Page 179 - DMGT553_RETAIL_STORE_MANAGEMENT

Retail Store Management Anand Thakur, Lovely Professional University

Notes Unit 10: Cash Management

CONTENTS
Objectives
Introduction

10.1 Budgeting
10.1.1 Challenges of Budgeting for Capital Expenses
10.1.2 Challenges Presented by Current Practices for Capital Expenditure
Budgeting
10.2 Day to Day Cash Management
10.2.1 Cash Registers vs. Point of Sale (POS) Systems

10.2.2 Parts of a POS System
10.3 Use of Information Technology in Cash Management and Billing
10.4 E-Tailing
10.4.1 Advantages of E-tailing/Multi-channel Retailing
10.4.2 Disadvantages of E-tailing/Multi-channel Retailing

10.4.3 Barriers to Growth in E-tailing
10.5 Summary
10.6 Keywords

10.7 Review Questions
10.8 Further Readings

Objectives

After studying this unit, you should be able to:
Define cash management

Discuss evolution of cash management
Describe budgeting
Explain day to day cash management

Elaborate on E-Tailing
Introduction

Having a smart safe—and training employees to use it effectively—relieves a lot of the traditional
headaches associated with handling cash. “It just takes a lot of the old issues out of the equation
with regard to dropping money in safes, and shift managers having access to the safe. Before this
technology was available, if a robber came in he could literally hold a gun to a manager’s head
and threaten his life if he didn’t open the safe. With this type of safe even robbers know that they
can’t do that anymore.”

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