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hui wang

The Advantages of Point-of-Sale Systems | eHow.com - 0 views

www.ehow.com/ges-point_of_sale-systems.html

evaluation restaurants controlling cost benefits

shared by hui wang on 01 Mar 13 - No Cached
  • Point-of-sale systems have replaced traditional cash registers
  • Price Adjustments
  • With a point-of-sale system, you can enter promotion codes for customer discounts
  • ...1 more annotation...
  • You can have your point-of-sale system tailored to your industry
  • hui wang on 01 Mar 13
     
    This article is to emphasize the importance of point of sales system, including the advantages that help restaurant operating business every. For instance, counting is the simplest approach to checking your inventory on the shelves in a small business and this is called stocktaking, especially, for small businesses, like a small toyshop, stocktaking is a thoroughly practical approach. However, most of the time stock management is not that simple, and sometimes the practical option is not the best option. There can be discrepancies between the physical and the stock records, especially when it concerns annual stock management. This is why it is advisable for every business owner to use computerized POS systems in stock management. The best thing about having a computerized POS System in the retail business is: as new stocks arrives and as it is sold, it keeps the stock levels current and updated, hence making it is easier to identify which items are selling and which items are not. A POS System is also good in checking for any obsolete or out of date stock that needs to be disposed. For the managers, if they are still counting the inventory manually on the shelves or in the warehouse, something should be thought twice about the lacking of efficiency method, for there are many advantages in using a POS System mentioned in this article. One advantage of a POS System is its ability to help the business achieve detailed real-time stock level information. In addition, a POS System can also give some information such as weather forecasts, public holidays and major sporting events, which can be of great help in determining the stock level of seasonal products. Managers can now efficiently and effectively handle their stock management accurately.
smones

Big Restaurant Brands Dive Into Grubhub Era Of Delivery Rivalry - 0 views

www.investors.com/...home-delivery-ecommerce-retail

shared by smones on 27 May 18 - No Cached
  • "There's a growth problem for a lot of restaurants in the U.S. Many fast-casual dining-type restaurants are mall-based or attached to retail spaces and consumers are just not going there as much," said Tom Champion, a Cowen analyst who follows Grubhub. Grubhub stock has shot up 141% from a year ago.
  • Millennials think about cuisine in global terms, says Warren Solochek, a restaurant industry analyst at NPD.
  • They typically share 20% to 30% of a bill with third-party delivery services. That matters in an industry with 10% to 15% operating margins and high fixed costs, including rent and staffing.
  • ...11 more annotations...
  • home delivery services enable consumers to order from a restaurant that might be 5 miles away as opposed to one around the corner, Solochek says.
  • "We're going to see more and more quick-service chains begin to try out delivery," he said. "The margins associated with third-party delivery may be slimmed down. But, the question for restaurants is, 'If I don't do it and I'm not delivering my food, am I in the game anymore? Am I in people's consideration? It boils down to being an opportunity cost. The hope is that at some point people will like the food enough to come in and sit down."
  • In some cases, menus posted on mobile apps may be priced a bit higher to offset revenue-sharing with delivery partners, she says.
  • Restaurant stocks received a boost as the industry's same-store sales rose 1.5% in April, the best restaurant industry gain in 2-1/2 years, says Black Box Intelligence.
  • a millennial generation shift.
  • If something goes wrong with a delivery order, it's usually the restaurant that gets the blame, according to Consumer research firm NPD, not the likes of Grubhub (GRUB), Uber Eats, DoorDash or Postmates.
  • Wingstop is not the only national restaurant brand with good reason to be testing home delivery services. Also testing or charging ahead with food delivery services are McDonald's (MCD), Yum Brand's (YUM) Taco Bell and KFC, Chipotle Mexican Grill (CMG), Shake Shack (SHAK), Zoes Kitchen (ZOES), Panera Bread, Bloomin' Brands' (BLMN) Outback Steakhouse, and others.
  • While restaurants may test food delivery with a few service providers, they'll usually settle on one to ensure that the process runs smoothly, says Cowen's Champion.
  • The result had lifted the Retail-Restaurants industry group to a top 10 ranking at the start of May among the 197 industries tracked by IBD.
  • The big picture is that consumers buying goods at Amazon.com (AMZN) and other online businesses are doing less of the traditional brick-and-mortar shopping. That means they're also not stopping off to eat on the way home or getting takeout food.
  • "If you're turning a transaction into a less-profitable transaction, that isn't doing any good," said Bartlett, "but if it's a transaction you wouldn't have had in the first place, then it's a positive."
  • smones on 27 May 18
     
    This article discusses the increasing demand for e-commerce and third party delivery in the food and beverage industry, as well as the costs associated with it. Restaurants are currently facing a growth problem in the United States as foot traffic has declined due to a "millennial generation shift" that sees diners doing more in their homes, while third party companies like Grubhub have seen it's stock rise 141 percent from a year ago. For many restaurants, it is a matter of opportunity cost. As explained in this article by Warren Solocheck, a restaurant industry analyst at NPD, "We're going to see more and more quick-service chains begin to try out delivery," he said. "The margins associated with third-party delivery may be slimmed down. But, the question for restaurants is, 'If I don't do it and I'm not delivering my food, am I in the game anymore? Am I in people's consideration? It boils down to being an opportunity cost. The hope is that at some point people will like the food enough to come in and sit down." I found this article very interesting as a General Manager. We recently decided as a brand to begin offering delivery through third party services as we noticed a decline in covers leading to a decline in revenue. This new revenue stream, although at a higher cost, still brings in revenue that we would be missing out on either way. We also offer free appetizer cards for a consumer's next in house visit to help attract new guests.
Joshua Frost

U.S. Hotel Stocks Up 2.95% in August :: Hotel News Resource - 0 views

www.hotelnewsresource.com/Stocks_Up_______in_August.html

hospitality stocks hotel

shared by Joshua Frost on 16 Oct 12 - No Cached
  • The Baird/STR Hotel Stock Index reported a 2.9-percent increase in August to 2,397 and is up 18.4 percent year-to-date 2012. The index ended 2011 at 2,025
  • The Baird/STR Hotel Stock Index reported a 2.9-percent increase in August to 2,397 and is up 18.4 percent year-to-date 2012. The index ended 2011 at 2,025.
  • The Baird/STR Hotel Stock Index reported a 2.9-percent increase in August to 2,397 and is up 18.4 percent year-to-date 2012. The index ended 2011 at 2,025.
  • Joshua Frost on 16 Oct 12
     
