In the retail world, there are several different kinds of technology that are making an impact of how companies operate. Some of these are becoming more widespread than others.
A recent article from Business 2 Community covered wireless networking and how it is impacting the retail landscape. While mobile point of sale equipment and customer service make the list of services affected, one that some may not think of is inventory management.
“Managing inventory has long been a major expense for retail managers,” the article reads. “Merchandise has to be recorded upon arrival at the warehouse, tracked when it moves to the sales floor, and removed from the inventory count when it is sold. Real-time information must be readily available to sales clerks so they know whether an item is located in the storeroom or warehouse if it is out of stock on the sales floor.”
Having an accurate inventory is becoming increasingly important. The article points out that if a customer comes into a business and cannot find what they want, 40 percent of them will move to a different store. This shows how proper inventory would have an immediate positive impact of sales numbers especially with e-commerce on the raise.
This also improves the ability to incorporate devices like wireless barcode scanners, which can be used to help track inventory during every part of its journey.
Of course, it takes more than hardware and networks for this to be effective. Retailers need to deploy inventory management software which can be incorporated into several different platforms and make sure inventory is accounted for at all times.