June 12, 2012 // By: Byron Banks
SAP for Retail
Today’s retail business is a real-time, information-driven enterprise. Every customer interaction and movement of a product through a distribution network is measured and used to refine pricing strategies, update inventory decisions, and tailor customer incentives on websites, email, and mobile devices.
The days of relying solely on POS data to determine pricing and manage inventory levels are long gone. The same goes for relying solely on newspaper ads and mailed coupons to attract customers. Maintaining long-term, profitable customer relationships requires a constant two-way flow of information between retailers’ storefronts (web or physical) and their suppliers and distribution networks.
The best retailers have been using new mobility capabilities, Big Data technologies, and advances like in-memory computing to revamp their business processes.
Read on the next page: Spotting “Window Shoppers”