Topic 6 - Computer Based Shopping Systems Flashcards
EFT
How it works?
(Electronic Funds Transfer)
Computer system that transfers money between customer accounts in a bank.
1. Card swiped, magnetic strip read.
2. Reader connects to bank on WAN, checks customer details.
3. Authorisation code sent back within seconds.
4. If authorised payment is completed
EFT Advantages
⦿Banks gets money instantly
⦿No need to carry cash
EFT Disadvantages
⦿Need bank account
⦿Reliant on network working
EFTPOS Advantages
⦿Automatic Stock control
⦿Can show trends of sales
EFTPOS Disadvantages
⦿Expensive in implement and maintain
Loyalty cards Advantages
⦿Customer entitled discount or given points to save and use .
⦿Information customers give when applying for loyalty card can be used in marketing
Loyalty Card Disadvantages
⦿Loss of privacy for customers
⦿Expensive for expert staff to analyse shopping patterns
Online Shopping Advantages
⦿Larger Audience
⦿Don’t require shop or staff - cut overheads
⦿No need to travel for customers
Online Shopping Disadvantages
⦿Fake websites
⦿Credit Card details intercepted
Barcode
A series of light and dark bars of differing widths with a code number printed underneath. Contains codes for country origin, manufacturer and product (in supermarket)
Barcode Advantages
⦿Eliminates typing errors
⦿Low printing costs
⦿No need to manually price goods
⦿Faster to enter - read from any angle
Barcode Disadvantages
⦿Can only input numbers
⦿Equipment expensive
⦿Corrupted barcodes cause delays
Automatic Stock control systems
⦿When barcode scanned, stock decreases
⦿When level reaches minimum level, extra stock ordered from warehouse
⦿Delivered in next scheduled delivery
Automatic Stock Control Advantages
⦿Less storage space - lower costs - stock wider range of products
⦿Can respond quicker if changes in demand
Automatic Stock Control Disadvantages
⦿Expensive to set up and maintain
