POS scanning technology : a study on the local retail industry

• Main Authors: Ang, Mui Lee, Lee, Su Ling, Sin, Ee Sze
• Other Authors: Nanyang Business School
• Format: Final Year Project
• Language: English
• Published: 2013
• Subjects: DRNTU::Business::Accounting
• Online Access: http://hdl.handle.net/10356/51458
• Institution: Nanyang Technological University

Singapore’s economy has experienced tremendous growth over the last thirty years. The standard of living has improved for the majority of Singaporeans. We now seek quality goods at the lowest possible price and good customer service. Retail stores are competing to meet these demands to attract more customers. Retailers are competing to obtain information on emerging sales trends. Otherwise, they stand to lose to other retailers able to do so. Investing in the latest information technology - the POS scanning system - enables retailers to obtain accurate and timely information on emerging sales trends for decision making. The benefits of using the POS scanning system are mainly improved accuracy and speed of data capture, better cash control and efficient price update. Other benefits include the generation of timely sales reports for decision making. Emerging applications of the POS scanning system is in the area of automated re-ordering and sales analysis which is covered in this report. The POS scanning system has gained popularity over the years. Several stores have already installed the system. It will be beneficial for potential users to tap the experience of stores with the POS scanning system. With this objective in mind, we have included field studies to share with potential users of the POS scanning system the benefits, emergmg applications and issues raised after the implementation of the system.