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Development of an innovative point of sale system for retail management

Development of an innovative point of sale system for retail management

The requirements of retailers have evolved in the last few years and so have the point of sale (POS) systems that meet these requirements. These systems, however, are expensive and complicated to use; at the end of the day, only a large retailer with an IT (Information Technology) department in support can implement them in their outlet(s). The objectives of the proposed project are: 1) To create a flexible system that adjusts to the specifics of the business of any retailer at a fraction of the cost of today's systems. 2) To provide retailers with a technologically sound Retail Management System (RMS). 3) To provide the adaptability that is missing from contemporary systems that will allow inter-connectivity and allow for future heterogeneity of retail outlets. All these contribute to Thematic Area 4 of the EUREKA programme: 'Information Technology'. At the same time the proposed system addresses a number of European Community economic and social objectives: 1) The ability of small retail units to apply a technologically sound RMS will enable them to improve competitiveness across the European Market and as such impact directly on the economic development of Europe, thus contributing directly to the achievement of the Lisbon objective. 2) Widespread application of the system will provide the potential to aid the networking of similar retailers across the wider European Region, improving their intercommunication, supporting their technological structure and developing their customer culture, thus providing for the improvement of the employment situation throughout Europe. Towards the overall goal of the creation of the proposed system it is first necessary to develop the operating system and the application software for the POS system that will meet the set of requirements set out by the partners according to the needs of European retailers. At the same time, work will begin on the development and adaptation of the electronic boards, mostly in open source, to enable the creation of all the services of the system. A prototype of the system will then be developed and tested for efficiency, user-friendliness and overall performance by actual end-users on a pilot-scale. The project will also include modules for exploitation and dissemination that will begin towards the end of the project once the system prototype is ready. The plan is to formulate a concrete business plan for exploiting the system as well as trying to predict the future developments in relevant technology and client requirements, in order to extend the lifespan of the product as much as possible. Project Management will run throughout the project lifetime. Keywords: POS (Point of Sale) systems, retail management.
Acronym: 
POSMA
Project ID: 
3 612
Start date: 
01-01-2006
Project Duration: 
24months
Project costs: 
160 000.00€
Technological Area: 
Data Processing / Data Interchange, Middleware
Market Area: 
Retailing

Raising the productivity and competitiveness of European businesses through technology. Boosting national economies on the international market, and strengthening the basis for sustainable prosperity and employment.