Discuss about the Point of Sale for International Journal of Hospitality Management.
Point of sale is also known as point of service as it deals with sales, customer’s issues and dealing with new orders. In this report detailed decision is done about point of sale along with the risks associated with point of sale. IT has various type of security issues associated with it that have been analysed in this report. Additionally, the types of telecommunication in network and its terminologies have been discussed.
Point of sale is a new technology that is been adopted by every industry as it not used for dealing the sales of products but it take care of all the return policies and new products that are launched in the market (B2C, 2018). It has made the business work automatically by removing the manual work of tracking the sales status. It simplifies the business operations by making it automatic.
There are various advantages of point of sale system, discussing some of them.
The point of sale system has some of the drawbacks.
It is true that working with point of sale system will help business gain the competitive advantage. Competitive advantage helps the business to gain higher sale margin with better profit. It attracts more audience to offer unique advantage to the company. It helps the business as it provides better customers experience’s which help the business to compete with other businesses serving the same products and services (Alexander and Schantz, 2017). Competitive advantage helps in getting deeper knowledge about the business by understanding why the business is lagging in the market. This design innovative marketing strategies to improve the sale in the market. It also delivers report on regular basis so that proper analysis could be done to make the decisions faster and improve the business strategies (Good, et. al, 2018). This has provided ease to customers as they do not need ot wait for longer time to get their services.
In today’s era, where everyone wishes to get their products and services instantly and expect for quick response, point of system is used to resolve the concern. It is the fast growing technology that provides better customer experience (Mohammed and Saleh, 2017). It supports online payment options and provides a two way communication facility from anywhere and at any time. PoS help business to get competitive advantage as it segregate the business from other competitors by making it more effective. It helps the business to stand out other businesses by offering better opportunities and speed. Point of sale helps in expanding the business by offering lower upfront cost (Huang, et. al, 2014).
As stated in case study, Four Seasons Greenhouse and Nursery uses POS system that has eliminated the means of tracking sales manually. It focuses on tracking the sales data automatically and instantly at the time of the sale. This has helped four seasons greenhouse and nursing has it reduced labour expenses and gained popularity in economical world with extreme efficiency.
Centralized database system is a collection of all the similar databases at a single location. It is very useful as it enhances the speed of processing and improves the performance of the system.
Various advantages offered by centralized database system are:
It is possible to track the information manually but this is very time consuming process and requires a lot of efforts. Keep the track of data manually is a complex process and decreases the efficiency as information is not updated and more staff is needed in the company to handle the tasks.
The automatic generation of reports is useful as it helps in visualizing the situation in a better way (White & Mobility , 2015). The plans are designed after understand the issues. Point of sale system gives alert in the system whenever services or products go out of stock. Thus it helps in maintaining the demand and undertaking decisions for betterment of an organisation.
Point of sale technology has turned out to be very beneficial for business as it has reduced the paper work. Additionally it has saved the useless efforts and time by making better customer relation (Bemmel and Mian, 2014). All the information can be managed in a better way as it is done automatically rather than making the reports by manual work. It all also provides more accurate result without any errors.
Point of sale system requires a telecommunication network for exchanging the information between different parties. A proper link is needed to transmit the message, signals and information (McNamee, et. al, 2015). Some telecommunication networks that can be used with POS system are:
The telecommunication technologies include either wired technology or wireless technology. In wired technology communication between devices are done using cables and wires wherein the wireless technology communication is done through radio waves rather than cables. Advantage of wireless network over wired network is mobility and freedom to move and work. It suffers in terms of speed and security of data. Additionally, wired networks are difficult to install and it also increases thefts (Tseng, Lee and Tseng, 2015). However the cost of transmission is high in wireless system but it covers wider area for communication. Wireless systems are reasonably maintenance-free as they can be easily maintained.
