The possible ICT strategies to improve competitiveness in the wholesale and retail businesses.
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There are several possible ICT strategies to improve competitiveness in the wholesale and retail business. Specifically, ICT strategies imply the use of technology that will store, retrieve, manipulate, transmit and receive information electronically or in a digital form. The strategy covers hardware, software, network infrastructure, video conferencing, telephone, and mobile phones.
First, we consider ICT strategies in the wholesale business to improve competitiveness. One of the key factors that contribute to the competitiveness of a wholesale firm is inventory management and order management (a). ICT strategies can help make better decisions relating to receiving goods, order entry, production, and inventory control.
ICT strategies will enable creating accurate work orders for the manufacturing factory and track their status. Further, the ICT system will create sales orders with multiple ship-to addresses, ship multiple sales orders on one shipping document and generate invoices with click of a mouse (b). Further, ICT can help manage inventory and inventory of components by location, serial number, and vendor order. The ICT strategies will require hand held tablets for all supervisors and computers with printers for those responsible for data entry and document preparation. In the wholesale business competitiveness can be increased through faster buying/selling, accurate ...
This solution explains competitiveness in the wholesale and retail business using ICT strategies. The sources used are also included in the solution.