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HC1041 IT For Business
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HC1041 IT For Business
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Course Code: HC1041
University: Holmes Institute
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: Australia
Question:
Read the case study and answer the following questions:
1) What are the advantages and disadvantages of the new POS system?
2) How will this POS system help the business gain competitive advantages?
3) What are the advantages of having a centralised database?
4) How could this POS system facilitate decision making? Address the following points: • Why do point-of-sale systems process business activities more effectively? • Can the information be tracked manually in an effective manner? Why or why not? • What types of questions could be answered effectively? • How could the information be used to better manage the business?
5) Recommend telecommunication options for this POS system Address the following points: • Types of networks – LAN, WAN or MAN? • Types of media? –Wired or wireless technologies? Which types of cables should be used for wired technologies? Which types of wireless technologies?
6) What type of risks does the POS system bring and how to protect the business against the risks?Address the following points: • Security • Privacy
• Confidentiality
Your report will be assessed on the quality of your research and quality of report. Discussion must be relevant to the case study business. Your report is to be in the style of a business report.
Case study — Blooming with Technology
The use of information technology is needed by every industry size and type of business. Small businesses can realize the positive effects through adopting technology. However, small businesses often do not have the resources and expertise of large corporations to implement information technology strategies. However, the benefits of technology for small and medium-sized enterprises (SMEs) are just as crucial to business operations and strategy.
Consider Four Seasons Greenhouse and Nursery, located in Colorado. This small nursery was like many other small businesses and garden centers. They used manual registers to track and maintain its inventory as well as determine which products were realizing the most profit. The profits from the nursery were either “negligible” or a loss. They did not have access to useful operational data to effectively manage their business. For example, they did not track or review the margins of individual products. However, they believed that they needed to do something different for their $1M business operation.
Enter a new point-of-sale system (POS) in 2008. The system allowed the owners to track useful business data from the sales transactions immediately at the time of the sale; eliminating the need for tracking sales manually. The system processes and stores data from the sale while updating the inventory as well as compiling a sales history. This eliminates reliance on manual entry of sales transactions and reduction of inventory units for the items sold. POS systems provide much more than a cash register. These systems provide more robust functionality in inputting, tracking, and distributing data to provide useful information to operate and manage the business.Accurate inventory data maintained by the POS helped with decision making. Decisions on how many units of a product to order were no longer based on speculation about current inventory units. Now, accurate inventory counts eliminate the guesswork on how much to order, helping the business to operate on leaner inventory units. The system’s reporting can provide the detail transactions for an inventory item, such as how many were purchased, discarded, and sold.
The implementation of a POS system also confirmed that the owners did not know as much about their business as they thought they did. As they reviewed reports from the new system, they saw that some products were less profitable than they thought. The more detailed cost reporting by item helped them to understand which products contributed the most profit to the operation. Their new perspective of the “real costs” provided the opportunity to shift production to the higher-profit items, thereby gaining more profit. Prior to implementing the POS system, they simply did not have the time to approach this level of decision making.
Knowledge of their detailed product costs helps them to price products more profitably. Price changes can be implemented temporarily (for a promotion) or permanently and still remain within acceptable product margins. The accurate and timely reporting of this information assists them to be more effective managers of their business operations.
The ability of the system to process sales, inventory, and purchasing transactions immediately reduces the need for data entry of paper information. The time savings can be used for managing the business rather than mundane clerical functions.
The new system has expanded Four Seasons’ management control over employee schedules to review and allocate labour expenses to specific departments and functions. An additional benefit allows the owners to delegate more responsibility to the staff and establish accountability. Instead of the owners establishing goals, they provide the system’s data and ask staff to submit their sales goals for the next reporting period. Ultimately, the information technology system creates a solid infrastructure to process and report the businesses operations for the entire enterprise.
The garden centre is an excellent example of how technology can realize benefits for a business. The ability for organizations to remain competitive and agile is crucial. These systems allow organizations large and small to leverage business data to gain a competitive advantage and operational efficiency.
Answer:
Introduction
After employment of the point of sale system in the organization, many advantages will be enhanced out of same. POS is the period and place where a sales transaction is completed, and there are no unconfirmed aspects from either of the gatherings involved in the business. At this point, the small nursery in the case calculates the amount owed by the customer and later prepares an invoice and offer various options for different payment. A POS system currently is gaining a lot of acceptance in small and large businesses as eradicates price tags needs and even if there is a price variation it accomplishment through the inventory window. According to Abraham (2018) also it assists in the implementation of different discounts sorts and loyalty programs that tends attraction to the clients in the market zone to purchase the merchandise or services offered.
