Tech Industry Investigate

Beyond Point of Sale Data: Looking Forward, Not Backwards For Demand Forecasting

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Executive Summary

One reason for the importance of this technology would be that the POS represents the most critical function in a retailer's supply chain - the checkout process. The cash register is the moment of truth at which the consumer has to commit to a purchase and offer tender in exchange for the goods. The POS acts effectively as the collections system for a retailer. Consequently, it is critical that the POS correctly identify each item in the customer's basket; match the barcode label to appropriate SKU for accurate pricing; and perform authorization of any electronic transactions.

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