Integrating the Retail Strategy

A major goal of Retail Management has been to describe the relationships among the elements of a retail strategy and show the need to act in an integrated way. Figure 20-2 highlights the inte­grated strategy of TJX, the off-price apparel retailer. TJX has been cited as a “high performance retailer”—and it outperforms most retailers.

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Control: Using the Retail Audit

After a retail strategy is devised and enacted, it must be continuously assessed and necessary adjustments made. A vital evaluation tool is the retail audit, which systematically examines and evaluates a firm’s total retailing effort or a specific aspect of it. The purpose of an audit is to study what a retailer is presently

Envision the Retail Future

1. Envision the Future: Part 1 Note: Following are findings from a study encompassing an industrywide retailer survey and interviews by Meridian- NorthStar Partners and Progressive Grocer; a similar supplier survey and interviews; a Web-based survey of 1,000 shop­pers across age groups by Carbonview Research, a division of Stagnito Business Information + Edgell Communications;

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Achieving Excellence in Retailing

1. Introduction The 2016 A. T. Kearney Achieving Excellence in Retail Opera­tions (AERO) study uncovers both the good and the bad in this new era of store operations. The good: a clear and consistent trend of “smarter” retail. Survey responses from executives at more than 100 global retailers reveal that companies are align­ing store

Careers in Retailing

Overview A person looking for a career in retailing has two broad possibilities: owning a business or work­ing for a retailer. One alternative does not preclude the other. Many people open their own retail businesses after getting experience as employees. A person can also choose franchising, which has elements of both entrepreneurship and managerial

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Historical Evolution of Production and Operations Management

For over two centuries operations and production management has been recognised as an important factor in a country’s economic growth. The traditional view of manufacturing management began in eighteenth century when Adam Smith recognised the economic benefits of specialisation of labour. He recommended breaking of jobs down into subtasks and recognises workers to specialised

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Concept of Production

Production function is that part of an organization, which is concerned with the transformation of a range of inputs into the required outputs (products) having the requisite quality level. Production is defined as “the step-by-step conversion of one form of material into another form through chemical or mechanical process to create or enhance the

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Production System

The production system of an organization is that part, which produces products of an organization. It is that activity whereby resources, flowing within a defined system, are combined and transformed in a controlled manner to add value in accordance with the policies communicated by management. A simplified production system is shown above. The production

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Production Management

Production management is a process of planning, organizing, directing and controlling the activities of the production function. It combines and transforms various resources used in the production subsystem of the organization into value added product in a controlled manner as per the policies of the organization. E.S. Buffa defines production management as, “Production management

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Operating System

Operating system converts inputs in order to provide outputs which are required by a customer. It converts physical resources into outputs, the function of which is to satisfy customer wants i.e., to provide some utility for the customer. In some of the organization the product is a physical good (hotels) while in others it

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Operations Management: Framework and Objectives

1. A Framework for Managing Operations Managing operations can be enclosed in a frame of general management function as shown in Fig. 1.3. Operation managers are concerned with planning, organizing, and controlling the activities which affect human behaviour through models. 1.1. Planning Activities that establishes a course of action and guide future decision-making is

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Managing Global Operations

The term ‘globalization’ describes businesses’ deployment of facilities and operations around the world. Globalization can be defined as a process in which geographic distance becomes a factor of diminishing importance in the establishment and maintenance of cross border economic, political and socio-cultural relations. It can also be defined as worldwide drive toward a globalized

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Scope of Production and Operations Management

Production and operations management concern with the conversion of inputs into outputs, using physical resources, so as to provide the desired utilities to the customer while meeting the other organizational objectives of effectiveness, efficiency and adoptability. It distinguishes itself from other functions such as personnel, marketing, finance, etc., by its primary concern for ‘conversion

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Need for Selecting a Suitable Location

The need for selecting a suitable location arises because of three situations. PLAN LOCATION AND LAYOUT When starting a new organisation, e., location choice for the first time. In case of existing organisation. In case of Global Location. 1. In Case of Location Choice for the First Time or New Organisations Cost economies are

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Factors Influencing Plant Location/Facility Location

Facility location is the process of determining a geographic site for a firm’s operations. Managers of both service and manufacturing organizations must weigh many factors when assessing the desirability of a particular site, including proximity to customers and suppliers, labour costs, and transportation costs. Location conditions are complex and each comprises a different Characteristic

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Location Theories of Production and Operation Management

Alfred Weber’s Theory of the Location of Industries Alfred Weber (1868-1958), with the publication of Theory of the Location of Industries in 1909, put forth the first developed general theory of industrial location. His model took into account several spatial factors for finding the optimal location and minimal cost for manufacturing plants. The point

Location Models of Production and Operation Management

Various models are available which help to identify the ideal location. Some of the popular models are: Factor rating method Weighted factor rating method Load-distance method Centre of gravity method Break even analysis 1. Factor Rating Method The process of selecting a new facility location involves a series of following steps: Identify the important

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Locational Economics of Production and Operation Management

An ideal location is one which results in lowest production cost and least distribution cost per unit. These costs are influenced by a number of factors as discussed earlier. The various costs which decide locational economy are those of land, building, equipment, labour, material, etc. Other factors like community attitude, community facilities and housing

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Plant Layout in Production and Operation Management

Plant layout refers to the physical arrangement of production facilities. It is the configuration of departments, work centres and equipment in the conversion process. It is a floor plan of the physical facilities, which are used in production. According to Moore “Plant layout is a plan of an optimum arrangement of facilities including personnel,

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Classification of Plant Layout in Production and Operation Management

Layouts can be classified into the following five categories: Process layout Product layout Combination layout Fixed position layout Group layout 1. Process Layout Process layout is recommended for batch production. All machines performing similar type of operations are grouped at one location in the process layout e.g., all lathes, milling machines, etc. are grouped