Point-of-Sale System
Advantages
The small nursery in the case study will enhance the benefits of having effective inventory Control. The point of sale system when efficiently integrated into the inventory control for the establishment will offer proper control of all the resources available and the operations associated in the business (Edwards et al., 2016). Once that incorporation is in place, the system spontaneously tends to generate a purchase order and reorder operation kinds of stuff when they start to diminish. POS is advantageous in the sense that will bridge the gaps brought up by lack of inventory. POS also reduces the work amount and costs related to running the business that in turn boost incomes and raises the profit margins.
A study by Chaimae and Rahal (2015) Sates that POS enhances prioritizing of the products to be initiated in the market. A business can have a wide variety of products that are in the product, but not all of them sell according to the organization’s requirement. When a product/ service is initiated in the market for purchasing there is a profit margin set by the organization and not all products meet the margin set. With POS the selection of products tends enhancement regarding products/services with high profits when sold. Products failing to meet the threshold of profit set are eradicated from the business, and others are minimized reason that they product stagnant profit or even losses to the company which may lead to failure of the company.
Disadvantages
However, the system (POS) portrays some problems even if they do not affect business much. The system is costly in proper employment, and that means raising the operations costs which can reduce the amount of profited realized. POS is a complicated structure that needs high skilled staffs who are paid high salaries at the end of the operation. Improving the current skills of the crews in the business means high operating costs to the end products. The small nursery in the case study lacks appropriate skills to operate the new system efficiently in operation and thus means recruitment of staffs will be enhanced from outside the business (Wheelen et al., 2017). POS structure portrays security risks, and this aspect tends much deliberation by the management as to adequately secure the business appropriately. Cybersecurity issues which are typical of enhancement by hackers and other authorized persons in the business play a major role in failing one’s business.
POS competitive advantage
Accurately reporting of information enhances effective management of the business where it provides real information regarding customers need in the market. When an organization is capable of meeting client’s requirement improves an upper hand of winning their loyalty which is brought by satisfaction enhanced from the products/services (Robson 2015). Satisfaction of customers in the market will install a competitive advantage to the organization reason that customers will acquire the products since they are meeting their needs appropriately. The point-of-sale system provides a mechanism that enhances speedy transactions for busy customers in the market.
In the current market with improved technology, no customer has the time to delay in long queues waiting to purchase a particular product or services. Dependable POS software will reduce the time customers devote at the register and will eradicate human error by staffs. Merchants are now capable of organizing menu items on the webpage based on group and can make colored-coated “link keys.” With POS retailers tend to have large amounts of catalog no longer have to disquiet about slow dealings or inventory blunders. Many POS software suppliers in the market currently offer integrated barcode perusing that increases speed and efficacy (Falzone et al., 2016).
POS database
Storing data in a centralized database is an important aspect since it will bring enhanced preservation of data. Consolidated database storage advances data preservation. Personal computers and laptops hardly offer fault lenience and the capacity to endure functioning after hardware botch. Fault forbearance requires duplicate works, which increases costs. The deficiency of fault tolerance primes any data stored in the organization system at risk for permanent loss. Centralized storage often embraces a fault-tolerant system and redundant storage that conserves the data, even in the occasion of a catastrophic hardware let-down in a hard drive. Also, the system capable of providing centralized data stored delivers improved Physical Security where locally stored data characterizes an ongoing physical safety risk. Laptops and other computer devices in the order may get lost or filched (Dorsey et al., 2017). An unattended computer presents a prospect for someone to access, take or damage stored data. Centralized catalog storage and appropriate server room security confine direct physical admittance to a single position and a trivial group.
POS and decision making
Not only in the case but generally the POS system assists much in decision making in all organization that applies the strategy. Business activities tend proper management with the help of the system reason that guesswork aspect is eliminated in the organization. That aspect of guesswork elimination assists much in sound and effective decision making as the executives will only element right information gathered by the system (MADDEN and TAN, 2018). POS easily fits the beak as a comprehensive system that can aid an organization in accepting and processing payment and even tracking inventory levels in actual time. What the system does most exceptional is gathering critical customer data that can enhance the application by the organization to develop its interests. Information collected by use of the system assist executives in managing the business effectively as they tend to operate with actual information needed by the customers in the market zones. Managing a business is a vital aspect that needs many considerations in any organization as it tends taking data collected from all stakeholders in the environment. Customers are essential stakeholders of every business and in this case their will and say needs much deliberation which in turn helps management in instances of decision making.
