Retail Resources

 

Phrases Used in the Retail Industry

The retail industry also involves a number of other activities, from marketing and advertising to customer service. To help you understand these activities, we've included definitions for the most commonly used terms related to retailing, such as customer segmentation and market research. We've also included definitions for the various types of retail outlets, from traditional stores to online stores. Finally, we've included definitions and retail webinars for the different strategies businesses use to increase their sales, from loyalty programs to special events. With this Retail Glossary, you'll be able to understand the terminology used in the retail industry and make informed decisions about your business.

What is OMS implementation?

Order Management System (OMS) is a computer software system used to administer all aspects of an omnichannel business for order entry and processing like and not limited to customer service (CRM), marketing, accounting, inventory management, purchasing, and warehouse management.

OMS implementation is the process of introducing an Order Management System (OMS) into an organization’s sales and operations environment. This process typically involves the use of software and hardware systems to manage orders, track inventory levels, coordinate customer service and other processes related to the fulfillment of orders. An OMS implementation can be critical for organizations looking to enhance efficiencies, improve customer service and create a better end-to-end experience for customers.

What is POS implementation?

Point of Sale System (POS) is a system that facilitates and tracks the exchange of a product for payment through specific software. Solutions typically include a credit card reader and receipt printer.

POS implementation is a critical part of running a successful retail business. A POS system is a combination of hardware and software that allows a business to track customer purchases, manage inventory, generate reports and more. Implementing a POS system can be a complex process, but it can provide your business with the data and tools needed to maximize efficiency and profits.