Retail Management

Prepared byKuldeep Chaurasia(10)

Praveen Harjal(20)Vipin Singh(79)

Introduction Retailing include all the activity involved in selling

goods or services directly to the final consumer for personal or non business use .

(By philip kotler)

The origin of the word retail is considered to be from the French word ‘retaillier’ which means to "cutting off, clip and divide" in terms of tailoring. To use the concept, retailing directly converts into the meaning that it is breaking of products in larger consignments into smaller packages for general consumption.

INDIAN RETAIL SECTOR The Indian retail industry is the fifth

largest in the world

Comprising of organized and unorganized sectors, India retail industry is one of the fastest growing industries in India, especially over the last few years

$ 320 billion now -- $700 billion by 2013

14% to India’s national GDP

Major Retailer in India Pantaloon

Tata Group

RPG Group

Reliance

Retail formats in India Mom-and-pop stores

Departmental stores

Convenience stores

Conti……… Shopping malls

E-trailers.

Discount stores

Specialty stores

MIS(Management Information System)

MIS(Management Information System) MIS refers broadly to a computer-based system

that provides managers with the tools for organizing, evaluating and efficiently running their departments. In order to provide past, present and prediction information, an MIS can include software that helps in decision making, data resources such as databases, the hardware resources of a system, decision support systems, people management and project management applications, and any computerized processes that enable the department to run efficiently.

Conti……… Inventory statistics are compiled and maintained by the system. The

statistics are used by the system in order to advise on ordering (what to order), stocking (what to stock), and notification of slow- moving or dead stock. Some of the statistics that are kept on each item are:

• Performance/ABC Code• Sales History (units, sales, profit %)• Product Rankings by Sales, Profit,• Units, and Cost• Stock Out Occurrences over last 24 months• Last Stock Out Date• Last Stock Days (number of days)• Highest in-stock amount and date• Highest one-time sale amount and date (single customer dependency)• Average unit sale per month

Function of MIS in Retail Marketing Supporting the basic functions of procurement,

storage and delivery, a retail management information system allows a manager to manage customers, inventory, suppliers and product sales. The system allows you to track purchase orders and update inventory records dynamically. You can analyze cash, check and credit card transactions to reconcile information. Improve efficiency by examining overage and shortages to reveal trends that can be rectified.

Features of MIS in Retail Marketing

Speed of Operation

Customer Support

Ease to Use

Functionality

Achievement of business goals

Latest Retail Technology VoiteQ solution continues to aid organic growth

August 24, 2011 London based organic food store, Planet Organic, has implemented VPoS, an Electronic Point of Sale (EPoS) system from VoiteQ at their new Devonshire Square store

The Specials Laboratory selects Episys Ultimate for its over labelling serviceAugust 24, 2011 The Specials Laboratory recently selected the Ultimate Platinum system from Episys to fulfil its increasing over labelling needs with a proven, secure labelling system.

Conti……… Y-cam provides the perfect toppi

ng of security for Domino's Pizza

August 24, 2011 Y-cam Solutions have helped Domino's Pizza protect their 600 company and franchised stores across the UK and Ireland with over 200 IP cameras.

Supermarket A supermarket, a form of

grocery store, is a self-service store offering a wide variety of food and household merchandise, organized into departments. It is larger in size and has a wider selection than a traditional grocery store, also selling items typically found in a convenience store, but is smaller and more limited in the range of merchandise than a hypermarket or big-box store.

For example, you may find magazines placed prominently in a shelf as you walk in, by the side of a popular brand of perfumes and another shelf of chewing gums.

Departmental store A departmental store is one

where the products are sorted and organized for shelf display. It is easy to find a product in such stores, as the products are organized in broad categories and sub-categories.

Department stores usually sell products including apparel, furniture, home appliances, electronics, and additionally select other lines of products such as paint, hardware, toiletries, cosmetics, photographic equipment, jewellery, toys, and sporting goods

Chain stores Chain stores are retail outlets that share a

brand and central management, and usually have standardized business methods and practices. These characteristics also apply to chain restaurants and some service-oriented chain businesses. In retail, dining and many service categories, chain businesses have come to dominate the market in many parts of the world. A franchise retail establishment is one form of chain store.

For example the world's largest retail chain, Wal-Mart, became the world's largest corporation based on gross sales.