Up and coming

Ragtrader asks the experts what's the next big thing in retail business systems?

QQQ Systems sales and marketing manager David Tyc
I think the concept of Radio Frequency Identification (RFID) will revolutionize how information is stored and processed in the future. For retailers (particularly in specialty retail) RFID tags are still in their infancy and cost inhibitive but this will all change in the short future. The information stored on RFID's will prove invaluable once the product is sold and left the store, the days of lost labels, barcodes etc will be gone.
 
Future Business Systems managing director Mark Silver
Smart credit cards are starting to be implemented by the banks which will have a big impact on the ability to collect customer loyalty data. Also as the cost of RFID comes down and is implemented in the clothing and footwear industries, tasks such as stock take will become quicker, easier and more accurate.

Apparel 21 general manager Luke Haites
The trend towards fully vertical retail operations will continue to drive the need [for] retail systems that can handle the whole supply chain process as well as POS and customer-centric selling. Capture and use of loyalty information will also continue to be a driving force over the foreseeable future.

Retail Directions managing director Andrew Gorecki
Unified, training-free, highly reliable systems that can be managed as a utility (similar to electricity - consistently available when required) rather than a complex mix. The focus will need to be on three strategic business drivers: maximising GMROII (gross margin return on inventory investment), minimising wages/sales ratio, and using statistical methods for decision making. The latter, based on the methods from total quality management, are long overdue in the retail industry.

Niche Fashion Technology director Peter Pakarinen
Niche Fashion Technology has noticed online retailing systems have been lacking functionality and have not been connected to any other part of the business systems. We are currently developing a fully integrated system for online shopping that guarantees stock availability, facilitates quick response in delivery, as well as analysis of consumer behaviour and demographics. Ten months in the making, the system (which is new to Australia according to NFT) is due to be launched mid 2008.