rm in om fm hrm

7/31/2019 rm in om fm hrm

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CONTENTS

Retail management in :

Human resource management - sarika (46)

Operations managemet- Finance - jishad (15)

Operations management-operations -shafna jasmin(50)

Operations management-operations (cont..) - jazeer (14)


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RETAILMANAGEMENT

The various processes which help the customers to

procure the desired merchandise from the retail stores for

their end use refer to retail management. Retail

management includes all the steps required to bring the

customers into the store and fulfill their buying needs.

Retail management makes shopping a pleasurable

experience and ensures the customers leave the store with

a smile. In simpler words, retail management helps

customers shop without any difficulty.


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HRM involves recruiting, selection, training, compensating,and supervising personnel in a manner consistent with the

retailers organization structure and strategy mix.

Personnel practices are dependent on the line of business,

number of employees, the location of outlets, and other

factors.

Example: U.S retailing employs 23 million people, thus

there is a need to attract and retain the existing ones.Two million fast food workers are aged 16 to 20, and they

stay in their jobs for only short periods.


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Hiring persons with Right Attitude is important

in all organizations .

The HR Function in Retail Involves:

1. Identifying Various roles in organizations

2. Recruiting people with the right attitude to fit

the jobs.

3. Training

4. Motivating Employees

5. Evaluating employee performance


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Retailing has made lot of progress in career advancementforWOMEN.

Some of the issues for retailers to address with regard tofemale workers:

Meaningful training programs, advancement opportunities,flex time-ability of employees to adapt their hours, jobsharing and child care.

More minority workers rate career opportunities as

favorable than unfavorable and have a better view ofretailing than nonminority workers.

Issues to be considered:

Clear policy statements, active recruitment programs etc.


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The HRM process consists the following interrelated activities:

Recruitment

Selection

Training

Compensation

Supervision


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CONT..

Recruitment- generates job applicants. Sources includes

educational institutions, channel members, competitors,

ads, employment agencies, unsolicited applications,

employees and wages.

Selection- requires thorough job analysis, creating job

descriptions, using application blanks, interviews, testing,

reference checking and physical exams.

Training after selection employees undergo proper

training methods.


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CONT..

Compensation- employees are compensated by direct

monetary payments and/or indirect monetary payments.

Supervision- main task is employee motivation. The

causes of job satisfaction/dissatisfaction and the

supervisory style must be reviewed. Supervision is

provided by personal contact, meetings and reports.


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OPERATIONMANAGEMENT ONRETAILING


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INTRODUCTION

Operation management is the efficient and effectiveimplementation of the policies and tasks that satisfya retailers customers, employees andmanagement(and stockholders if it is publically

owned) For a firms to succeed in the long term, operational

areas need to be managed well.

A decision to change a store format or to introducenew anti theft equipment must be carefully

reveiwed since these acts greatly affectsperformance . In running their buisiness, retailexecutives must make a wide range of operationaldecisions such as these:


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CONT

What operating guidelines are used?

How can inventory best be managed?

How can the personal safety of shoppers and

employees be ensured? What levels of insurance are required?

How can credit transactions be managed mosteffectively?

Should any aspects of operations be outsourced? What kind of crisis management plan should be in

place? etc


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STOREFORMAT , SIZE, ANDSPACEALLOCATION

A key store format decision for chain retailers is whetherto use prototype stores , where by multiple outletsconform to relatively uniform construction, layout andoperations standards. Such stores make centralized

management control easier, reduce construction costs,standardized operations, facilitates the interchange ofemployees among outlets, allow fixtures and othermaterials to be brought in quantity and display a consistchain image.

Retailers also focusing on allocating store space. Theyuse facilities productively by determining the amount ofspace, and its placement for each product category.some times retailers drop merchandise lines becausethey occupy too much space.


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CONT

With a top-down space management approach aretailer starts with its total available store spacedivides the space into categories and then works onproduct layouts

With bottom-up space management approachbegins planning at the individual product level andthen proceeds to the category total store andoverall company levels.


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PERSONNELUTILIZATION

From an operational perspective, efficiently utilizingretail personnel is vital : because these are themain points.

1. Hiring process

Workload forecasts

Job standardization and cross training

Employee performance standard Compensation

Self-service

Length of employment


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STOREMANAGEMENT, ENERGYMANAGEMENT,ANDRENOVATIONS.

Use better insulation in constructing and renovatingstores.

Carefully adjust interior temperature levels during nonselling hours. In summer, air conditioning is reduced at

off hours; in winter, heating is lowered at off hours Use computerized system to monitor temperature levels

Substitute high efficiency bulbs and fluorescent ballastsfor traditional lighting.

Install special air conditioning systems and controlhumidity levels in specific store areas like freezerlocationsto minimize moisture condensation.


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OUTSOURCING

With outsourcing a retailer pays an outside party toundertake one or more of its operating functions.The goals are reduce the cost and employee timedevoted to particular tasks .for eg : limited brands

use outside firms to oversee its energy and use andfacilities maintenance. Crate and barrel outsourcesthe management of its e mail programs.

Retailers agree that outsourcing can provide them

with a higher level of expertise as well as freshtalent and out of the box thinking.


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CRISISMANAGEMENT

Retailers may sometimes be faced with crisis situationsthat need to be managed as smoothly as feasible. Crisismay be brought on by

An in store fire or broken water pipe,

Access to a store being partially blocked due to

picketing by striking workers a car accident in theparking lot

A burglary

A sudden illness by the owner or a key employee

A storm that knocks out a retailers power

Unexpectedly high or low consumer demand for agood or services,

A sudden increase in a suppliers prices,

A natural disaster like flood or an earthquake or otherfactors.


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INVENTORY MANAGEMENT


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INVENTORY MANAGEMENT

A retailer uses inventory management to maintain aproper merchandise assortment while ensuring thatoperations are efficient and effective.


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STORE SECURITY

Store security relates to two basic issues:

a)Personal security

b) merchandise security

Many shoppers and employees feel less safe at retailestablishments. To solve the problem in shoppesthe retailers are take remmedial actions. They are

1) Uniformed security guards provide a visible

presence that reassures customers andempolyees, and it is warning to potential thievesand muggers.


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2) Under cover personnel are used to complementuniformed guards.

3) Brighter lighting is used in parking lots,which arealso patrolled frequently by guards.

4) TV cameras and other devices scan the areasfrequented by shoppers and employees.


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INSURANCE

Among the types of insurance that retailers buy are workerscompensation,product liability, fire,accident,property,andofficers liability.

Insurance decisions can have a big impact on a retailer:

(1) Premium have risen dramatically(2) Do not provide coverage on all aspects of operations

(3) Insurance against environmental risk


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CREDIT MANAGEMENT

Credit management is a term used to identifyaccounting functions usually conducted under theumbrella of Accounts Receivables.

Several factors are used as part of the creditmanagement process to evaluate and qualify acustomer for the receipt of some form ofcommercial credit.

This includes gathering data on the potentialcustomers current financial condition, including thecurrent credit score.


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The current ratio between income and outstandingfinancial obligations will also be taken intoconsideration. Competent credit managementseeks to not only protect the vendor from possible

losses, but also protect the customer from creatingmore debt obligations that cannot be settled in atimely manner.


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THANKYOU

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