Research on the influence of information technology investment on production cost management innovation in the retail industry under the 020 model

Document Type : Research Paper

Author

Innovation management Department, Suan Sunandha Rajabhat University, Bangkok, Thailand

10.22075/ijnaa.2021.5793

Abstract

Nowadays, every sector strives to provide its customers an exceptional experience. With an online to
offline retailing structure, higher profits may be made while still providing customers with dependable service. Offline and online techniques are also covered in this framework for improving production management. Online to offline (O2O) models are included here for various retail sales of particular items from the sector since information technology plays a vital role in retail production management. Industries must innovate or die if they want to remain competitive in the future marketplace. Because of this, innovation has become a popular term in the business world. Innovative product cost management technique that incorporates idea development, dissemination, and conversion. To get around this concept, one must use an approach that does not rely on distribution. The model’s usefulness in Realtime is shown via numerical examples. Critical parameters are used in a sensitivity analysis. Graphical ramifications and special situations give further evidence of the current study’s global optimization.

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