Tracking information manually is a hectic activity, but it depends on staffs skills and morale. It is possible to track information manually, but it will not be useful as where compared to automated measures. The manual method of monitoring information may leave some aspects not well considered due to fatigue of staffs in the field.
Information gathered through the POS enhances the effective capability of managing the business since executives can refer the system later in case of some clarification. POS database acts as security to information stored hence enhancing future retrieval (Van Horn et al., 2016).
Telecommunication option in POS
Telecommunication aspect in POS is important due to technology evolution available in the current world. Local area network tends enhancement as the system will require connection of different workstations in the entire establishment. In LAN, there is a computer acting as a file server that is the most precarious of the machines in rapports of security and constancy. LAN enhances effective communication through the network and also portrays secure measures of transmitting information only to the established environment.
Type of media communication that is effective in the application is the wireless mode of communication and data transfer. The wireless method is more appropriate as media transmission cannot be subjected to physical damages. According to Rothaermel (2015) users tends to enhance flexibility since they can move freely with their laptops all over the network without any interference.
Radio-frequency identification (RFID) is the most appropriated wireless technology that will be applied in the company under consideration. The method employs small transponders (tags) embedded in or devoted to specific objects. RFID systems apply transmitters in the radio frequency (RF) quota of the electromagnetic spectrum to exclusively identify resources. RFID expertise is coming into the cumulative industrial application as an alternative barcode scheme (Funk, W.L. and Jackson, 2008).
POS risks
Internet introduction portrays dangers in security to various systems in business. POS system access in every business should ensure that there are important aspects that permit only authorized people in the system. The user of biometric recognition when accessing the system tends enhancement to only approve company staffs (Orr et al., 2015).
Privacy risk also is available in the system and management should employ measures to curb privacy risk. Encryption of data/information in the mode is greatly enhanced since it will control all risks associated with privacy risks.
Conclusion and recommendations
POS structure is a vital aspect and should be employed in all businesses that anticipate grounding themselves on the strong base in the market. Companies using this system tends to gain a competitive advantage over their competitors where they realize high profits in the market (Rothaermel 2015).
References
Abraham, S.M., International Business Machines Corp, 2018. Intelligent point of sale system. U.S. Patent Application 10/068,218.
Chaimae, E. and Rahal, R., 2015. NEW WAY OF PASSIVE RFID DEPLOYMENT FOR SMART GRID. Journal of Theoretical & Applied Information Technology, 82(1).
Dorsey, J., Henderson, W., Grassadonia, B., McKelvey, J.M. and Wen, X., Square Inc, 2017. Point of sale system. U.S. Patent Application 15/599,826.
Edwards, T., Skoog, L., Babu, A. and Dorogusker, J., Square Inc, 2016. Point-of-sale system. U.S. Patent 9,257,018.
Falzone, L. and Ciabarra, C., Revel Systems Inc, 2016. Point of sale system. U.S. Patent Application 15/043,163.
Funk, W.L. and Jackson, W.C., Electronic Data Systems LLC, 2008. Automated system and method for point-of-sale (POS) check processing. U.S. Patent 5,801,366.
MADDEN, C.A. and TAN, G.P., VeriFone Inc, 2018. Point of sale system. U.S. Patent Application 15/924,636.
Mahalingam, M., Dutt, D., Duda, K., Agarwal, P., Kreeger, L., Sridhar, T., Bursell, M. and Wright, C., 2014. Virtual extensible local area network (VXLAN): A framework for overlaying virtualized layer 2 networks over layer 3 networks (No. RFC 7348).
Orr, R.N., Lemley, D., Hotchkies, C.J. and Dehoux, J.L., Atx Innovation Inc, 2015. System and method for interfacing a client device with a point of sale system. U.S. Patent 9,195,982.
Robson, W., 2015. Strategic management and information systems. Pearson Higher Ed.
Rothaermel, F.T., 2015. Strategic management. McGraw-Hill Education.
Van Horn, E., Kearney, S.P., Giordano, P.A., Good, T., Dickinson, C., Au, K.M., Wilz Sr, D., Furlong, J.A., Hejl, B., Walczyk, J.A. and Coyle, L., 2016. Multifunction point of sale system. U.S. Patent 9,412,242.
Wheelen, T.L., Hunger, J.D., Hoffman, A.N. and Bamford, C.E., 2017. Strategic management and business policy. pearson.
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