TAILIEUCHUNG - Lecture Management of retail buying – Chapter 6: Technology and internet commerce in retailing
In this chapter, you will learn about: SKU numbers, bar codes, & radio frequency identification; point-of-sale terminals & systems; electronic shelf labeling; quick response & efficient customer response; electronic data interchange & extensible markup language. | Ch. 6: Technology & Internet Commerce in Retailing SKU numbers, bar codes, & Radio Frequency Identification Point-of-sale terminals & systems; Electronic Shelf Labeling Quick Response & Efficient Customer Response Electronic Data Interchange & Extensible Markup Language eCommerce (“e-tailing”) & Internet marketing New frontiers: global data synchronization; Collaborative Planning, Forecasting & Replenishment systems; & more Copyright © 2006 by John Wiley & Sons, Inc. All rights reserved This is the topic overview found at the beginning of Chapter 6. Product Labeling Terminology SKU – Stock keeping Unit, the product’s individual identification number in the store’s system. UPC – Universal Product Code, the 12-digit bar code that allows computerized scanners to identify the item. EAN – European Article Numbering, an alternative bar code system used in at least 80 countries. EANS have either 8 or 12 digits. GTIN – Global Trade Identification Number, a new 14-digit code expected to replace UPCs and EANs. Copyright © 2006 by John Wiley & Sons, Inc. All rights reserved Product identification is becoming more and more sophisticated, as mentioned on pages 119-123. Radio Frequency Identification (RFID) PROS CONS Speed of inventory functions Improved ability to track & manage inventory Tags can be programmed to hold extensive information Tags are secure, cannot be modified after programming Handheld capability Cost of technology Consumers’ privacy concerns Demand for systems outstrips current supply Not for use with products containing liquid or metal Tag failure rates Too much data, some of which may be repetitive Copyright © 2006 by John Wiley & Sons, Inc. All rights reserved Radio Frequency Identification (RFID), also known as “Auto-ID” and “vicinity technology,” has its advantages and disadvantages. Selling Online – Unique Website Considerations How many pages should the site have? How many items on a page? How prominently should price be featured? How quickly can price changes be updated? How many “views” of each item should be available? Who provides the photos/artwork? How to hide items or inform customers when they are out of stock? How to group/categorize items on pages? How to prompt customers to view “accessory” or add-on items? Copyright © 2006 by John Wiley & Sons, Inc. All rights reserved These are questions you would never have to ask in a retail store. Ahhh, technology --– how many of these acronyms do you know? (Hint: They’re all found in Chapter 6!) ECR RFID VMI ESL GTAG EDI EAN GDSN XML SKU CRM JIT POS EPC LCD GTIN QR UPC Copyright © 2006 by John Wiley & Sons, Inc. All rights reserved Acronyms are the peculiar “shorthand” of the business world, and these are just a few that you will hear and see as a retail buyer or merchandising manager.
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