Retail analytics is the process of providing analytical data on inventory levels, supply chain movement, consumer demand, sales, etc. that are crucial for making marketing, and procurement decisions.

Retail supply chain has to be monitored very closely and has to be free from defects as the products are always on the move and the cycle time is very low.

Multichannel Retailing is the process of using multiple channels for selling similar products across different platforms. The platforms may be online and offline and the various channels may be brick and mortar store, online store, mobile store, mobile app store, etc.

Point of Sale (or POS in its abbreviated form) is the phrase used to refer to the point—or location—where a sales transaction takes place, such as a checkout line or retail counter.

POS systems operate on some form of computer with a large display unit, allowing the retailers to essentially run their entire business on one small device.

Multi-channel means retailers are using various platforms to get in touch with the customers’ needs. Mobile apps, websites, SMS, phone hotlines, and in-store services are the usual communication channels a business taps into.

Merchandisers are responsible for everything that happens to a product from the moment it is delivered to the store to the moment a shopper picks it up off the shelf.