Anticipates the information needs of retail managers; collects, organizes, and stores relevant data on a continuous basis; and directs the flow of information to the proper retail decision makers.
Involves the actual counting of merchandise, but may do so using a Warehouse Management System (WMS). A retailer using the cost method of inventory valuation and relying on a physical inventory system can derive gross profit only as often as it conducts a full physical inventory.
Keeps real-time records of the number of units handled by a retailer adjusting for sales, returns, transfers to other departments or stores, receipt of supplier shipments, and related transactions. Usually executed with point-of-sale and order, inventory & warehouse management systems.
A metric of overall system operational performance. A solid OEE formula is: Multiply the three OEE factors: Availability (Run time / Planned time), Performance ([Total Count / Run Time] / Ideal Run Rate), and Quality (‘Good’ Count / Total Count). A high OEE is good.
The electronic exchange of business information using standardized formats. Companies conducting business electronically are typically called trading partners. EDI allows retailers and suppliers to regularly exchange information on inventory levels, delivery times, unit sales, and so on,
A BIM system is an extensive set of drawings, control systems, etc. that in total provide information about a building including the systems & equipment therein as well as mechanicals, architectural drawings, HVAC, MHE, bills of materials, control systems, dashboard status, etc.