Human Resource in retail may range from recruiting and hiring employees to larger areas like identifying training needs at various levels within the organization and then designing and implementing the programmes. Responsibilities may also include overseeing compensation and benefits, and planning for and ensuring legal compliances in hiring...
Supply chain management and logistics are fast emerging as key focus areas in retail. Supply Chain Management is the integrated management of the flow of materials and products, services and information from raw material suppliers, through operations, to the final customer and back again. Supply chain management and...
Retail is one of the most mature users of information technology. From RFID implementation to e- technology-driven training programs delivered over satellites or the internet, to state-of-the-art cash register and credit systems. Careers in this department may involve the overall responsibility for the data processing efforts within the...
While barter would be considered to be the oldest form of retail trade, since independence, retail in India has evolved to support the unique needs of our country, given its size and complexity. Haats, Mandis and Mela’s have always been a part of the Indian landscape. They still...
Retail is the final stage of any economic activity. BY virtue of this fact Retail occupies an important place in the world economy. In an attempt to understand the scope of the term retail, various definitions of the term have been examined. According to Philip Kotler: “Retailing includes all...
In the not so distant past, manufacturers created a product, advertised it slickly and sold it through their distribution channel. The manufacturing companies enjoyed economic power, as they were significantly bigger in size as compared to the distributors or the retailers. They determined prices, the products that the...
Retail professionals in the store operations career area oversee the overall store operations and profits. Positions include Head of Store Operations, Regional Manager and District Manager, and responsibilities in this area may include managing staff functions like loss prevention and/or human resources. Responsibilities in operations may vary from...
In retail, marketing functions may be centralized and may include different departments like advertising, sales promotion, and public/press relations. Marketing would also look at ways of understanding the customer and his behavior by way of focus groups and analysis of customer buying patterns to develop strategies and plans...
The finance retail career area includes all accounting and treasury functions like accounting for income, paying expenses, compiling and maintaining financial records, money management and cash flow control, banking, investment and managing credit lines. Auditing of stores for merchandise and money may also be a part of the...
Various retail models exist in the world of retail. To start with, let us first understand what a business model in retail entails. A business model is the manner in which a business chooses to serve its customers and stakeholders. In retail, a business model would dictate the...
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