Page 89 - DMGT553_RETAIL_STORE_MANAGEMENT

Retail Store Management

Notes 2. Use locked trash dumpsters to decrease the risk of merchandise being thrown into the
dumpster and retrieved later.
3. Do not permit personnel to park near loading docks or exit doors. A longer walk to stash
or transport items can be a real deterrent to employee theft.
4. Strictly enforce inventory control and tracking procedures.
5. Follow up on all references when hiring any new employee.

6. Implement an anonymous tip program that motivates employees to report theft, drug
abuse, and other business abuses by both coworkers and outsiders.
7. Keep a close tab on customers who spend a lot of time in your store. The closer you watch,
the less likely a shoplifter is to target your store.
8. Place observation cameras at strategic locations. As long as the red lights blink, they can
be fake cameras. One fast-food chain I know has three dummy cameras that appear to be
hidden but are easily observed by employees when they are peering down at the cash
register. They are inexpensive because they don’t work! However, the store also has one
real camera that is very well hidden. Employees who decide to raid the cash register
naturally turn away from the three cameras they think are observing them, shielding
their misdeeds with their bodies.
What they don’t realize is that they have turned directly to face the working, well-hidden
camera. They are surprised when, a week or two later, they are laid off without explanation. The
company never actually accuses them of stealing; if it did, it would have to reveal the presence
of the hidden camera, and then the game would be over.

Self Assessment

State whether the following statements are true or false:

6. Cost of Goods (COG) is what you pay the vendor for products.
7. Retail Selling Price of Merchandise is what your customers pay the store for these goods.
8. Initial Margin is the difference between retail and cost expressed as a percentage of retail.

9. Vendors are generally forced to reduce credit.
10. Delivery terms indicate when and where the title of the merchandise passes from the
seller to the buyer.

Caselet Retail Location Analysis

here has been a growing interest among the academia and the private sector for the
use of GIS techniques in the analysis and planning of retail store network. Over the
Tpast few decades the methodologies used for research of sighting of retail outlets
have become more sophisticated as a result of applicable modeling procedures being
developed with GIS. This study conducts a retail location analysis of the relationship
between the fast-food store performance of McDonald’s and Burger King and the various
spatial and socio-economic factors of their respective catchment areas. Analytical procedures
in GIS and statistical techniques have been applied to carry out the analysis in this study.
Study areas have been partitioned into a set of Thiessen polygons and into various spatial
Contd....

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