    I would like to thank all of you in advance for the lack of highlighting on my part regarding this article. Since the beginning of time, or at least since August, my computer has had a vendetta towards Diigo for reasons that I will never be able to comprehend. Now to the article. A 2.95% increase in the value of United States hotel stock was observed in the month of August and over and 18% per our year-to-date model. For these numbers, we have the accountants to thank. Assuming that the work of accountants is done correctly, we are able to gauge that the status of one our largest industries. In the event that the accountants for these companies do the work incorrectly, the number that we are looking at maybe completely false. The point to all of this is that our market's statistics, such as growth and profit, are all dependent on the work of each company's accountants.
marble_bird

Conditions Associated with Increased Risk of Fraud A Model for Publicly Traded Restaura... - 0 views

shared by marble_bird on 12 Jul 20 - No Cached
  • Many restaurant industry examples provide evidence that as a firm’s internal control structure weakens and deficiencies are found, the opportunity for fraud increases significantly.
  • The main premise of the study tests the application of the fraud triangle framework constructs to publicly traded restaurant companies during the time period of 2002–2014, using proxy variables defined through literature. The proxy variables selected were company size, amount of debt, employee turnover, organizational structure, the Recession, inflation rate, interest rate, executive stock compensation, return on assets, and international sales growth.
  • growing pressures from both passive and active investors to constantly increase their stock value in a competitive world where meeting performance goals are necessary to maintain a competitive edge
  • ...69 more annotations...
  • To meet targets, it is typical for companies to put additional stresses on their internal control structures by reducing head counts, requiring employees to perform more than one job, and rearranging risk profiles
  • The deceptive and corrupt business practicesofthesecompaniesandothersresulted largely from a failure of corporate governance and lack of ethical business practices, in which internal control mechanisms were circumvented by conflicts of interest that enriched executives and damaged shareholders
  • Deficiencies are often observed through review of the main business cycles: revenue and receivables, purchasing and payables, treasury and stock, and financial reporting
  • Internal controls are often the first avenue of protection in safeguarding assets and thwarting and discovering errors and fraud
  • Some research has been conducted in this area, and findings suggest that companies in the telecommunications, technology, financial, and services industries experience the most difficulty with SarbanesOxley compliance efforts because of increased risk of fraud from industry and company risk factors
  • Therefore, pressure resulting from expectations of financial performance, opportunity to circumvent internal controls, and rationalization coupled with certain inherent industry factors may contribute to increased risk of fraud
  • opportunity to engage in unethical behavior may stem from the macro environment, the operational features, and the specific nature of the business cycles
  • Because of this potential for fraud on the company, shareholders, and the public, examining the conditions that may prompt fraud is necessary for the efficiency of the restaurant industry, and namely, for those passive and active investors that are relying on the financial statements to be true and accurate
  • the restaurant industry is often susceptible to deficiencies because of its inherent characteristics and high control risk
  • Corporate scandals, misappropriation of assets and financial statement misstatement are all very real threats to the restaurant industry.
  • the central focus of this study is to understand the factors that contribute to increased risk of fraud to determine why fraud may occur despite the imposed regulation of the Sarbanes-Oxley Act.
  • numerous researchers have found indication that executive stock option compensation provides encouragements for behavior that is fraudulent or corrupt
  • the study seeks to identify the factors that may provide the optimal criteria to engage in fraudulent or opportunistic behavior, using the incidence of a reported control deficiency as the measurable dependent variable.
  • The fraud triangle is the model that explains the factors that may cause an individual or a company to commit occupational fraud.
  • The differing classifications and definitions of pressure provide evidence that the construct is not directly observable; therefore, researchers in this field have measured the construct of pressure through proxy variables
  • consists of three constructs: pressure/motivation, opportunity, and rationalization. The three constructs offer an explanation as to why management commits fraud, and the dynamic relationship that underlies the acts of occupational fraud.
  • pressure may best be classified into four general types that may lead to fraud: financial stability, external pressure, manager’s personal financial situations, and meeting financial targets (
  • when considering measurements of external pressures relating to debt financing, the financial leverage ratio is the most common measurement of the amount of debt.
  • Both pressures and opportunities are often determined by factors that occur at both the individual and company level (
  • ROA, or asset composition, is an appropriate proxy measurement for the pressure of meeting financial targets.
  • according to the fraud triangle, it can be said that opportunity does not exist unless a pressure exists.
  • nonshareable problems could also motivate groups of individuals, representative of a company’s culture, to commit fraud.
  • Opportunity is described as an atmosphere or temporary environment that enables fraud to be committed, usually with a small perceived probability of being caught or reprimanded
  • In a study of Swedish restaurant companies, it is noted that competition is very high, often resulting in price wars among different companies that reduce prices and then try to compensate through increased sales
  • Some risk factors include the susceptibility of the industry to market changes as well as the nature of the industry, coupled with the specific operations of the company such as whether there are significant or complex international operations; how effective management is at monitoring activities within the organization; and the level of complexity that exists in the organization
  • This environment is therefore dependent on the discretionary income of consumers, and this increased pressure may lead to earnings mismanagement through overstatement.
  • Public companies in the restaurant industry are susceptible to opportunities for fraud on the basis of the aforementioned opportunities
  • The ability to commit fraud in the restaurant industry results from inside knowledge of processes and procedures, and the ability to circumvent controls through weaknesses (
  • strong evidence has also linked the CEO position to fraud when the CEO is also the Chairman of the Board. In incidences like this, the CEO is the dominate decision maker for an organization that may provide an increased opportunity for fraud.
  • The underlying reason for these three categories of increased opportunities for fraud is the state of the internal controls structure, and management’s commitment to strong corporate governance
  • Rationalization is essentially an attitude, belief, or position of the mind or ethical personality that enables an employee or group of employees of a company to intentionally misappropriate assets and then defend their dishonest activities
  • Weak corporate governance structures are often presented through ineffective monitoring of management.
  • A quantifiable means of capturing this could be through review of executive stock compensation measures.
