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Essay

how IT aids in vendor relationship in the retail industry

Essay specific features

 

Issue:

Technology

 

Written by:

Rose R

 

Date added:

May 3, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

12 / 3297

 

Was viewed:

5301 times

 

Rating of current essay:

 
Essay content:

As a purchaser would often say, a dollar saved in reducing the cost of a product will result in a dollar extra in profitability, whereas a dollar gained in revenue would only result in 50 cents increase in profitability if the profit margin is 50%. Supply chain concepts like Vendor Managed Inventory (VMI), Just-In-Time (JIT) and Collaborative Planning, Replenishment and Forecasting (CPFR) are the popular concepts being adopted for use in the retail industry to improve these vendor-retailer relationships in order to achieve a strategic advantage...
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I will touch on the 3 most common and beneficial IT systems in my view that retailers are able to implement. I also consider the costs involved and evaluate the justification of technology. GETTING THE MOST OUT OF INFORMATION TECHNOLOGY Getting the most out of information technology (IT) is a 3-pronged approach (Appendix 1)...
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General issues of this essay:
how IT aids in vendor relationship in the retail industry Nuclear Reactor Vendor Industry Analysis Improving Conditions in the ship breaking industry Improving A Supply Chain Management In Pharma Industry Effects of Birth Order on Sibling Relationships Vendor Agreement Vendor Evaluation vendor managed inventory View on Relationships Vendor Managed Inventory System Stress and its Connection to the Mind, the Potential Health Impacts on the Body, and its Relationship with Relationships Compare online relationships with face-to-face relationships Impact of Retail intiative on retailers retail marketing strategies for un organised retailers Improving Memory
 

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