The core components of a retail information system are inventory management, inventory optimization, revenue management, sales management, and reports and inquiries. Non-core components can include financial, supply chain management, enterprise resource planning, customer relationship management, and warehouse management systems.
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at the right price. It does this by looking at sales history and trends, sometimes with the help of a planning and forecasting tool. Revenue management also aids in creating promotional events, such as two for one sales , to attract more consumers into the store. In addition, it is responsible for determining markdowns, which allow retailers to liquidate discontinued or out of fashion products in order to lessen losses. Also known as price change management, retail profit optimization, or price