  • excessive use of discretionary accruals may lead to poor audit opinions, providing a rationalized thought for business activities.
  • the nature of the restaurant industry is often described as a periodic, seasonal, and cyclic trade
  • Defining parameters for financial reporting can also have an effect on reducing the rationalized behavior and the opportunity to commit fraud
  • Because these conditions have an obvious effect on earnings and measures of success, this seasonal variability and volatility should be considered when analyzing pressures in the restaurant industry
  • For restaurant companies, this means that rationalizations and attitudes can be managed by assessing the internal control environment and understanding the pressures and opportunities that exist for employees.
  • Some restaurant industry pressures that may impact profitable sales growth include a lack of understanding of the consumer’s perception, including the relevance of existing brands, and delays in opening new restaurants. Likewise, an inability to consider cost pressures, including increasing fees for supplies, utilities, and health care providers contracted by restaurants, as well as an incapability of obtaining economies of scale in procurement, could compress margins and negatively impact sales and operations profit margin.
  • The value in the application of the fraud triangle to the restaurant industry provides an opportunity to extend theoretical contributions that originated from mainstream accounting to hospitality literature, which is severely lacking in the current literature
  • Likewise, restaurant companies that are smaller (and therefore may not have strong internal controls) with increasingly complex transactions create additional opportunities for fraud to be committed
  • competitiveness is a condition that makes meeting financial targets difficult and provides opportunity for fraudulent behavior. External pressure from analysts and investors may create an incentive to misappropriate assets, which, in turn, distorts common financial measures of success such as return on assets.
  • when debt financing exists, in order to address past and future obligations, and remain competitive, restaurant companies are at an increased risk of fraud especially when disruptions in financial and credit markets exist.
  • Studies have revealed that restaurant company victory and demise is eventually correlated to restaurant leadership abilities and intentions; therefore, it can be stated that executives and managers’ intentions are of utmost concern in understanding risk of fraud
  • firms with increasingly complex operations coupled with changes in organizational structure have less resources to put into internal controls and are therefore at an increased risk for accounting errors.
  • .Internationalgrowthissubjecttorisks such as international political and economic conditions, foreign currency fluctuations, and divergent cultures and consumer inclinations
  • This study will focus on the variables most pertinent to the restaurant industry on the basis of the inherent characteristics of U.S. publicly traded restaurant companies, as previously described in this section.
  • a s a result of workforce diversity and the presence of many perceived low-skilled workers. In addition, as companies within the industry respond to declining performance, publicly traded restaurant companies may be subject to activist investors who wish to see a change in the executive management team. If a shake-up such as this would occur, the organizational structure of the company may become unstable, resulting in much greater opportunities for fraud to occur at all levels.
  • this study looks to assess the relation between the amount of debt a company has occurred and the incidence of reported internal control deficiencies.
  • Variables relating to rationalization are present in the restaurant industry when considering the motivations and attitudes of management. It is noted that in difficult times, such as the Recession, aggressive financial reporting tactics may be used
  • this study seeks to understand the effect of substantial stock compensation on increased fraud risk.
  • this study also hypothesizes that poor ROA could increase the risk of fraud, as the pressure provides executive management with the motivation to manipulate earnings.
  • this study suggests that the organizational structure of the company may provide opportunity for increased fraud risk through a unitary tone at the top.
  • this study analysed the disclosures of publicly traded restaurant companies to determine whether a company has a higher probability of increased fraud risk on the basis of the presented variables.
  • The results of the applied probit model reveal for the entire population set of publicly traded restaurant companies that the macroeconomic factors of the Recession, interest rate, inflation rate and unemployment rate all have a significant impact on the increased risk of fraud, as evidenced through a reported internal control deficiency.
  • As noted in the overall model, the results reveal that the model as a whole is a significant fit to the data. Although the company-level variables were not significant in the overall model, external factors were each significant.
  • Therefore, it can be said that the results of this study empirically support the intuition that changes in macroeconomic conditions may impact increased risk of fraud for companies in the restaurant industry.
  • It can be said that there is a significant relation between increased risk of fraud and the macroeconomic factors of interest, inflation, and unemployment rates.
  • from a managerial perspective, the study provides evidence that macroeconomic conditions that might affect consumer demand may increase the risk of fraud for publicly traded restaurant companies.
  • In addition to the high costs of compliance, it is also important to recognize additional managerial characteristics that may heighten the effects of the macroeconomic conditions on increased fraud risk.
  • As indicated by the results of the study, however, many times executive management does not recognize the problems associated with the macroeconomic conditions because of systematic perceptual filters that play the crucial role in the functioning of the company.
  • By focusing on the changing macroeconomic conditions that may have an empirical effect on demand, executive leadership will be able to streamline processes to avoid incidences of reporting internal control deficiencies when exposed to the macroeconomic conditions.
  • In the restaurant industry in particular, information is also not readily quantifiable, which makes it even more difficult to transform into meaningful and timely information for executive management. Particular examples include consumer insights and how well new promotions are received and moved throughout the market.
  • it should be noted that reported internal control deficiencies are indicative of increased fraud risk, but not necessarily conclusive that fraud has occurred. Therefore, just because a company has reported a deficiency, it does not indicate fraud, necessarily.
  • According to the model, the managerial factors are only exacerbated by the presence of macroeconomic factors.
  • the identified conditions could help managers to improve internal control when a high risk factor is realized. The contribution of this study may allow restaurant companies to deter activities that may result in increased risk of fraud.
  • Because the study revealed that the macroeconomic conditions were significant for the entire population of restaurant companies, an area of future research might explore the relevance of the co alignment model (Olsen &R o p e r , 1998) to strategic management decisions to reduce the risk of fraud.
  • for purposes of this study, privately traded companies are excluded. This is a limitation of the study because the results may indicate a problem that is more or less pervasive since the sample is representative of a small number of companies in the United States.
  • the model is limited in application because it does not take into account fluctuations among the variables over time.
  • marble_bird on 12 Jul 20
     
