Pos: Review of Related Literature

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Date Submitted: 12/17/2013 09:13 PM

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Review of Related Literature

This chapter contains gathered research works on foreign and local literature that are related to the study of the development and significance of the proposed Point-of-Sale (POS) system.

A. The Need for Point-of-Sale System

Not too long ago, many theorized that the Internet would eclipse brick-and-mortar stores. Yet while the Internet has certainly had a tremendous impact on retail, fifteen years after the dot.com craze the brick-and-mortar stores are still in place. In fact, the Internet has proved to be a great extension to brick-and-mortar stores. Most large retailers have embraced the Internet with multichannel sales strategies, including e-commerce, online advertising and online product information, specifications and comparisons.

Meanwhile, brick-and-mortar retailing has continued to evolve with customer-centric promotions at the point of sale (POS), digital signage, loyalty- and registry-based kiosks, self-checkout and “save-the-sale” inventory look-up at the POS. Despite the huge growth of Internet retailing, today’s brick-and-mortar stores process 95 percent of retail sales transactions, and almost all of those transactions are conducted through a traditional POS terminal (NCR Corporation, 2009).

As defined by Carolina Barcode Inc., a POS system is computer software and hardware networked together to track sales and inventory as they occur. POS systems will solve a multitude of problems in your business. It is one of the focal points of any retail or hospitality business is the cash register. The ability to process transactions and tender cash are essential to the efficient operation of the enterprise. If you have a lot of cash transactions, replacing the cash registers with a Point-Of-Sale (POS) system save you money (2013).

Further, based on the guidebook released by Advanced Business Solutions, a point of sale (POS) system is one of the most important business decisions a retail company will make. By...