Operations Management Assignment Essay Example | Topics and Well Written Essays - 3500 words

Operations Management Assignment - Essay Example The range of technologies used in the modern retail industries have been from softwares to hardwares. The new technologies require that they become fully integrated into the retail operations of the business for their benefits to be maximized. According to McGrane (2007, p. 50-53), some of the key technologies or technological areas within the range are as follows (McGrane 2007, p. 50-53; EPoS 2007; and Prater et al. 2005): Bar-coding/scanning technology/labelling. Bar-coding, scanning, and labelling technologies have been invented years ago but not all of the retail business operations are using them. Nevertheless, the technologies are expected to be available to business operators in the coming years and there are widespread expectations that the technologies will be improved further and will become in more popular use as we go through current decade (McGrane 2007, p. 52). â€Å"Scanners are getting smarter† and â€Å"self-scanning will continue to grow† (McGrane 2007 , p. 52). The new technologies include a touch screen display, barcode scanner, weighing scales, credit card reader, cash reader and deposit unit. Wireless technologies are even being developed for bar-coding and scanning, making possible for inventory and sales monitoring and sales transaction remotely from the goods that are the subject of a transaction. Epos software & hardware. EPoS systems or Electronic Point of Sale Systems provide a way of dealing with customers that is fast and efficient because they can do calculations or total, issue receipts, keep track of inventories, and monitor sales as the sales transaction is being completed (EPoS 2010). Further, the EPoS systems can also keep track of customer information thereby enhancing the seller’s capabilities to execute customer relation management (EPoS 2010). Moreover, the EPoS systems can also directly interface with the credit card system thereby accessing more information on customers and enhancing the ability of t he firm to conduct follow-up sales and strengthen its relationship with customers (EPoS 2010). Simultaneously, the EPoS system can also identify which products are not doing well in the market (EPoS 2010) thereby enhancing a business firm’s ability to make crucial business decisions on what products lines and brands to carry. EPoS systems can make transactions faster and they can be customized to a specific business environment (EPoS 2010). Changing prices, data, quantity and other variables are easy (EPoS 2010). EPoS systems can be operated through keyboards or PDAs or personal digital assistant (EPoS 2010). The systems were designed to be powerful and yet very simple for the business staff to learn and use (EPoS 2010). On the other hand, the EPoS system requires maintenance and backups (EPoS 2010). Data can be backed up off site using another party or service company (EPoS 2010). The backup system must cover â€Å"historical backups† in that one can go back to an old er backup if the most recent backup is corrupted (EPoS 2010). Periodic updates are necessary and businesses using the latest retail technologies may want to have in-house capabilities to do backups. This also implies that somebody in business must focus himself or herself in data security. Wireless hardwares,