'Retail Information System Essay\r'

'1. What argon the benefits of 7-Eleven’s retail selective information brass?\r\n1) summation sales opportunities and gain profits\r\ni) Retail Information establishment can amass information well-nigh customer entreat, pricing, and interest in current productions, such as Diet Pepsi, Zero Coke, Slurpee. Analysis of the information shows which items argon selling well in which stores, which items customers atomic number 18 most interested in, seasonal demand for items and which items are most profitable to sell in the number 1 place. Then, 7-Eleven can depend on the above entropy to order the exact quantities of products & get the maximal of profit.\r\nii) Insights gleaned from the entropy also help 7-Eleven rise up in the buff products such as its idle- nourishment offerings that attract new customers and extend transaction size. For examples, now some 7-Eleven have the degenerate food counter to sell the fast food like fish ball, dumplings. It is v ery popular and meets the demand of the market.\r\n2) Reduce excess inventory\r\nThrough the Retail Information System, management uses this information to identify sales trend, improve product assortment, eliminate slow-moving products from inventory, and extend same-store sales by stocking products that are high in demand. It can avoid the excess inventory and pay off the inventory cost includes the expensive rental expenses.\r\n3) lightheaded to control the inventory\r\nRetail Information System provides store managers with information on daily, weekly, and monthly sales of each item to help them determine which items to order the exact quantities they need for their stores. Managers use this information positivist their on-the-spot knowledge of the neighborhood to make terminal order decision. Further, 7-Eleven’s orders for fresh food items are aggregated at 7-Eleven headquarters and transmitted to fresh food suppliers and bakeries for preparation and delivery the n ext mean solar day. It reduces the product spoilage and save the unnecessary costs.\r\n4) Increase the combat of the market\r\n7-Eleven uses the information that they can get the respond to the needs of the customers. By tracking and analyzing its data, it knows its customers as well as it did when store owners talked to each customer face-to-face. construe the customers’ need and so increase the sales consequently increase the competitiveness of the market.\r\n2. Which of the strategies does the Retail Information System support?\r\nRetail Information System supports the strategies of strengthen customer and supplier engagement. 7-Eleven through the system to learn the data shows which items are selling well in which stores, which items customers are most interested in, seasonal demand for items and which items are most profitable to sell in the first place. These information can give it to suppliers then they can determine to here and now which products from the wh olesale, which season import which items, which items would import more to get most profitable. Further, these data can also give it to supplier to develop new products such as its fresh-food offerings that attract new customers. Moreover, the system consolidates these orders and transmits them to suppliers for preparation and delivery the next day of food & drink. It can reduce the shipping costs.\r\nThrough making transactions in everyday easier and more user friendly for both customers and suppliers, the conversance of the firm and customer/supplier will increase. This offers broad incentive for both customer and supplier to persist doing business with 7-Eleven. Use information systems to develop unafraid ties and loyalty with customers and suppliers. It also discovers unsuspected problems, detect unrealized potential, and create a dynamic synergy with customers. They often merge their operations with those of their customers. In the integration of their operations, sup pliers travel more than merely useful. To tighten long-term descent and create brand loyalty with customers and suppliers, including increasing shift key costs. In conclusion, Strengthening customer and supplier intimacy lead to win-win situation.\r\n'