Technology Impact on Retail Research Paper Example | Topics and Well Written Essays - 2000 words

engineering science Impact on Retail - Research Paper ExampleTelephone, fax, and non-cash payment systems such as assurance razzs have existed for quite some sentence. However, the introduction of computers and internet has changed the face of retail perseverance in America immensely. Internet related technologies have revolutionized the retail sector like no other engineering before. Instead of cash payments, credit post-horse payment systems started to conquer the retail sector in America. Moreover, online purchasing started to dominate offline purchasing as a result of the introduction of new technologies. virago, Ebay etc like online retailers started to dominate American retail industry in recent time at the expense of many of the prominent offline retailers. Skorupa (2012) mentioned that Amazons forecasted revenue for 2012 is $60 billion (Skorupa, 2012). eBay is also not far behind. The popularity of online retail business compel offline retailers such as Wal-Mart to e xpand their operation in virtual world. This paper analyses the impacts of technology in American retail sector. Technology in American retail sector Internet technologies are being utilize at every stage in the retail industry in America at present. majority of the consumers are using credit cards for paying their bills even though the concerns somewhat credit card forgery like crimes are there. Modern internet technologies are capable of reducing the threats from credit card forgeries up to sure extent which encourage people to increase their cashless transactions in retail sector further. Earlier, it was difficult for retailers to manage their supply range of mountains effectively because of lack of communication channels or ineffectiveness of existing communication channels. However, at present supply chain management in retail industry have been improved a lot with the introduction of internet related technologies. It is easy for the supply chain managers to know the actua l inventory of goods at a particular place with the help of a digit touch. Earlier, the information supplied by the managers of the retail shops was used by the supply chain managers to know the inventory of a particular product in a shop. At present, supply chain managers need not tolerate till the information reaches their table from the retail shop mangers to know these details. Selling statistics of different goods from different shops may reach the table of supply chain manager at the very moment of selling of certain item. For example, a retail shop owner needs to register the details of the customer at the time of selling of Samsung/Apple mobile phones. Thus the supply chain managers will exit the information about the present inventory of an item in a particular store any time they want. live customers have more shopping choices like brick & mortar stores and e-shops. Brick & Mortar stores refers to retail shops that are located in a building as opposed to an online shop ping destination, door-to-door sales, kiosk or other analogous site not housed within a structure(Waters, 2012). One of the major drawbacks of online retailing is the inability of purchasers to get the physical presence of the product. Brick & Mortar stores help consumers to get the physical presence of the product before they homecoming any purchasing decisions. Ghemawat & Nueno (2006) pointed out that current inventory management systems are leaner due to unwrap forecasting and communication tools. They cited Spanish retailer Zara as an