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Automation of Checkout Process in a Retail Store

Student: Garkavyy Maxim

Supervisor: Dmitry Sergeevich Protsenko

Faculty: Graduate School of Business

Educational Programme: Business Informatics (Bachelor)

Year of Graduation: 2019

Retailers all over the world are witnessing a decline in profits due to a shift in consumer preferences to buying online and a decrease in interest in material goods. As a result, in the US alone in 2019, more than 6,000 establishments were closed. Additional pressure on retail establishments is exerted by such factors as an increase in the minimum wage and price competition from large retail chains. The solution to this problem can be to reduce the cost of doing business. This task, which is always relevant for any company, can now be solved with the help of automation technologies. The rapid development of technology in the last decade today allows to fully automate the work of the cashier. Thus, the retail industry, especially the sale of food products, will be transformed in the near future by automated checkout solutions. Among the many solutions to automate the process of checkout, existing in the market, businesses will need to make a choice about which one to use. The purpose of this work is to identify the optimal automation system, the implementation of which will provide the greatest profit for the store. The goal of this paper is to make a review of all existing technologies and perform an analysis of their advantages and disadvantages. Investment performance indicators are also calculated for these technologies, such as NPV, IRR, MIRR, PP, DPP, PI, ARR and market size. Based on this, the conclusion is made about which technology is optimal and how it will change the profit of stores of various sizes, and recommendations are given on its implementation. Additionally, problems that may arise during implementation are discussed and ways to solve them are given.

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