    This article covers the methodology and findings of a study conducted to examine the factors contributing to fraud risk in publicly traded restaurants. The article discusses factors in the fraud triangle, macroeconomic factors, and internal company factors that may contribute to fraud despite protections implemented per Sarbanes-Oxley. The study ultimately finds that internal company factors are insignificant when considering the impact on fraud risk, while macroeconomic factors, such as inflation or unemployment, drastically impact the level of fraud risk that a company may face.
Nicole Spencer

Hilden RFID linens for UK hotels - 0 views

www.bighospitality.co.uk/...teliers-to-track-laundry-stock

shared by Nicole Spencer on 03 Nov 12 - No Cached
  • Nicole Spencer on 03 Nov 12
     
    "Hilden, supplier of linen products and related services, has launched a solution for the hotel industry, fitting laundry with ultra-frequency Radio Frequency Identification (RFID) technology, making it easier to track stock. "
  • Nicole Spencer on 03 Nov 12
     
    In the United Kingdom, hotels are using ultra-frequency Radio Frequency Identification RFID Tags to help track linen demand and theft. Supplier of linen products and other related services have offered the hotel industry-fitting laundry with RFID technology. The idea here is for hotels to monitor and control linen demand and theft by allowing them to adjust and manage supplies accordingly. Keeping track of towels and linens has become for some hotels time consuming and costly. This technology gives full control of the rotation of stock removal and creates a platform that enables hoteliers to view stock on a real time basis. How is this done? Each tag is inserted into the product with a unique ID number, making it possible to monitor the number of washes and provide an accurate audit trail.
kathy_douglas

SEC charges Diamond Foods with accounting fraud - SFGate - 0 views

www.sfgate.com/...h-accounting-fraud-5129129.php

accounting fraud

shared by kathy_douglas on 22 Sep 14 - No Cached
  • On Thursday, the Securities & Exchange Commission charged Diamond Foods - the San Francisco purveyor of Kettle Chips, Pop Secret and Emerald Nuts - and it former chief financial officer withaccounting fraud, the finding of a two-year investigation into payment schemes involving walnut suppliers designed to "falsify costs ... boost earnings and meet estimates by stock analysts." It's just the latest shoe to drop for a company that was once close to becoming one of the biggest snack food retailers in the world.
  • "Diamond Foods misled investors on Main Street to believe that the company was consistently beating earnings estimates on Wall Street," said Jina Choi, director of the SEC's San Francisco office. "Corporate officers cannot manipulate fiscal numbers to create a false impression of consistent earnings growth."
  • after a three-month investigation, that $80 million in payments to walnut growers in 2010 and 2011 were not properly accounted for, and demanded a restatement of earnings.
  • kathy_douglas on 22 Sep 14
     
    Diamond Foods was one of the largest snack foods corporations that were involved in an accounting fraud. This was an investigation that was going on for two years that is finally being settled. The former CEO was accused of falsifying costs in order to boost numbers on the stock market. The costs of walnuts had increased, however, former CFO was hiding that fact and misleading the market to let them believe Diamond Foods was beating earning estimates each time. Diamond Foods was acquiring Pringles but fell apart due to the scandal; this would have been a $2.5 billion deal. Talk of bankruptcy, stocks taking a nose dive, and a breach in loans made the banks take a step back, however, the company persuaded them to continue holding out for them. Diamond now has a new CEO and things are slowly starting to turn back around for the company. It's unfortunate that companies feel they have to lie, cheat and steal just to come out ahead. Some companies are getting away with it, but eventually it all goes back around.
anonymous

Technology: Accountancy systems for hotels and restaurants - 3/13/2006 - Caterer and Ho... - 1 views

www.caterersearch.com/...for-hotels-and-restaurants.htm

shared by anonymous on 18 Oct 12 - No Cached
  • The best course of action for smaller hotels and restaurants at present is to use generic accounting software for small businesses, populated with data from other specialist software packages designed for their specific sector. Hotels may find themselves using reservation data from property management systems, for example, while restaurants will want to use data from food and beverage control software packages to feed their accounting software.
  • It took hours and hours. On Sunday morning it now takes me half an hour.”
  • The best course of action for smaller hotels and restaurants at present is to use generic accounting software for small businesses, populated with data from other specialist software packages designed for their specific sector. Hotels may find themselves using reservation data from property management systems, for example, while restaurants will want to use data from food and beverage control software packages to feed their accounting software.
  • ...1 more annotation...
  • Restaurants need an accounting system that addresses issues like excess wastage on different product lines, and consumption of different products, rather than mere stock control. In hotels, accounting systems need to cope with everything from varying room rates, different ways of charging for phone calls, customer discounts, loyalty programmes and everything in between.
  • Minghui Zheng on 18 Oct 12
     
    Accountancy system is the necessary for both restaurants and hotels. Restaurants need an accounting system that addresses issues like excess wastage on different product lines, and consumption of different products, rather than mere stock control. In hotels, accounting systems need to cope with everything from varying room rates, different ways of charging for phone calls, customer discounts, loyalty programs and everything in between. Accounting system has following features. First, accounting system can back up data quickly and easily. Second, it has comprehensive reporting capabilities, which enable you to monitor ongoing trends within your business. Third, it is easy to use. The last one is automation. You should be able to automate common tasks such as producing invoices and running regular custom reports.
  • anonymous on 20 Oct 12
     
    The accounting systems are really different in restaurant and hospitality. but all of them are make work more and more easier and efficiency. In restaurant, the accounting system contain different product lines, the consumption of different products and stock control. In hotels, accounting system should contain varying room rates, defferent ways of charging for phone calls, customer discounts, loyalty programmes and so on. If the accounting system software is fit for your hotel or restaurant, it will save not only time but labor cost.
shuo zhang

http://www.diigo.com/annotated/fe29217bb58991b72a0872a02cd04034 - 0 views

www.diigo.com/...29217bb58991b72a0872a02cd04034

shared by shuo zhang on 18 Oct 12 - No Cached
  • shuo zhang on 18 Oct 12
     
    Hospitality stock prices do drift, but only for about 20 trading days, so we view hospitality stocks as being more efficient than stocks in general. the stock of the hospitality is a big marke for the
Emily Bova

Integrating Tablets and POS Software For Retail - 0 views

pointofsale.com/...d-pos-software-for-retail.html

tablets pos retail mobile

shared by Emily Bova on 23 Feb 12 - No Cached
  • Good Technology's quarterly data report from July, 2011, shows that the iPad made up 27 percent of all workplace device activations during the quarter, second only to the iPhone
  • a national survey by RIS (Retail Info Systems) News reports that 28 percent of retailers are currently testing tablets in their stores, while 31 percent plan to try them out this year.
  • Emily Bova on 23 Feb 12
     
    More and more retail stores are converting to iPad tablets as their POS software. Some stores are using them only for customer internet searches and product display capabilities but many are starting to use them for bigger tasks such as checking inventory and entering product orders. This takes away the need to run back and forth between the stock room and sales floor with pen and paper. As a result, customer service is increased because sales floor presence is greater. Some benefits of order management using the tablets as their POS software are increased employee productivity, reduced out-of-stocks, and more payment flexibility. Now you can use tablets as payment devices with credit cards.  DecisionPoint Systems, a leading provider of mobile and wireless systems for retailers, is now offering an application to help retailers personalize their customers' shopping experience. Aruba Networks has recently presented a new tablet-based software that allows customers to check out from anywhere in the store. Having worked in the retail industry for many years, I think this technology for back-office purposes is very useful. One of my employers had started using tablet technology during my time there and I can attest that it does increase employee productivity. It makes doing inventories, size checks, and ordering management so much easier and faster. Employees are able to stay on the sales floor longer which is especially beneficial in the case of being short-staffed or during shift changes. However, I am a bit skeptical about using these tablets as a form of check out from anywhere in the store. Unless the store has security measures in place for this, it does not seem very theft resistant. Especially in a clothing retailer in which sensors need to be removed. The cashier would have to be carrying around a sensor remover at the time of check-out to make this system really time-saving. 
rpere092

