Page 128 - DMGT553_RETAIL_STORE_MANAGEMENT

Unit 7: Store Audit

Inventory: Inventory is the total amount of goods or materials in a retail store. Notes
Management of the inventory: The management of the inventory in the supply chain involves
managing the physical quantities as well as the costing of the goods as it flows through the
supply chain.

Presentation: Presentation includes displays that are organized and created to efficiently meet
your customers’ needs will assure continuing business from your existing customers and will
entice prospective customer’s to purchase from you.
Retail audit: Retail audit is a tool that opens up new option for strategic move in the market.
It helps every marketer to find an optimum brand product portfolio for target segment with
finest communication vehicle and the flexible interiors for high product accessibility.
Retail-audit service providers: Retail-audit service providers are individuals who gather
information on a brand’s sales volume, sales trends, stock levels, effectiveness of in-store display
and promotion efforts, and other associated aspects.
Stakeholder Audits: Stakeholder audits are a proven process for monitoring corporate reputation
among the stakeholders who matter.
7.9 Review Questions

1. Define the term store audit.
2. Why store audit is needed?
3. What is internal store audit?

4. What is external store audit?
5. Who are retail audit service providers?
6. What is brand portfolio meant for?
7. What is meant by store infrastructure?

8. What are presentation displays?
9. What is meant by term inventory?
10. What is management of inventory?

Answers: Self Assessment

1. Retail audit 2. Providers
3. Strategic 4. True

5. True 6. True
7. Presentation 8. Locate
9. Signage 10. False

11. True 12. Shoulders, Knees
13. merchandise 14. True
15. False

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