Retail Store Operation and Inventory Management
1. From a proprietorship Mobile Handset street shop you are upgrading your business to a branded Electronics Store (like Croma) with an Authorised Service Centre (Multiple brands) too. Explain how you will plan the Inventory Management of such a store.
2. The implementation of strategy requires retail managers to be aware of the financial implications of their decisions. In the capacity of a Category Manager for the branded Electronics store (like Croma) and based on the various ratios commonly used to assess financial performance, how would you go about improving each of the ratios, so that overall financial performance improves?
3. The advent and penetration of digitization has speeded the making of all retail outlets extremely efficient. (Name the retail store of your choice to answer the questions).
a. Which data-driven functions (like Inventory, Accounts etc.) has digitization impacted the most and how?
b. How has the various security tools and techniques impacted various jobs like Administrative Head, Cashier, Store Staff etc.) been enhanced by digitization?