Point of Sale Business Proposal

...

Moreover, our business culture will change to a customer first approach. This is already the case, however, we will be fulfilling the promise through the inventory management system. The upgraded inventory management system will allow us to be in line with what customers are wanting in the market and we will be able to order items based on demand and supply. In addition, Bright Horizons can monitor products that are of a higher risk more efficiently too. The increased data will result in increased information which will open up opportunities not presently foreseeable for new products allowing us to expand our business further. Currently, the potential for the introduction of new products is hampered by our lack of information on such products. This will change with new inventory system that gives us the ability to track individual items.

Finally, our current inventory system presents a short term view of our inventory. The implementation of the new inventory program will allow us to have a more accurate picture of the future. This will increase strategic planning of how to earn increased profits by providing the right products during the correct market conditions. Overall, our customers will be more satisfied with their experience which will continue to retain long term relationships with customers. The implementation of the inventory management system will allow us to increase our customer base and present opportunities for growth long term.

The Goals of the New System

Our new inventory system will help us serve our customers better; the increased business intelligence will allow us to find trends in our inventory, and this will result in increased customer satisfaction through available inventory. Management will have an easier time preparing inventories due to the assistance of the point of sale system (POS) and workers will find that they will be able to spend more time focusing on the customer instead of accounting for inventory shortages or miscalculations.

The design will create automation in our system which will help our company save time. The process of tracking goods sold will be simpler and less complicated due to the assistance of the management information system. The use of bar code scanners which reads information off of vertical bars will make the process of scanning inventory into the system seamless (Haag 335). The amount of time to take inventory will be reduced opening our company up to additional goals such as improving customer service or searching for products that would fit well into our market niche.

The system will allow the company to reduce errors in our inventory management system and the increased easiness of scanning items into the system; allowing for an accurate accounting of inventory. This will present management with the opportunity to present goals of increased inventory efficiency after the system is in use. Bright Horizons will know what products are available ensuring they have the ability to submit recommendations to customers. This will allow the company to increase sales goals along with improved customer retention.

Another goal of the system is to create a database of inventory. This database will be beneficial in categorizing sales and products allowing us to set goals for products based on past sales in a way that is much more accurate than previously possible. This use of information will prove beneficial in finding out if new products can be implemented into the store.

As we use the data to create a business intelligence system our goal is to help our company understand the various markets that we serve, so we can easily introduce new products or services by database knowledge. The potential for future sales creates a long term goal for sales and changes the company’s mindset from today to years into the future. Point of Sale is a more efficient way of managing Bright Horizons product’s because it presents a long term view.

Building a solid relationship with our customers is important which leads us to another goal improving our customer relationship. The new POS system will allow our company to find ways to serve customers that may not have been possible previously due to the lack of knowledge. The increased knowledge of our customers will improve our customer service and help our company continue to provide personal customer service.

Furthermore, this will align our technology with the goals of the customer. The system will work for the customer instead of against, which again will result in increased retention as our company continues to grow. Eventually, Bright Horizons would be able to implement additional technologies such as mobile applications which would allow the customer to order products and refill prescriptions from a mobile device or tablet. This would allow for more information technology planning to further improve the customer service experience.

A point of sale system would help us gain a competitive advantage in the market. Our company already has a reliable customer base that expects personable hometown service and this will help us maintain that personable service as our company continues to grow. It will also let us remain prepared for the emerging market in the health industry and remain proactive as a company verse the current reactive strategy our company currently implements. The information could eventually easily be used in a decision support system for management and help them make inventory decisions or tough product decisions. Report generators can be used to grab reports quickly in specified defined formats that contain up to date information regarding inventory (Haag 75).

As one can see the benefits of the POS system in regards to Bright Horizons inventory will greatly improve our value to the customer. The increased information will allow us to react quickly to inventory changes creating profitability due to the increased business intelligence, resulting in the future ability to adapt to the pharmaceutical market.

Alternatives Considered and Solution Selected

One alternative considered was to leave the inventory as it currently stands. This inventory provides the business with the required accounting data needed to conduct business. However, the system fails to account for items in the inventory currently based upon assessment creating a situation where inventories are not necessarily accurate. Bright Horizon’s system does not allow for spotting inventory that may not be selling as efficiently and this can only be done through visually viewing the inventory. The current system would have been adequate prior to expansion but once the expansion occurred it caused issues with overall inventory. This