Page 221 - DMGT550_RETAIL_MANAGEMENT

Retail Management

Notes Self Assessment

Fill in the blanks:
10. Effective ........................... systems include all forms of monetary compensation plus a wide
variety of other motivators that are important to people in a work setting.

11. The effectiveness of any reward system requires two ........................... factors.
12. ........................... work smarter and enjoy their work more when they know how their job
fits into the company’s success.

13. Avoid the tendency to be ........................... involved in every decision and every task.
14. Many companies have found success by sharing their ........................... performance with
employees and showing them how they can help improve it.

15. ...........................compensation above and beyond competitive levels may not be motivating
if the recipients really value other things, like time with their family.



Case Study A Retail Store Management System

ur client, an Ireland based IT Company, wanted a software solution that would
enable retail stores to integrate their business processes such as sales, inventory
Omanagement, order processing etc. into a single centralized unit leading to
increased operational efficiency. Based on these requirements, Icreon developed the web
based retail store management system. The software can be installed on an Intranet and
used by retail stores to manage their day-to-day operations. Real-time sales and performance
reports can be generated by the head-office to monitor the performance of all stores.
Business Requirements
Our client required a web based solution that they could market to clients within the retail
industry. Stores were to be provided the facility to create and manage a customer database
including details such as customer information, their order and credit histories etc. The
solution was to provide stores with the ability to manage their inventories send purchase
requests to their distribution centers and manage the stock among their various warehouses.
Provisions to generate reports such as sales reports, customers etc. were required to be
built into the solution. Additionally, the system was to enable stores to create and manage
a database of all their employees. The head-office was to be provided with the facility to
oversee the functioning of all their retail stores thereby enabling them to obtain a holistic
view of their business.
A web based solution to streamline the operations of retail stores.
Benefits
 Provides a means to streamline operations by integrating business processes into a
single unit
 Automates the process of tracking inventory
 Enables easy monitoring of stores by the head office
 Increased efficiency by reducing administration costs and improved performance
Contd....

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