An automated ordering system will help with this issue, as well. Having qualified people in positions such as the baker, wine steward and butcher, are essential to the core values of Kudler Fine Foods. Having to pay them, does make the payroll higher, but it is a cost, that this business will have to pay. Having these people is one reason customers shop there, for the advice, and interaction these people provide. Qualified in store experts, is something that sets this business apart from other stores.
Examine the marketplace to make sure new competitors haven't found a way in without you knowing it. Continually modify your plans to grow your business into the leader of your local marketplace. The bottom line knows everything possible about every competitor. The important steps are to always maintain a good supply of the most in-need consumable dollar store items on the shelves. Your shoppers must always be able to find these necessity items in stock whenever they are needed.
On February 9, 2006, Tesco announced that it planned to move into the United States by opening a chain of small format grocery stores in the Western states (Arizona, California and Nevada) in 2007 named Fresh & Easy. The initial planned capital expenditure is up to ($436m USD) per year. After Tesco CEO Terry Leahy announced serious resources had been committed to developing a format that would be popular with American consumers, investors responded with some skepticism with a small drop in the company's share price. The markets were expected to be around 1,400 square meters (15,000 sq. ft.) good-sized supermarkets in many countries, but about one-third the size of an average supermarket within the US.
Giving staff better training in any business will improve the service, less mistakes will occur and staff will feel worthwhile. There seems to be no respect for the night managers. This is a big weakness as managers would need respect by other staff to make it work. As there is a lot of food wastage in the business, it is down to all the managers to control. A Change in the staffing and a rota in place would ensure managers have a full overview of what is happening and when.
Threats One threat for Kudler Fine Foods is in the process of inventory management. Excess inventory will always be a concern because it represents how much money is being tied up in merchandise that is not moving or generating further income. This can also lead to many write-downs of merchandise. The solution would be to maintain adequate levels of inventory so that stock-outs do not occur more than a couple of times a year. Adjustments to stock levels should be made if it is needed.
Currently the company’s marketing budget is truly an advertising budget. No real marketing exists outside of a catering brochure. A marketing plan is an integral part of a company’s business plan. Small-scale specialty food stores face unique challenges and opportunities when marketing their products. If the company wants to be successful, the store must decide what market the product will thrive in, what the competition is and how to market the product given the retailer’s available resources (Marketing considerations for small-scale specialty food producers, 2007).
Lesson 05 Forecasting & Smoothing Methods Solutions Solved Problem #1: see text book Solved Problem #2: see textbook (manual example using seasonal relatives) Solved Problem #3: see textbook Solved Problem #4: see textbook (you do not have to do this problem manually, use the template and notice how the template answers differ slightly from the seasonal relatives provided in the manual example) To avoid manually entering the data into the templates it can be copied and pasted from Data Sets on the Lesson Page. Use “copy, paste special, values” to transfer the data to the template. #1: A commercial bakery has recorded sales (in dozens) for three products, as shown below. Blueberry Muffins 30 34 32 34 35 30 34 36 29 31 35 31 37 34 33 Cinnamon
income statement and balance sheets in the common size format many trends can be associated with and analyzed with their current situation. As a whole on their income statement operating expenses are increasing while net income available to stockholders is decreasing as a percentage of total sales. In 2006, 3.63% of their sales were available to stockholders, while in 2008 only 1.44% of net income was available to shareholders. Some of the major factors affecting Whole Foods, Inc. income statement include an increase in research and development by 1.31% over a two year period ending September 28, 2008. They also faced increased operational expenses of selling, general, and administrative costs by 0.49%.
National brand versus store brand On February 26, 2013 I went to Safeway on 2nd and San Fernando near San Jose State University to compare two house brand items versus two national brand items. It was around 4pm and the only workers to be found were either at the register or behind the counter preparing food for hungry customers. As I walked down the aisle, the first thing that caught my attention was these 99cents ketchup that were on sale from its original price of $1.99. When I got a closer look at this brand of 99cents ketchup, I’ve notice that it was a store brand because right at the very bottom right there was a Safeway logo on it. Next to this Ketchup was the well known brand labeled “Heinz tomato ketchup” which was being sold for
Whole Foods knows that quality is their biggest responsibility to their customers, they realize that in order to ensure product quality they must be able to trace the quality all the way back to their sources; providing suppliers with product profiles and testing the suppliers’ ability to meet their quality goals. Whole Foods encourages decisions to be made at regional levels due to the fact that they understand the needs of local shoppers better than the other levels within the business. Trader Joe’s although doesn’t mention quality as a core value it still means something to the corporation. Trader Joe’s has their own approach to ensuring their customers product quality, 80% of products that Trader Joe’s offers are private label which is five times more than the typical grocery stores have to offer their customers this allows Trader Joe’s can focus on developing customer loyalty to their own brand. Whole Foods mission statement needs any improvement this is because the current mission statement is structured in a way that allows for their mission statement to be clear and concise.