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The basic concept of retail has remained the same for many years - provide merchandise and services to consumers at a desired price. What has changed is the scale and complexity of the modern retail business. Customer demand, greater competition, more channels, the challenges of time and scale, faster product lifecycles, the growing importance of supply chains, global trends, and a slowing economy are also driving the need for better performance. In this day and age, speed and knowledge are key to succeeding in the retail marketplace. This requires agility, faster response based on better information, operational efficiency, and supply chain control. Just as important, all parts of the company have to work together to manage corporate strategy and achieve goals and objectives.
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