Page 59 - DMGT553_RETAIL_STORE_MANAGEMENT

Retail Store Management

Notes
Questions:
1. Analyze the case and interpret it.

2. What do you infer from it?
3. Write down the case facts.

Sources: http://www.openinganewstore.com/starting-or-buying-a-retail-business/
3.7 Summary

Store operation is about executing the strategies and policies of the retail.
Fashion and home furnishing retailers have always devoted considerable resources to
displaying products in a visually appealing way.
The primary function of retailing is to sell merchandise.
Retailers need to decide on the merchandise to offer by engaging in the sorting process of
assembling a range of goods and services from a variety of suppliers.
Merchandise management focus on planning and controlling of the retailer’s inventories.
There are essentially two ways of presenting merchandise in a store.

Distribution centres are the foundation of a supply network, as they allow a single location
to stock a vast number of products.
A distribution centre management system, or DCMS, is an enterprise oriented application
designed to track the activities performed in a distribution centre.
The right people, processes, technology and tools help achieve the right results.
In today’s environment, speed through the distribution centre is critical.

3.8 Keywords

Automated DCMS: The automated DCMS ensures that the goods are accurately shipped to the
customers and on time.
Break-bulk: Break-bulk (also known as split case) is a lower-capacity version of the bulk
department.
Convenience Stores: Convenience stores, as the name signifies, are stores that provide a high
level of convenience to their customers especially in terms of food and other essential items.
Distribution centres: Distribution centres are the foundation of a supply network, as they allow
a single location to stock a vast number of products.
Distribution centre management system: A distribution centre management system, or DCMS,
is an enterprise oriented application designed to track the activities performed in a distribution
centre.

Merchandise management: Merchandise management is the process by which a retailer attempts
to offer the right quantity of the right product at the right place and time while meeting the
retails firm’s financial goals.
Store operation: Store operation is about executing the strategies and policies of the retail.

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