Marriott's Acquisition of Starwood Receives Antitrust Approval in China; Marriott and S... - 0 views

www.hospitalitynet.org/...4078329.html

shared by rpere092 on 26 Sep 16 - No Cached
  • As this was the last regulatory approval required to complete the merger, Marriott and Starwood are now able to proceed with closing the transaction and expect the transaction to be completed before the market opens on September 23, pending satisfaction of customary closing requirements. Upon closing, Marriott will solidify its status as the world's largest hotel company.
  • Starwood expects its shares will cease trading on the New York Stock Exchange before market open on September 23, 2016. As previously announced, Starwood shareholders will receive $21.00 in cash and 0.80 shares of Marriott International, Inc. Class A common stock for each share of Starwood Hotels & Resorts Worldwide, Inc. common stock.
  • Assuming that the transaction closes as expected, former Starwood shareholders will be entitled to receive Marriott's quarterly cash dividend of 30 cents ($0.30) per share of Marriott common stock that Marriott's Board of Directors declared on September 13, 2016 and which is payable to all Marriott shareholders of record at the close of business on September 23, 2016.
  • ...1 more annotation...
  • The parties' plans for closing the merger transaction and delisting Starwood Hotels & Resorts shares are "forward-looking statements" within the meaning of U.S. federal securities laws, and are not historical facts.
  • rpere092 on 26 Sep 16
     
    This article showcases the possible merger of Starwood Hotels and Marriott International. Per the article, the merger has not been confirmed but if and when it goes through, Marriott will become the world's largest hotel company.
asanc036

7 restaurant technology trends to watch in 2022 - 2 views

hospitalityinsights.ehl.edu/restaurant-technology-trends

restaurant technology trends

shared by asanc036 on 30 Aug 21 - No Cached
  • Many restaurants have turned to tech in the last couple of years, even if reluctantly, to adapt to a new reality.
  • 1. Online ordering systems and delivery apps
  • he food delivery market is now worth more than $150 billion globally, which has more than tripled since 2017 largely attributed to the pandemic, according to statistics from McKinsey.
  • ...26 more annotations...
  • 2. Contactless payment
  • It’s estimated that contactless payments will triple from $2 trillion to $6 trillion worldwide by 2024, and having such options are reportedly extremely important for 34% of customers.
  • 3. Online table reservation system
  • initiative Experiences
  • OpenTable is offering
  • unique culinary events and dining experiences
  • Ramen Nights in celebrity chef Hugh Acheson’s dining room, a ‘side-dish’ of line dancing lessons or a fixed-price tasting menu,
  • 4. Digital kitchen ‘boards’
  • Kitchen Display Systems (KDS) are a digital menu board for kitchen staff
  • Directly linked to the restaurant’s point-of-sale (POS) system, the screen displays orders automatically according to priority and flagging any special dietary requests.
  • racking meal delivery times and monitoring inventory to signal when a product is out of stock,
  • 5. Automated inventory management software
  • tracking food and beverage stocks, anticipating quantities and even scheduling reorders
  • implementation of such software
  • reduce food wastage, which is reportedly costing the hospitality industry $100 billion annually.
  • (AI) technology, companies like Kitro
  • cut food waste and costs
  • platforms like Too Good to Go also save restaurants from wasting their food surplus
  • 6. QR codes
  • QR codes
  • allows customers to access online menus, order and pay – without contact –
  • 7. Air purification technology
  • bipolar ionization
  • purifies the air and surfaces in indoor spaces by neutralizing contaminants
  • systems which make use of ultraviolet light
  • f both air and surface sanitization
  • dnune013 on 30 Aug 21
     
    "Technology and innovation are what have helped, even saved, restaurants as they transform how they operate to not just survive, but thrive, in this new connected and contactless era" "Third-party food delivery apps like UberEats, Foodpanda, or Door Dash will continue to be an important solution for those not able to offer in-house ordering and delivery services" "Contactless technology is going mainstream, and it's not just about placing an order online, but also about paying with a smartphone, smartwatch or smartcard via an app or touchless device" "technology-enabled reservation systems, restaurants can manage seating, waitlists, customer loyalty and dining preferences as well as collect vital client data be it for contact tracing or market insights" "Kitchen Display Systems (KDS) are a digital menu board for kitchen staff helping restaurants streamline back-of-house operations" "companies like Winnow are helping restaurant owners and managers cut food waste and costs and run their businesses more efficiently and sustainably" "auto-scanning barcodes with smartphone cameras on posters, tables, coasters, doors or websites allows customers to access online menus, order and pay - without contact" "air purification technologies to promote 'clean air'" https://diigo.com/0lmspn
  • dnune013 on 30 Aug 21
     
    Some of these technologies such as food delivery services, and conctactless payments I have grown used to as a consumer. However, technology like KDS to improve the back of house operations or air purification technologies are more behind the scenes type of technologies that I have not given much thought so I found this article interesting.
  • asanc036 on 27 Aug 22
     
    Many restaurants are adapting to a new reality. Some of the digital trends to watch in 2022 are as follows: 1. Online ordering systems and delivery apps - Food delivery market worth more than $150 billion globally. 2. Contactless payment estimated to triple from $2 trillion to $6 trillion by 2024. 3. Online table reservation system such as Open table Experiences initiative offering unique culinary events and dinner experiences. 4. Digital kitchen boards such as KDS, a digital menu board for kitchen staff linked to the restaurant's POI which displays orders automatically and efficiently. 5. Automated inventory management software tracking food and beverage stocks, anticipating quantities and scheduling reorders. 6. QR codes that allow customers to access menus online, order and pay. 7. Air purification technology like bipolar ionization and ultraviolet light.
Xiaoqing Zhang

