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The possible ICT strategies to increase competitiveness in the wholesale and retail businesses.© BrainMass Inc. brainmass.com October 2, 2020, 5:37 am ad1c9bdddf
ICT Strategies to Increase Competitiveness of Retail and Wholesale Businesses
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Role of ICT in retail and wholesale industry and how it can be utilized for creating competitiveness.
ICT Enabled Revolution in Retail & Wholesale Industry
Retail and wholesale businesses are highly competitive at the local, national and global level. While on one hand there are great opportunities for retailers due to changed landscape, there are also threats. Retailers and wholesalers are realizing that it is no longer necessary to have a physical presence everywhere to increase their national and international presence. As a result they are adopting different strategies to increase their competitiveness and maximize their return. By using information and communication strategies, these businesses can increase competitiveness both internally and externally. With ICT-enabled revolution in distribution and systems, retailers and wholesalers have emerged as the lead firms in buyer-driven supply chains (Wrigley & Lowe, 2010). It has changed the supply chain of the industry from being supply push to demand pull, thus giving more power in the hands of retailers and wholesalers. The industry evolved to adopt processes of lean retailing which integrate logistics and supply chain management methods.
Use of applications and practices that support the electronic exchange of information between companies positively affects likelihood of conducting ICT ...
The document highlights ways in which ICT can be used by retail and wholesale firms to increase competitiveness. Attached in Word.