Retail cost optimisation and the role of information technology
Today retailers need more integrated and reliable strategies and solutions in order to remain competitive at a Global level and one of the important sources of enjoying a competitive advantage can be optimising the retail cost of operation. Information technology as a domain, with its tools for modern retailing can provide the dual benefits of improving retailer, supplier, and customer activities and experiences and at the same time providing an opportunity for retailers to control their operations resulting in cost optimisation. This paper brings out the strategic benefits of using IT solutions to optimise retail cost and addresses the challenges that could be faced by retailers in implementing them and suggests methods to overcome the same.
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