BENEFIT - 0 views

consultbenefit.com/...osts-and-increase-efficiencies

shared by Xiaoqing Zhang on 05 Apr 13 - No Cached
  • Technology has been a key driver of growth for the hospitality sector over the last decade. New technologies for jobs like real-time inventory access, seamless exchange of operational information and collation of key performance data, have transformed the hotel and restaurant business. And the biggest positive from this process has been the enhanced customer experience, leading to higher loyalty. Thus, technology has increased profits for restaurants and hotels, and also helped in reining in costs on a long-term basis by reducing manpower and improving the quality of service.
  • Key technologies used Currently the most popular technologies being used are accounting systems for back office needs and the Internet, along with POS solutions for front office solutions. These systems are found in over 90 per cent of the establishments in the industry.   K Ramakrishnan, president, Marketing, Café Coffee Day, says “The two key technologies we use are POS for our café operations and ‘SAP IS Retail’ for the back-end warehouse supply chain requirements. Besides, our Cafés are Wi-Fi enabled. We also use Facebook and Twitter to understand and listen to what our consumers have to  say. It serves as an excellent tool to receive reviews on what we do and how we can make the café space more fun and exciting. We use these inputs to refresh our menu, look and overall feel,” he adds.
  • Touch screen POS: Point of sale systems now have a touch screen  display to allow cashiers and servers to input orders. It automatically sends the order to the kitchen without the need for a call or a manual dining ticket. The latest POSs can even send separate dining tickets for different food preparations, for an order. Stock and time clock management: These two components can be directly integrated in the latest POS terminals, allowing employees to clock in and out of any POS. The central computer keeps tab of the hours worked. It also allows computers to keep track of food and dry stock, based on the orders that are coming back through the POS system. It alerts the server, if a particular ingredient is out of stock. Technology also helps accurately measure the exact amount that goes into a fryer basket or in portions/ servings. This helps in maintaining the same standards each time an order is placed. Modern financial control tools allow managers to make balance sheets, statements of cash flow and income. There are advanced softwares available, which help the management get a clear view of the finances involved in the day-to-day running of the restaurant. Future technologies Many new technologies are also knocking at the door of the Indian hospitality industry. Internationally, these tools are already in use to improve efficiency. For instance, client server technologies (CST) offer great advantages to mid and large sized multi-property hospitality chains. They allow owners to effectively integrate disparate systems like multiple computer platforms or software, accumulated over the years. They simplify report generation and MIS (management information system) support, making these functions more efficient. Players that are in expansion mode and are trying to overhaul their IT infrastructure can use these solutions to reduce their IT costs and improve staff productivity. Software as a service (SaaS) or pay as-you-go services (where software such as ERP solutions are made available on demand over the Internet and users are required to pay a monthly rental based on the time and nature of use) have also emerged as another cost effective way of handling data and processes over the Internet. Here, companies can reap big dividends by effectively cutting down on their system maintenance costs. Green technology is another option, players can look at. It helps improve sustainability in areas like energy efficiency through the use of solar power for cooking or water heating. Solid waste management, plastic and paper recycling machines, rain water harvesting, and water efficient technologies, are other green technologies. If deployed in earnest, restaurants and hotels can reap long term benefits,besides scoring high on environment friendliness and brand image improvement, among customers.
marilyn diaz

7 reasons to switch to a point-of-sale system - 0 views

www.microsoft.com/...to-a-point-of-sale-system.aspx

pos saving tools good reasons system switch

shared by marilyn diaz on 10 Sep 12 - No Cached
  • If you're a veteran retailer, you know the problem: Your inventory doesn't match your tallies. Sales are going unrecorded. Your staff is spending far too much time chasing mistakes instead of tending to customers.
  • These and other snafus suggest that it's time that your business did away with its cash registers and stepped up to a point-of-sale (POS) system
  • A POS system is a computer software and hardware network that records sales as they're occurring; it solves a variety of operational and rec
  • ...22 more annotations...
  • 1. Your "sudden shrink" no longer goes undetected.
  • Rather than wrestling with cash-register receipts at day's end, a POS automates the process of introducing markdowns and, in turn, tracking them accurately.
  • "Almost every modern POS has a receiving and inventory module that, when used properly, can help pinpoint the cause of the shrink."
  • 2. Markdown management is much easier.
  • record any and all sales. Not only does that mean timely and accurate sales tracking, but a POS system also lets you readily identify inventory levels, particularly when what you have on the books doesn't jibe with actual stock.
  • Whether through coupons, special discounts or other vehicles, promotions can be central to attracting and retaining business. Trouble is, managing and reconciling short-term specials
  • a point-of-sale system ensures pricing consistency.
  • The POS store can pretty much tell you to the penny how they did."
  • You may be surprised to discover that you actually run two businesses: one when you're there and its evil twin when you don't happen to be around.
  • 4. You can maintain control in absentia.
  • Many operations suffer in employee efficiency and customer service when the boss is away
  • You simply can't be there all the time,"
  • 5. Your prices are consistent from one location to the next.
  • Nothing can prove more embarrassing than having a customer question why one item has one price at one store, yet a different price at another
  • 3. Promotions can be tracked more successfully.
  • 6. You get many tools in a single package.
  • If you find your checkbook wearing thin from the expense of software and other gear, a comprehensive point-of-sale system may include them in a single package.
  • "Most POS systems have add-on modules like payroll time clocks and customer preference databases
  • 7. You can make better use of your personnel.
  • Little is more maddening to a business owner than watching his or her staff bogged down with inefficient, unproductive responsibilities, from double-checking inventory disparities to seemingly endless cash-register reconciliation.
  • Perhaps the greatest advantage to a comprehensive point-of-sale network is the freedom it can afford your personnel to devote their energy to what genuinely matters the most: helping customers
  • That means they no longer have to be counting, calculating, ordering, and checking cash-register accuracy."
  • marilyn diaz on 10 Sep 12
     
    This article deals with the seven main reasons on why a company should switch to a point of sales system. There are a few different systems for example Microsoft Dynamics Retail Management System. There are seven signs that your business can boom if you consider using pos. POS allows you to always know your inventory going out and in stock. Marking down merchandise is always correct and accurate. Promotions can be tracked more successfully, especially if you have more than one location. You can always have some sort of control, even when the boss is away. The business can also get m multiple tools with pos, such as payroll time clock and customer preference databases. Last, businesses can place their human employees where they really need to be, helping customers.
Yudika Claude

