Role of Technology Bis 318

Role of Technology

The retail industry has had a long and prosperous existence in the United States and globally. As time progressed technology became more and more advanced to the point where most industrialized nations are reliant on technology and its advancements. During the past two decades or so we have seen the rapid advancement of technology particularly in the retail industry. Everything from convenient quick checkout at the supermarket to how we listen to music, to how we utilize our telephone, and watch and listen to television, or how and where we use our computers are evidences of how technology has impacted the retail industry and our daily lives. The fact that we have computers which is how many of the functions listed above are carried out is a testament to the impact of retail on human beings worldwide.

From the small town just outside of London, England to the bustling metropolis of San Francisco to the hiking town at the base of Mt. McKinley in Alaska, technology has touched us and follows us wherever we may venture to. With the advent of wireless technology the mobile (cellular) phone was invented. With Global Positioning Satellite (GPS) on our mobile telephones and watches and portable handheld devices, people can be located practically anywhere in the world. Computers have become wireless and even more mobile and more compact. Tablet computers allow users to access the internet from anyplace where there is a network providing wireless fidelity (WiFi).

From a retail business standpoint, there are a host of technologies that should be deployed to ensure success. The Point of Sale (POS) system is probably the most critical bit of technology as the software saves time and generates revenue for the business. A good POS system can track purchases and maintain inventories.

Customer Relationship Management (CRM) software would be next in importance as this software helps companies build relationships with its customers. CRM software can help...