Advantages and Disadvantages of New POS
Discuss about the Case study on blooming with technology.
In the present scenario, technology is one of the important needs of every company. Point of sale is also the technological equipment needed by the company. There are merits and demerits related to this technology and it is important for the companies who are conducting their activities at various places. It assists in the overall process related to the decision making of the organizations and also it has a link with the financial affairs. This report focuses on the various aspects related to POS.
There are various advantages and disadvantages concerned with the new point of sale.
- It has been seen that a large amount of information can be stored in less space and also it offers robust functionalities related to distributing, storing, inputting and tracking the overall data.
- The system also assists to keep track of the important transactions related to sales and also of the products which are sold (Gupta and Gupta, 2014).
- The information gathered with the help of POS assist in enhancing the inventory and also compiling the overall history related to sales.
- It assists in considering the decisions which are linked to the inventory management and also which reduces the confusion. It also assists in conducting the learner inventory units.
- Cost reporting also gives assistance in analyzing the overall facts related to a product. It helps to add more and more profits (Dontigney, 2018).
- It also safeguards the time of the managers who control the information in a proper manner.
- Transparency is also maintained through this which helps to ensure proper accountability in the units.
The software which is based on the POS system has to be upgraded on a routine basis. This can enhance the overall cost of input. There are various risks related to the risk of hacking and also the information can be transferred in the hands of an unauthorized person.
There are various advantages related to the usage of POS systems. These systems help in the overall process of making decisions and accurate data offered through it. This information assists in considering the decisions that are related to the facts and also offers a competitive advantage to the companies (Pantano, Rese and Baier, 2017).
It has been seen that point of sale offers immediate information concerned with the products that help to enhance the profits. It also assists in the management of the inventory which controls the cost and enhances the profits of the nation. The financial information is also managed and this information is important so that profits can be maintained and also it helps in becoming a market leader.
There are various advantages which are related to the use of a centralized database. This is important for the large companies but it is also important for small companies. Some of the benefits are
- It is easy to make the changes and also to update the information.
- The integrity of the data is high and also data redundancy is low. It can be ensured by keeping the data at one place.
- It is seen that there is a high security of the data where the attacks can happen.
- The information can be accessed easily in the specified time and at the time of considering the decisions to collect the data in any part of the world. It can be available to the decision makers at the same time.
- The process can become easy with proper database management and also data portability.
- To protect the data it is important to have proper resources.
A large amount of information can be gathered with the help of POS system as it helps in the process of decision making. The first step which is taken into consideration is related to the help which is given to making the data-driven decisions so that competitive advantage can be achieved.
POS offers detailed information concerned with the sale of products and it is important for achieving growth and the revenue margins. The data that are real-time helps to consider better decisions concerned with the discounts and offers. The information taken can be considered for enhancing the activities of the back office and also the customer experience. It also helps in considering the information and also the evaluated decisions. At the time of considering POS data, it can be seen that customized decisions can be taken. It also assists in the overall process of evaluating the information which is important for making competitive decisions. It helps in emphasizing towards the weakness present in the overall sales and promotions of the activities (Ingram et al., 2015).
Advantages
It can be evaluated that with the help of POS data it can be easy to customize the decisions related to marketing. It also helps in the overall process of evaluating the information that is important for making the competitive decisions. The products are offering higher advantages that can be promoted with the help of the information gathered through the POS system (Hansen and Sia, 2015).
The first thing which is considered by POS is related to eliminate the manual methods for manipulation of data. The data is gathered at the point of sale and it can be easy to track with the help of POS system. This can be related to the orders diminishing stock to search the best sellers. It can be completed with the assistance of manual methods but if the emphasis is given then it is seen that it is not effective from the time management view. It gives proper information about the type of orders that are more considered by the customers. This will be important at the time of strategic decision making especially at the time of considering the STP strategy (Williams et al., 2014).
It can be completed by considering the manual methods in the present business situation it is not important to consider more time. In the technique related to the manual, it is seen that there are many chances of attaining the misinterpreted information which can lead to incorrect decisions. To track the data consumes more time and also efforts of humans and there will be the confusion related to the accuracy of the information tracked. In the present situation, the decisions of the company should focus on the real-time data and also the use of manual tracking which is not so effective (Saeri et al., 2014).
There are many questions on which focus should be given to be answered by considering the use of the data that is achieved through POS. The questions concerned with functions like marketing and also the financial operations can be easily considered with the help of POS system. Also, there are many queries related to the customers which are taken into consideration at the time of making the decisions.
