9). The rotation of perishable goods can be improved by conducting a survey and a questionnaire to the customer to indicate the needs of customer. Analyzing a turnover ratio per capital of each product will minimize the perishable rates. If a proper turnover ratio were set for the operation of buying and stocking of a product, KFF can easily expect what to expense and when to allocate the budget cutting the loss of excessive supply of the product. Specialty Shops Because KFF offers sophisticated professions such as butcher, baker, and wind steward, “payroll of these specialty positions is higher than that of the clerks and stock personnel” (KFF strategic plan, p. 9).
Food cost managers will generate sales forecasts to reduce the carrying costs of inventory. Perpetual inventory management will track all in store inventory transactions. This includes ordering, receiving, selling, cycle counts, and inventory adjustments. An automated inventory system would allow Kudler fine foods to meet current and future customer demands. This would also save money on hiring and training employees to order products for the stores.
5/2/13 BSA/310 Frequent Shopper Program Kudler Fine Foods created a frequent shopper program which gives customers incentives to continue shopping there. Their rewards are determined by how much is spent on groceries and how frequent purchases are made. “Frequent Shopper Program proves the ability to gather data for marketing programs and run promotions for the loyal customers.” (Frequent Shopper). Web based advertising would allow for major cost reduction and provide helpful and effective consumer awareness about said products. In order for Kudler Fine Foods to develop a functioning frequent shopper program, it must track and monitor consumers shopping behavior.
Truckload volumes would be more easily gathered to and from distribution centers, lowering transfer and customer freight costs. However, the effect of using third party warehousing and transportation on transfer and customer freight costs is less obvious. 2- What impact would warehouse consolidation have on inventory carrying costs, customer service levels and order fill rate? Inventory carrying Costs would be reduced with better utilization of facilities and less duplication of effort. The company operates two warehouses in Newark, NJ and Los Angeles, CA.
The differences over cost driver between LG and TORK are mainly come from the followings, please see below: Design: LG uses the plastic parts which the weight is lesser than Tork steel’s part and also the cost are cheaper. Moreover, the assembled times of LG are faster than Tork along with the wages rate of LG are lower. In conclusion, LG are cheaper and faster than Tork Geography: The freight costs of LG are significantly higher due to requiring ocean freight and shipping to distribution centers, whereas Tork relies on trucks and trains. However, LG enjoys a large wage advantage in Korea. Facility: LG has higher manufacturing volume based on they has an advantage from scale of economies by purchasing lots of material and got the discount on the prices.
A higher sales revenue will occur for etisalat which means the income the company receives from business activities, usually happen from sale of goods and services to customers. Etisalat will also have more opportunities to invest in upcoming projects. If the opposite occurs and etisalat has low availability and higher costs it would mean, people spend less on their goods/services which would mean there’s a low
Also, Urban Outfitters makes sure they have the current trends, Sears and Wal-Mart stores are just behind the curve when it comes to fashion. 3. Identify at least three reasons why exclusivity is valuable. Exclusivity is valuable for many reasons; not as much competition, supply and demand, and uniqueness. These all can make the prices higher and distribution can be controlled much easier.
P1 – Describe the structure and organisation of the retail sector Organisation What is retailing? Retailers provide a service to customers at a profit. They are able to do so since the aspects of retailing – operating from an appropriate location, offering attractive product assortments, ensuring enough stock is available to meet demand – add value to the products bought from suppliers and eventually sold to customers. Retailers cut their bulk deliveries from suppliers so individual customers can buy the quantity they require – very often a single item. Different types of stores: Type of retailer | Example | Department Stores | John Lewis Partnership, Debenhams, House of Fraser | Multiple Chain | WHSmith, Mothercare, Boots the Chemist | Independents | Spar, Londis | Supermarkets | Sainsbury’s, Tescos, Morrisons | Specialist Outlets | PC World, Waterstones | Catalogue Stores | Argos | Membership Clubs | Matalan | Discount Stores | Superdrug, Currys | Internet Stores | Amazon | Internet Auction | eBay | Emerging Stores – Hybrid Stores A Hybrid Store is a shop which has another store usually a franchise within the store for example, in the UK and there is a Waterstones with a Costa Coffee within the shop.
In my opinion, Kauffman’s hourly compensation rate can be lower. Mainly because of the larger inventory which can be selected to a lower cost. Kauffman targeting the middle class would lead to more customers meaning more profit. While at Parkleigh’s the employees discount is
Similarly, the transaction cost for stores such as H&M is more than that of the jewelry shops but less than the department stores. Also, it is much harder for a business enterprise to internalize if it has high transaction cost. Thus, jewelry shops can internalize at an easier way as they have comparatively lower transaction costs. Since, jewelry shops can internalize in an easier way, theoretically, they should make more money. And it is only fair that the shop that makes more money has to pay more rent.