Keywords: process, merchandise, binning, stocking, receiving, metric Merchandise Receiving Process Receiving merchandise into a Walmart store seems to be an easy task; to receive, stock, and prepare for back stock. Walmart receives merchandise daily through a very large and fast logistics process. In this process three teams of associates will receive, stock, and bin the merchandise. The purpose of the three teams is to ensure inventory accuracy and maintain fully stocked shelves. The process will be shown in a flowchart and the factors that affect the process design will be analyzed of receiving merchandise into a Walmart store.
An article from San Francisco University, says that Walmart boasts of the strongest Information Technology system structure of all private companies in the world. This enables Walmart to predict customer needs through customer behavior. It can identify their preferences and demands and uses this information to adjust and track inventory as required, making efficient deliveries. All these account for and lead to a high variation of the inventory on the shelves. A greater variation and a higher quantity of items are available for customers.
Comparison of Communication Style Wal-Mart v/s Sears Both, Wal-Mart and Sears retail outlets have embraced low price strategy to motivate customers to buy their goods. These two retail outlets have many marketing strategies in common. They also have some different approaches when dealing with customers of diverse culture. Wal-Mart aims to sell specialized items to its customers. In regard to this, Wal-Mart management stocks items that they feel would sell out faster during specific times.
Amazon was founded in 1994 and is the largest online retailer in America. The retail service whose strategy and market accomplishment were projected on condition that an expansive selection of products, an easy way to purchase them, and fast delivery. The company’s tactical intent was to be the world’s biggest and most powerful retail supplier. The objective of Amazon was to make it a lot easier for patrons to select and buy products and to eliminate the stresses involved in driving to the mall and finding a place to park. Its approach incorporates consumer convenience and a wide collection of retail selections.
Many elements can be placed to form marketing mix of any organization but most significant elements are given as follows (i) Store location (ii) Merchandise and Category Management (iii) Pricing (iv) Inshore marketing (v) Customer Relationship Management These retail marketing mix strategies at Argos are discussed here in detail (i) Store Location:- The selection of store location is most significant and important decision and success of business heavily relies on this decision. Store location contributes to the success of any organization. Argos initially emphasised high streets locations and shopping malls and continue opening its store near populated areas in order to provide consumer easy access and facility to visits the store. Explains stores can be opened in planned
Sam’s Club is the same way but it is geared towards companies and seems to sell more office supplies. Costco is rapidly expanding since they have noticed the two differences between BJ’s and Costco, with the intent for people to do one stop shopping for family and work all at one place. 3.) Out of Costco, BJ’s and Sam’s Club the strongest financial performer is Costco. Costco is making the most profit by the high amount of net sales and total revenue.
Problem one implementation plan They order products through their smartphones, and then they deliver them. Customers are able to scan QR codes to see what the daily special is. And they can even use the app to vote on what they would like the special to be tomorrow. Because of Walmart's vast global supply chain, the company is able to give these customers access to valuable products at great prices – like imported milk and juice. For the customer, digital technologies can integrate online and off-line sales channels and drive a seamless shopping experience.
If you look at the above information and apply it to a Verizon Retail location, it is easy to understand the flow of information. When a customer comes into the store to start a new line of service, information is gathered immediately. Their name, address, and social security number. This information is intended for the use of determining credit worthiness of the customer. Furthermore, it is also used later in the acquisition of new business and the retention of the customer.
Self-checkout is connected with retailers store information system. From the retailers central office it is seen as yet another point of sale with all sales information consolidated and managed in a usual way. Modern self-checkout is powerful system that can handle the same functionality as traditional tills and even more, including proceeding loyalty cards and programs, calculating discounts, selling GSM prepaid cards, giving cash back, handling items with security items or no barcodes. Literature Review: The global retail environment has observed a new trend towards the rapid use of self-service technologies (Jamal, 2004, Burke, 2002) where transactions among customers and employees are accompanied and supported electronically (Merrilees and Miller, 2001, Meuter et al., 2000). According to Michel Haagmans (Director of Re-Vision) “many leading European retailers are heavily investing in self-Checkout technology as part of their growth strategy” (Anon, 2010, p.1) with leading grocery retailer, Tesco & Sainsbury, increasingly using the technology (Anon, 2010, Hobson, 2010).
Big stores (chain stores) are the result of when a small store (independent store) becomes successful and is able to expand into multiple locations. They are successful for many reasons that are important to customers and smaller stores can benefit greatly by operating next to a big store. Testimony from small store owners and studies show that big stores have the potential to be a positive addition to any community including the surrounding smaller stores. Many studies have been performed showing evidence that small stores that are located near big stores have experienced increased sales as a result of an increased traffic flow of customers from the larger store. Purdue University conducted a study consisting of 101 entrepreneurs between the times of 2004-2006 asking why they decided to start a business.