Using Spa Management Systems to Enhance Profitability | By Bill Healey - 1 views

www.hospitalitynet.org/...4055658.html

shared by Yudika Claude on 23 Feb 15 - No Cached
  • The spa industry, like all business sectors, is continually monitoring performance to ensure they"re meeting revenue and profit targets. Software tools have been available for more than a decade to assist directors in managing and enhancing the way they do business.
  • Utilizing software tools, the spa is able to enhance the ways in which they interact with their guests
  • Build and maintain an extensive database of information on the spa"s guests.
  • ...8 more annotations...
  • data into usable, accessible management and marketing information. Ensure the data is up-to-date, allowing you to analyze historical data to identify trends.
  • Share data across with proper management and marketing personnel to provide staff with a 360-degree view of the guest.
  • enhancing your guest relationships further though the use of social media.
  • Knowing more about the historical sales pattern at the spa"s retail shop, and keeping track of minimum stock levels will assist in lowering the cost of both retail and professional stock.
  • lower levels of inventory can be stored in both the boutique and treatment rooms. Each item is given a value that alerts management when these low-inventory levels are met. Further, the system provides re-stock levels to ensure spa management places an appropriate order with suppliers.
  • Attaching spa reservations to a guest"s profile in the PMS is important, as it helps reduced missed revenues from no-shows. Without a fully integrated spa and PMS solution, it is common for a guest to cancel or change a hotel reservation without notification ever making it to the Spa. When the guest is a no-show at the spa, they lose the guest"s revenue and have a therapist not being utilized.
  • working with a single system will help reduce the amount of time and effort required to collate and analyze data from spa sites around the world. A single interface and a single method to collect data should make it easier for the corporate office to review vital sales and revenue data.
  • also facilitate the vendor-client relationship,
  • Yudika Claude on 23 Feb 15
     
    I found this article to be really interesting as it explains the use of technology in spas. There are many benefits to using such systems in the spa industry. The link between PMS and the spa booking system improves relations with clients, and increases the likelihood of clients returning to a spa where they have previously felt welcomed and valued. I must admit that I am not a big fan of the 360 view of guests' profile that this technology promotes, I feel like it is an invasion of privacy of some sort. However, I understand that some guests appreciate when their preferences are met each time they visit a spa. At the end of the day, the use of spa management systems is a great way for spas to drive up the revenue and maximize their profits.
irinadolgopolova

6 0cBenefits 0c 0cof 0c 0ca Food & Beverage 0cPOS 0c 0cSystem 0c 0c 0c - 1 views

www.embedcard.com/...d-beverage-pos-system-benefits

technology Tech software hospitality POS

shared by irinadolgopolova on 29 Jun 20 - No Cached
  • An effective POS solution for restaurants, bars or food service at attractions, entertainment and leisure venues can streamline a restaurant’s activities, saving time processing orders and money due to potential human error and customer loss.
  • The great thing about restaurant, entertainment or fun center POS systems now is that as they revolve around cloud-based software, the costs to upgrade to update is much lower as the equipment is already there and ready to go.
  • Once you’ve set up your entertianment POS or fun center POS system you must transfer your menu into the POS software to enable your servers to quickly record the customer’s order and allow for the customer to be charged the correct amount. To make the most out of the inventory management you will additionally have to record existing levels of stock, and how much each item on your menu depletes the respective products within your inventory. This will also mean that you must consistently update the inventory levels when they are replenished.
  • ...10 more annotations...
  • Waiters have continuous mobility around the restaurant, while clearly communicating and recording orders. This gives the customers the convenience of table side ordering, whilst also allowing the orders to recorded and distributed seamlessly.
  • Another great benefit of using a entertianment POS or fun center POS system is that it avoids a lot of human errors in the communication between the waiters and the kitchen or bar staff. The cloud based system means that the orders are clearly recorded for the staff, forgoing any potential penmanship or shorthand issues.
  • Inventory management is another great feature of the entertianment POS or fun center POS system and it will allow your business to keep up to date with its inventory levels and knowing exactly when to restock their goods.
  • it can also be utilized in the building of customer relationships. Collecting customer details, namely an email address, will mean that you can communicate with past customers after their visit.
  • A entertianment POS or fun center POS system with a modern payment processor can allow your business to stay up to date with the majority of businesses, accepting credit cards and allowing customers to use their tap and go cards or functions like Apple Wallet and Google Pay. A entertianment POS or fun center POS system will also greatly improve the overall speed of the checkout process, making hard copies of orders expendable and recording them digitally in real-time.
  • Theft control may not seem like a particularly pressing issue, especially if your products are behind the counter and require customers to order and pay for them before accessing them. Regardless, a entertianment POS or fun center POS system will make you aware of any potential issues of theft through tracking what is ordered and what is paid for.
  • It is important to have set measures for staff to follow in recipes, which allows you to see how much inventory is actually left compared to how much should be left based on the inventory management system.
  • Through the continuous tracking of your levels of inventory, you’ll be able to identify trends in how each of your individual levels of stock are used in specific times. Not only can this aid in the planning and managing of stock, but it will also identify which products are popular within specific times of the year. This is valuable information and can be effectively utilized through your promotion and marketing, enticing more people to your family entertainment centre.
  • Managing an entertainment business requires a great deal of organization throughout all levels of the business. POS systems offer a great range of benefits aiding in the simplification of many business processes, from inventory management to staff management.
  • Clearly managing time clocks, scheduling which employees work each shift, keeping payroll up to date are all tasks entertianment POS or fun center POS can potentially assist with.
  • irinadolgopolova on 29 Jun 20
     
    In this article the food and beverage POS systems are described and discussed. The author explains why POS systems are important for the restaurants and entertainment centers, how to build those systems, how much would it cost to the businesses and what POS is exactly. Other than that, the benefits of installing POS systems are pointed.
kbroo026

Customer Acceptance of Use of Artificial Intelligence in Hospitality Services: An India... - 0 views

journals.sagepub.com/...0972150920939753

AI technology hospitality India

shared by kbroo026 on 24 Jan 22 - No Cached
  • Scholars and practitioners alike, backed by strong empirical evidence, attribute this rising trend in the use of AI-related technologies to the fact that AI-driven applications and robots demonstrate superior information processing and enhanced, cognitive and task capabilities when compared to the ones that are demonstrated by traditionally used mechanisms
  • past studies have shown that the factors such as customers’ service quality features, frontline assistance, customers’ expectations of AI devices (Stock & Merkle, 2017), device aesthetics, appearance, perceived usefulness of AI devices and service robots and social capability (Song, 2017) influence the acceptance and adoption of AI devices and the related technologies.
  • customers are likely to accord much importance to the process of appraising AI devices and related technologies by comparing them with the services that human employees are likely to deliver
  • ...2 more annotations...
  • AI-driven technologies are considered to be intelligent devices; therefore, customers exposed to AI are not expected to learn many new aspects of these devises upfront so as to operate them effectively.
  • Notwithstanding the benefits of AI, it is also probable that an ill-planned transition into AI will lead to unprecedented levels of disruption in the sector if such transition happens without a clear understanding of what facilitates customers’ willingness to accept AI.
  • kbroo026 on 24 Jan 22
     
