Emerging Biz and Technologies - Tesco's Current Technology and Challenges Faced

Running head: EMERGING BIZ AND TECHNOLOGIES
Emerging Biz and Technologies
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EMERGING BIZ AND TECHNOLOGIES2
Table of Contents
Introduction:....................................................................................................................................3
Brief overview of Tesco:.................................................................................................................3
Current technology, used by Tesco:................................................................................................4
Challenges faced by Tesco in the way of running their internal functionality:...............................5
Solutions to mitigate the challenges:...............................................................................................7
The methods to be followed by Tesco in order to mitigate the challenges:....................................7
The contemporary technology trend for enhanced competitive advantage and improved decision-
making:............................................................................................................................................9
The strategies Tesco should follow in order to attain competitive advantage:................................9
The changes which Tesco should initiate the proposed strategy:..................................................10
Conclusion:....................................................................................................................................11
References:....................................................................................................................................12
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Introduction:
Prompt development of technology is acting as a driving force behind the firms to
promote speed in the business process and thus attains long term success. As discussed by Zhang
et al., (2019) the inclusion of high end technology is playing a major role in the way of ensuring
smooth flow of all the relevant resources, which is the key of running the internal operation of a
firm with utmost efficiency. In addition, Rittinghouse & Ransome (2017) showed that with the
assistance of proper technology, the senior manager can also ensure smooth flow of
communication throughout the organization. Present paper will put forth the discussion of the
latest technology used by the retail giant Tesco. In addition, the paper will also shade light the
emerging technologies, which Tesco can use in terms of attaining competitive advantage.
Brief overview of Tesco:
Tesco is the third largest British multinational general merchandise grocer retailer with a
strong presence across the world. Being the leading retailer, Tesco is currently operating more
than 6000 stores and serving millions of customers across the globe. Both physical and online
stores are operated by Tesco (Tesco PLC. 2019). Creativity and innovation are two of the major
factors, which are playing a critical role for Tesco to attain immense success from business. In
terms of gross revenue, Tesco is considered as the ninth-largest retailer in the world. The
company is running their business in more than five countries in both Asia and Europe.
In addition, Tesco is also being considered as the largest retailer of Thailand, UK, Ireland
and Hungary. Tesco is one of the largest down-market high-volume low-cost retailers to attract
wide range of customers from different social background. It is imperative to note in this context
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that Tesco is operating their business in multiple store formats like Supermarket, hypermarket,
convenience shop and superstore. This is the reason for which Tesco is becoming able to
strengthen their business in the highly volatile global retail environment. During the last half of
2018, the statutory profit acquired by Tesco was £1,674m (Tesco PLC.2019).
Current technology, used by Tesco:
Being the market leader of the global retail industry, high-end technology is being used
by Tesco for the sake of promoting speed in their internal functionality. Larose (2015) highlight
the fact that the fundamental aim of Tesco behind using effective technology is to keep the
customers happy and satisfied by offering them with high quality of product along with shopping
experience. Execution of high-end technology is paving the way for Tesco to improve both the
online and offline shopping experience of the customers. RFID-enabled barcode is one of the
emerging strategies, being used by Tesco. The fundamental aim of the company behind using
this technology is to make the process of the stock counting easier and thereby improve the lives
of the employees. According to the perception of Russell & Norvig (2016) this technology is
allowing Tesco to automate the product counting process and remove the total number of
products automatically in accordance with the entering and leaving the store by the customers
before and after purchase. This information helps the suppliers to track the products and enable
them to act accordingly in order to enable the customers to have high quality of in-store shopping
experience.
The degree of satisfaction among the customers plays a major role in attaining long term
success for business. Wada (2018) stressed on the fact that this is the reason, for which Tesco has
implemented “If This Then Than” (IFTTT) technology with the intention of improving both
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