Which invention forced retailers to completely overhaul their inventory management systems in the 1970s due to its ability to encode product information?

Throughout history, many inventions and discoveries have dramatically transformed retail landscapes in ways their creators never anticipated. Product innovations often lead to unexpected shifts in consumer behavior and retail management strategies. This trivia question explores how one groundbreaking invention prompted retailers to completely rethink their inventory management approaches across the globe.

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Universal Product Code (UPC) barcode
Electronic price tag
Point-of-sale terminal
Anti-theft magnetic strip