Technology: advancing retail buyer performance in the twenty‐first century

Abstract

Purpose -The purpose of this paper is to explain how buyers can more effectively and efficiently utilize technologies to improve their performance and to inform top executives in retail firms how these technologies can be used to improve the overall performance of the retail store. Design/methodology/approach -Using a descriptive approach, the paper identifies current technologies that are being used and shows how technology can be used by retail buyers. Findings -Technologies developed over the past 20 years have changed the way buyers execute their responsibilities with advancements in various technologies; faster transmission of data results in the ability of buyers to immediately react to inventory and pricing issues. However, given that technology investments can exceed millions of dollars, and that many retailers' margins and inventory productivity have been eroding over the last ten years, the stakes for information technology decisions have grown exponentially, so care must be taken in making these decisions. Practical implications -This subject matter is most important for retail practitioners because it identifies areas where the performance of buyers can be improved. It is also valuable to college professors who teach retailing and buying and to their students because it provides current subject matter that should be incorporated into classes. Originality/value -This paper identified the most current technologies being used by buyers in a variety of stores to improve their performance. In addition, this paper identified the future trends in technology adopted by innovative retailers.

An investigation into retail buying roles and responsibilities for own-label clothing: a multiple case-study

“…Additionally, such theories do not take account of the potential complexity of the processes, the differences in various market sectors or product types and the job roles within the teams of individual buyers involved in the implementation of retail buying. Also, these models do not reflect contemporary changes in buying practice, which has been significantly influenced by developments in computer technology and globalisation (Fiorito, Gable, & Conseur, 2010;Johansson, 2001) since the publication of these theories. Finally, these models focus specifically on purchase decision-making, which is clearly a crucial responsibility for buyers, yet forms a minor proportion of the role (Swindley, 1992).…”

“…Chang & Sternquist, 1994;Chung, Sternquist, & Chen, 2006;Fiorito et al, 2010;Fiorito & Fairhurst, 1993;Hutt, 1979). Research into retail buying of own-label products is particularly limited and frequently focuses on purchasing of food products (e.g.…”

To what extent luxury retailing can be smart?

“…In particular, this usage impacts both the organizational process and selling activities, in terms of development of ad hoc capabilities, changes in knowledge management, and creation of smart partnerships; and consumers' access to product/service, relationships with retailers/sellers, products/service consumption. From a retailer prospective, these technologies support new methods and techniques to collect and manage data on market trends useful in adapting retailing strategy accordingly (Bennett and Savani, 2011;Fiorito et al, 2010;. Indeed, these technologies provide information in real time on consumer behaviour (i.e.…”

A new approach to retailing for successful competition in the new smart scenario

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