Speaking of risk management ...
by Dr Will @ Iconic
If your business's processes cover everything from maintaining data consistency to creating and keeping sales reports, you know how challenging data management can be. An integrated business solution can streamline operations across departments, but this kind of system may sound too complicated to deal with on a daily basis, especially in a fast-paced retail environment. New data integration technology can manage some processes automatically, making these systems simpler and more user-friendly -- not to mention profitable in the long run.
Are you enjoying some success attracting customers to your establishment? Good. You’ll need these cost-effective tips to succeed even more in a world of fast-evolving technology.
A lot of the reaction to the Target security breach has fixated on the backwardness of the physical data storage of American credit cards. The story goes that if only banks would hurry up and get us onto the "Chip and PIN" Europay MasterCard Visa card, we'd all be safer from breaches like this. Chip and PIN cards have some security advantages over the magnetic strip, but it's not likely it would have made much difference in this case.
Unlike an auto manufacturer’s standing inventory of parts, the customers in a retail operation interact with the process even when nothing is happening. You can’t look at them like stock parts, not because it’s objectively wrong to count heads, but just because they won’t stand for it. Especially when it comes to waiting. As we discussed last week, customers flowing through a bottleneck don't just wait passively. For a retailer, an overwhelmed bottleneck is not just a cap on the overall flow rate; it can actually reduce demand.
Today being a Tech Tuesday, it seemed fitting to talk a bit about something, well, techy - like databases. Today's post and image is re-posted from ProfitNotLoss.net:
Retailers today are moving more and more towards mobile points-of-sale and away from the traditional cash register. For today's post, though, let's take a step back in time to 19th century Ohio, to the time when the first cash register was invented.