Page 256 - DMGT550_RETAIL_MANAGEMENT

Unit 14: Information System in Retailing

Notes
Figure 14.1: Elements of MIS

14.4.2 Retail Management Information System

This includes the use of hardware, software and procedures to manage activities such as planning,
inventory control, financial management, logistics and point of scale transactions.
Figure 14.2: Components of ERP

14.4.3 Radio Frequency Identification Device (RFID)

In a retail store, RFID assists in inventory management. All items in a retail outlet sport read-
only tags that contain the product code and its description, including the batch number, expiry
date and price. The shelves, exit gates, and warehouses are fitted with sensors that read the
information from the RFID tag and help in updating the inventory system in real-time. This way
it helps in total asset visibility and tracks the inventory stocking. It also ensures better process
control for products in the store. In warehouses and container depots, containers are marked with

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