There are various risks associated with the system that is privacy, confidentiality and security. Point of sale system is important to be secured as it stores all the sensitive data of the business like information of cards, emails as well as private data. Point of system can run on any operating system like Windows, Linux as well as UNIX which increases the chances of flaws (Mateu, et. al, 2015). There are various risks associated with the network like it gives access to third party users by leaking the confidentiality and getting the data hacked by the attacker. Risk management is a procedure that allows user to take vital decisions to avoid possible threats to hit the system.
Privacy of data is required to keep sure that data remains confidential. Proper access should be decided about who can read, write and modify the data (Norp, et. al , 2015). Security of information is important to keep the information confidential, available and integrated and ensuring that data is available to only authenticated user (Weiss, Cosart, Hanssen and Yao, 2016).
For better development in the society advanced and updated tool must be use so that business could grow rapidly. In the IT world, there are several vulnerable threats which can cause serious loss of information as unauthorized user tries to gather information which can be misused and leads to business disruption.
Conclusion
It can be concluded that information technology has transferred the ways in which business operates. The use of point of sale system has added effectiveness in working of the business. It has allowed firms to increase their efficiency and effectiveness by enhancing the growth. The case study has helped in analysing how point of sale has helped the business to work.
References
Alexander, C.R. and Schantz, J.M., Hartford Fire Insurance Co (2017). Graphical user interface for tracking data access and data changes in a centralized database. U.S. Patent Application 14/829,155.
B2C, (2018) , The Importance of Information Technology In Business [Online] Available at: https://www.business2community.com/tech-gadgets/importance-information-technology-business-today-01393380. [Accessed on 12 May’18]
Bemmel, V. and Mian, S., Open Invention Network LLC (2014) Method and system for providing biometric authentication at a point-of-sale via a mobile device. U.S. Patent 8,880,434.
Berezina, K., Semrad, K.J., Stepchenkova, S. and Cobanoglu, C. (2016). The managerial flash sales dash: Is there advantage or disadvantage at the finish line?. International Journal of Hospitality Management, 54, pp.12-24.
Blake III, N.P., Collier, C.L., McGregor, G.M. and Koser, V.R., NCR Corp (2015). Centralized user preference management for electronic decision making devices. U.S. Patent 9,021,363.
Good, T., Kearney, S.P., Giordano, P.A., Van Horn, E., Pierce, R., Colavito, S., Wilz, D., Cunningham IV, C.J., Miraglia, M.V. and Xian, T., Hand Held Products Inc (2018). Point-of-sale (POS) code sensing apparatus. U.S. Patent 9,898,635.
Huang, J., Ahmad, U., Antonicelli, A., Catlin, A.C., Fang, W., Gomez, D., Loehrer, P., Lucchi, M., Marom, E., Nicholson, A. and Ruffini, E. (2014). Development of the international thymic malignancy interest group international database: an unprecedented resource for the study of a rare group of tumors. Journal of Thoracic Oncology, 9(10), pp.1573-1578.
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Mateu-Gelabert, P., Guarino, H., Jessell, L. and Teper, A. (2015). Injection and sexual HIV/HCV risk behaviors associated with nonmedical use of prescription opioids among young adults in New York City. Journal of substance abuse treatment, 48(1), pp.13-20.
McNamee, A., Dunne, C.R., Hogan, J., Lehane, B. and D’souza, A., Openet Telecom Ltd, (2015) Systems for enabling subscriber monitoring of telecommunications network usage and service plans. U.S. Patent 8,929,859.
Mohammed, A. and Saleh, B.M. (2017). Centralized Database: A Prerequisite for Security and Sustainable Development in Nigeria.
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Tseng, C.H., Lee, K.Y. and Tseng, F.H. (2015). An updated review on cancer risk associated with incretin mimetics and enhancers. Journal of Environmental Science and Health, Part C, 33(1), pp.67-124.
Weiss, M., Cosart, L., Hanssen, J. and Yao, J. (2016). Precision time transfer using IEEE 1588 over OTN through a commercial optical telecommunications network. In Precision Clock Synchronization for Measurement, Control, and Communication (ISPCS), 2016 IEEE International Symposium on (pp. 1-5). IEEE.
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