There are many types of data which are gathered by POS and plays a great role. All these types of data can be considered for making accurate decisions and also focus on the areas where they will search discrepancies. The changes in the process can be made by focusing on the data that is gathered through the system of POS. The data-driven approach to the various activities can be considered which can assist the company in managing the business in an effective way (Wheatley, Maillart and Sornette, 2016).
Disadvantages of New POS
There are many kinds of options related to telecommunication that are available with the four season’s greenhouse. Telecommunication option should be selected by focusing on the need of the company. There are many common options which are available with the company and it is related to the type of network it must be considered.
Among all the options which are available LAN can be the best option that could be taken into consideration. This is just because of the small company and also the requirement of the network is small. The connectivity related to LAN offers high speed and also consider the less use of the resources which is best in case of the small companies who are having limited financial resources (Neves and Eisenberger, 2014).
It has been seen that wire technology can give benefit to the small companies like four seasons’ greenhouse and nursery. This is just because of the wired community who are having good speed and also there is low chance to be hacked. Ethernet cables can be considered for this connection (Rauschnabel and Ro, 2016).
There are many types of risks which are related to the use of POS system. There are many ways which can help the business to be secured from the risks. Three types of risks that are considered through the use of POS system are:
- Security: A large amount of information is stored in the POS system and the data also plays a strategic role. So, it is important to ensure the safety of the data. If it is not secured then it can lead to the serious issues related to stakeholders. If the information is hacked then it can lead to a financial loss which is not good for the success of the company. For securing the data protection software and other authentication systems should be taken into consideration (Ilvonen, JJussila, and Kärkkäinen, 2018).
- Privacy: POS system takes into consideration various types of important data. Through this, it can be easy for them to maintain the privacy of the information which is stored.
- Confidentiality: by considering the POS system there is always an opportunity to maintain confidentiality related to the customers (Saxena and Pushkar, 2017). The major issue is also concerned with the use of credit and debit card for scanning. To consider firewalls can be best in this case.
Conclusion
By analyzing the information, it is concluded that there are many benefits and also the disadvantages related to the use of POS systems. It assists in offering a competitive advantage by focusing on the decision making process. The system of centralization can be good for the company as a promotion of people can be done effectively in relation to the decision making. LAN with connectivity can give advantage and also with this privacy and confidentiality can be connected with the use of POS systems.
References
Dontigney, E., 2018. The advantages of Centralised Database storage [Online]. Available at: https://itstillworks.com/info-8623828-advantages-centralized-database-storage.html. [Accessed on: 11th may 2018].
Gupta, S. and Gupta, S., 2014. New product launch through social media and point of sale promotion. Asian Journal of Management, 5(2), pp.183-187.
Hansen, R. and Sia, S.K., 2015. Hummel’s Digital Transformation Toward Omnichannel Retailing: Key Lessons Learned. MIS Quarterly Executive, 14(2).
Ilvonen, I., JJussila, J. and Kärkkäinen, H., 2018. Towards a Business-Driven Process Model for Knowledge Security Risk Management. Global Business Expansion: Concepts, Methodologies, Tools, and Applications: Concepts, Methodologies, Tools, and Applications, p.270.
Ingram, T.N., LaForge, R.W., Williams, M.R. and Schwepker Jr, C.H., 2015. Sales management: Analysis and decision making. Routledge.
Neves, P. and Eisenberger, R., 2014. Perceived organizational support and risk taking. Journal of managerial psychology, 29(2), pp.187-205.
Pantano, E., Rese, A. and Baier, D., 2017. Enhancing the online decision-making process by using augmented reality: A two country comparison of youth markets. Journal of Retailing and Consumer Services, 38, pp.81-95.
Rauschnabel, P.A. and Ro, Y.K., 2016. Augmented reality smart glasses: An investigation of technology acceptance drivers. International Journal of Technology Marketing, 11(2), pp.123-148.
Saeri, A.K., Ogilvie, C., La Macchia, S.T., Smith, J.R. and Louis, W.R., 2014. Predicting Facebook users’ online privacy protection: Risk, trust, norm focus theory, and the theory of planned behavior. The Journal of social psychology, 154(4), pp.352-369.
Saxena, V.K. and Pushkar, S., 2017. Fuzzy-Based Privacy Preserving Approach in Centralized Database Environment. In Advances in Computational Intelligence (pp. 299-307). Springer, Singapore.
Wheatley, S., Maillart, T. and Sornette, D., 2016. The extreme risk of personal data breaches and the erosion of privacy. The European Physical Journal B, 89(1), p.7.
Williams, B.D., Waller, M.A., Ahire, S. and Ferrier, G.D., 2014. Predicting retailer orders with POS and order data: The inventory balance effect. European Journal of Operational Research, 232(3), pp.593-600.
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