planning Forecasting and
Replenishment. Data Base Management System is also gaining more importance,
which is used to gather, integrate and apply information related to the specific
area.
COMPONENTS RETAIL INFORMATION SYSTEM

Some of the frequently utilized Information System in Retail:

1) Inventory Management Software:
IMS is a software system that is used for tracking inventory levels,
orders, sales and delivers it. It can also be used in the manufacturing
industry to create a work order bill of material and other production
related documents. Companies use this software to avoid overstock and
outages. IMS is a tool for organizing inventory data that was generally
stored in a hardcopy form before or in a spreadsheet. When a product is
in a warehouse or store, it can be traced via barcodes or other tracking
criteria such as serial numbers, lot numbers, etc.

2) Customer Relationship Management:

CMR software looks at data that’s related to the customer, about the
current and future data to help the company understand customers
better in hopes of retaining and building customer relationship.

CMR systems captures the following details to help retailers drive

sales and gain a better understanding of the customer:
1) Contact Details
2) Personal profile of the customer
3) Sales History
4) Customer Communication
5) Customer feedback
 3) Account Information System:
This software collects, stores and processes financial and accounting
data that are used by decision makers. An AIS is generally a
computer-based method of tracking accounting activity in
conjunction with Information Technology resources. The resulting
financial report can be used internally by management or externally
by other interested parties that include investors, creditors and tax
authorities. AIS is designed to support all accounting functions and
activities including auditing, financial accounting and reporting,
managerial accounting and tax. The most widely adopted AIS is
Auditing and Financial Reporting modules.

4) Electronic Shelf Label:

An Electronic Shelf Label system is used by retailers for displaying
product pricing on shelves. The product pricing is automatically
updated whenever a price is changed from central control server.

5) Point of Sale (POS):

It refers to the physical location of transactions but also to any device
or system used to record the transaction for the retailers. CPOS is a
computer-based POS which employs software to implement the POS
functionality.
 CONCLUSION

When first introduced, the Computer-Based Information systems were

controlled by third parties that retailers hired to do the analysis. This was
also due to the size of rudimentary computers that would take up an entire
room and would require a team to run them. As the technology advanced,
these computers were able to handle greater capacities, which therefore,
reduced costs. Smaller, more affordable minicomputers allowed large
business to run their own computing centers in-house and they began to
decentralize the computing power from large data centers to small offices.

The widespread adoption and usage of Management Information System

(MIS) is closely related to the advancement in the modern technology and
innovation. As MIS continues to change and become more accessible, they
play a larger role in the day-to-day life of the retail industry. The modern-
day MIS continues to help managers, workers and buyers/shoppers to have
successful interactions between them.