    This study looks at Indian hospitality consumers' willingness to accept AI and its associated technology. Being that hospitality consumers are most interested in "fun and indelible stay experiences," AI for hospitality must provide service as great as or better than human professionals. Over time, it is the conclusion that AI can be welcome by most consumers of hospitality products and services.
Hanlu Hu

7 reasons to switch to a point-of-sale system - 0 views

www.microsoft.com/...to-a-point-of-sale-system.aspx

shared by Hanlu Hu on 23 Feb 13 - No Cached
  • Hanlu Hu on 23 Feb 13
     
    This article summarized seven reasons to switch to a point of sale system.1. Your "sudden shrink" no longer goes undetected. Almost every modern POS has a receiving and inventory module that, when used properly, can help pinpoint the cause of the shrink. 2. Markdown management is much easier. The trends in POS are not just inventory accuracy but the use of pricing models to allow for markdown management. 3. Promotions can be tracked more successfully. 4. You can maintain control in absentia. Many operations suffer in employee efficiency and customer service when the boss is away. Automating a host of functions via a POS can help boost those areas, no matter where the head honcho happens to be. 5.Your prices are consistent from one location to the next. a POS system automates overall inventory control, helping to keep stocks in proper balance depending on demand and other factors, which can vary from one location to the next. 6. You get many tools in a single package. Most POS systems have add-on modules like payroll time clocks and customer preference databases. That removes the need for small businesses to invest in separate systems for those purposes. 7. You can make better use of your personnel. A good POS allows you to allocate your human resources to the customer service area of the business. That means they no longer have to be counting, calculating, ordering, and checking cash-register accuracy.
Dalton Draper

7 reasons to switch to a point-of-sale system - 0 views

www.microsoft.com/...to-a-point-of-sale-system.aspx

POS small business ease of life owners

shared by Dalton Draper on 03 Oct 12 - No Cached
  • By Jeff Wuorio If you're a veteran retailer, you know the problem: Your inventory doesn't match your tallies. Sales are going unrecorded. Your staff is spending far too much time chasing mistakes instead of tending to customers.
  • 1. Your "sudden shrink" no longer goes undetected
  • Retail Management System are designed to immediately record any and all sales. Not only does that mean timely and accurate sales tracking, but a POS system also lets you readily identify inventory levels, particularly when what you have on the books doesn't jibe with actual stock
  • ...16 more annotations...
  • 2. Markdown management is much easier
  • knowing which items have been marked down and recording those discounts accordingly
  • a POS automates the process of introducing markdowns and, in turn, tracking them accurately
  • not just inventory accuracy but the use of pricing models to allow for markdown management
  • . Promotions can be tracked more successfully
  • Whether through coupons, special discounts or other vehicles, promotions can be central to attracting and retaining business. Trouble is, managing and reconciling short-term specials—not to mention pinpointing their impact—can be nigh impossible without the automation and immediacy of a point-of-sale system.
  • 4. You can maintain control in absentia.
  • Many operations suffer in employee efficiency and customer service when the boss is away.
  • POS can help boost those areas, no matter where the head honcho happens to be."You simply can't be there all the time," says Jim Melvin, chief executive officer of Siva Corp
  • "A POS lets you have that important level of control when you're not there."
  • 5. Your prices are consistent from one location to the next
  • If your business operates at more than one location, a point-of-sale system ensures pricing consistency.Even better, a POS system automates overall inventory control, helping to keep stocks in proper balance depending on demand and other factors, which can vary from one location to the next.
  • . You get many tools in a single package
  • "Most POS systems have add-on modules like payroll time clocks and customer preference databases," says Rarrick. "That removes the need for small businesses to invest in separate systems for those purposes."
  • You can make better use of your personnel
  • A good POS allows you to allocate your human resources to the customer service area of the business," Ruffing says. "That means they no longer have to be counting, calculating, ordering, and checking cash-register accuracy."
  • Dalton Draper on 03 Oct 12
     
    This article talks of seven ways in which a POS system can help a small or medium size business through making the owners responsibilies easier to manage. The tools provided by the POS system can help with everything from payroll, to inventory, to pricing and coupons or sales.
Avril Emmanuel

POS Systems Proven to Increase Profitability by Streamlining Operations - 0 views

ezinearticles.com/?POS-Systems-Proven-to-Increase-Profitability-by-Streamlining-Operations&id=7127999

shared by Avril Emmanuel on 25 Jun 12 - No Cached
  • A retail business needs to analyse every aspect of their operations in order to improve efficiency and thus reduce costs.
  • POS Systems Enhance Efficiency and Reduce Overheads
  • A retail store entails a massive number of operations on a daily basis and the more you can streamline and automate these operations, the lower your costs will be
  • ...3 more annotations...
  • POS Systems Help Retail Operations Optimise Their Inventory
  • POS systems make these problems obsolete because they are designed to show you the sales trends in your own store.
  • POS systems are designed to help retail operations streamline their processes and enhance their profitability by automating many operations and allowing staff to focus on the customer.
  • Avril Emmanuel on 25 Jun 12
     
    This article talks about how a POS system is designed to help a business reduce cost and increase profit. As the article states a POS system would 'Enhance Efficiency and Reduce Overheads and help Optimize Inventory." Instead of relying on employees to keep track of what inventory is in stock and what isnt, the POS system would do this automatically and also show which products sell more than others. "Some will perform better than others and you can see this at any time, allowing you to maintain better control over your inventory to maximize sales."
Christina Eveillard

E-COMMERCE REPORT - Baby Essentials Succeed Where Pet Food Failed - NYTimes.com - 0 views

query.nytimes.com/...fullpage.html

E-commerce

shared by Christina Eveillard on 04 Feb 12 - No Cached
  • Christina Eveillard on 04 Feb 12
     
    The e-commerce is facing the same problem as the on site retailer when it come to competition and sustaining their business. They constantly have to come up with new strategies in order to stay in the competition. So far the only company that has been   successful at sustaining the competition on has been Amazon with his plan, which offers a discount to the subscribers, which allow them to save on the shipping cost. Diapers.com also adopts a new technology, which consist on a discount rate for overnight shipping because after surveying their consumers they realized that most of their costumers wait until the cost of diapers is almost done to order a new stock therefore they will still make a profit even though they offered a discount. To be in the e-commerce business one always have to change its  strategy.
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