IT a must for booming retail sector

MANAGEMENT GURU

The less we talk about the retail boom in India, the better, since it is already well documented. But it’s also true that eventually, with the massive increase in organised retail, there is going to be an analogous increase in volumes. To handle such volumes will not be easy and this is where IT has a major role to play.

There are various ‘Retail Solutions’ provided by different IT companies. The most popular are Retail ERP and Customer Service Management CRM. ERP provides an integrated solution for planning, forecasting, merchandising, inventory and distribution requirements of retailers while CRM takes care of relationships with customers, including recording, storage as well as analysis of individual customer information.

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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