Point of Sale (POS) Systems Features and Functions
A point of sale (POS) system helps retailers automate transactions. POS solutions are used in retail stores where sales associates must enter sales, refunds, layaways, transfers, etc. TEC's model of POS systems facilitates the selection process with research on vendors that support inventory management, register management, price management, transaction management, and other capabilities.
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Transaction Management
Transaction management encompasses a group of applications for maintaining records on transactions done on a point of sale system.
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Register Management
Register management encompasses a group of applications used to maintain records on the register's cash flow.
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Sale Slip Management
Sales slip management encompasses a group of applications for maintaining receipt or ticket printings.
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Price Management
Price management encompasses a group of applications for maintaining records item's prices. Price management includes functionalities, such as creation of markdowns, markups, promotions, discounts, etc.
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Inventory Management
Inventory management tracks the ins and outs of a product down to the color and size level, using capabilities such as purchase order process, receipt process, allocation process, distribution process, transfer process, style consolidation process, physical count process, and inventory freeze process
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Reports and Inquiries
Reports and inquiries encompasses a group of reports or inquiries that are available throughout the point of sale (POS) system.
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Business Architecture
Business architecture encompasses a group of general information that can be stored in the point of sale (POS) system.
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Product Technology
This group of criteria defines the technical architecture of the product as well as the technological environment in which the product can run successfully. Criteria include product and application architecture, software usability and administration, platform and database support, application standards support, communications and protocol support and integration capabilities. Relative to the other evaluation criteria, best practice selections place a lower relative importance on the product technology criterion. This apparently lower importance is deceptive because the product technology usually houses the majority of the selecting organization's mandatory criteria, which generally include server, client, protocol and database support, application scalability, and other architectural capabilities. The definition of mandatory criteria within this set often allows the client to quickly narrow the long list of potential vendors to a short list of applicable solutions that pass muster relative to the most basic mandatory selection criteria.
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Supply Chain Management (SCM) Features and Functions
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