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Pavitar Parkash Singh, Lovely Professional University Unit 4: Store Opening and Closing

Unit 4: Store Opening and Closing Notes

CONTENTS
Objectives
Introduction

4.1 Store Opening and Closing Process
4.1.1 Essentials of Store Opening
4.1.2 How to Close a Retail Store?

4.1.3 Essentials of Store Closing
4.2 Material Identification System
4.3 Receiving and Inspection
4.4 Storage System
4.5 Preservation of Materials in the Storage

4.5.1 Preservation Strategies and Tactics
4.6 Summary
4.7 Keywords

4.8 Review Questions
4.9 Further Readings

Objectives

After studying this unit, you should be able to:
Define store opening and closing process

Discuss material identification system
Describe receiving and inspection
Relate storage system

Explain preservation of materials in the storage
Introduction

In a retail environment, opening and closing times present unique security risks. At these times,
employees are particularly vulnerable to robbery. The following policy can be modified for any
retail business that stores cash and valuables such as banks and jewellery stores.
This procedure assumes that the store has an alarm system designed to arm/disarm the premise
alarms (motion detectors, door and window contacts, etc.) and burglar alarms (safes, vaults and
other storage containers) separately. The policy can easily be modified to accommodate other
alarm system configurations.

In this unit, we will discuss store opening and closing process, material identification system,
receiving and inspection, storage system. We will also focus on preservation of materials in the
storage.

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