Professional Documents
Culture Documents
MANAGEMENT IN
RETAIL
MANAGEMENT
Supply Chain: The sequence of processes involved
in the production and distribution of a commodity
Logistics
It was first rooted in context of business The term logistics has origination in
practices and is rooted in logistics. military.
SCM is cross firm and cross functional. It The term logistics is used in context of an
runs through various organizations and individual organization, flow of goods
can not be confined to a single within and outside it.
organization.
It helps in strategic or competitive It mainly focuses on locational positioning
positioning of organization in the long run of inventory as per order
EVOLUTION OF SCM
The concept of SCM has originations in Logistics. And logistics started by
streamlining organizations internal processes.
During 1970s corporate logistics became popular (Between distribution and
retail stores)
In 1980 term supply chain was coined to add more value by integrating
logistics and other processes.
During 1990s organizations aimed at developing core competence by
focusing on key processes and outsourcing logistics. This continued through
2000s.
During this period SCM got boost from software technologies like Enterprise
Resource Planning, Oracle, internet etc.
Currently SCM has become more collaborative on the basis of real time
information sharing
In Retail, WALMART has developed its own version of Just In Time
(JIT) Inventory System for retail operations, Which needs excellent
supply chain capabilities.
JUST IN TIME
Just-in-time (JIT) inventory management, also know
as lean manufacturing is the process of ordering and
receiving inventory for production and customer sales
only as it is needed and not before.
This means that the company does not hold safety stock and
operates with low inventory levels.
Expansion of business
Benefits to Economy
Excel Formulas
Tickler Control
It requires Software( The instructions that control the way hardware accepts
data input, and then processes, stores and communicates that data ) and
Hardware (Equipment which handles data)
Clustering is the task of discovering groups and structures in the data that are in some
way or another "similar", without using known structures in the data.
Classification is the task of generalizing known structure to apply to new data. For
example, an e-mail program might attempt to classify an e-mail as "legitimate" or as
"spam".
Regression attempts to find a function which models the data with the least error.
Skeptics often claim that businesses should Societys problems have been created by
focus on profits and let the government or corporations such as pollution and
nonprofit organizations deal with social poverty-level wages. It is the ethical
and environmental issues. responsibility of business to correct these
wrongs.
Sectoral Expansion
New Market
Combined Strategy
DRIVING FORCES OF
INTERNATIONALIZATION
DIRECTION OF EXPANSION
Factors determining direction of international retail
expansion:-
Full control of retail marketing mix Use of media communications & advertising
to influence customers
Advantage of habitual, low interest Can develop a whole range with great deal
purchases occurring & therefore brand of variety which provides for a sense of
acceptability is not difficult choice
Sales are more likely to occur Sales can occur through different channels