The experience with excess inventory event has prompted owners of La Boutique C, to be more careful in buying merchandise after the output has no time. This will avoid staying in the stores taking up space, increasing storage costs, patent costs, and affecting the cash flow of the business for the purchase of different goods. Four years historical inventory data for La Boutique "C" The La Boutique “C” inventory data is the source for develop management proposal. Annual trend lines were plotted in a graphic to display the inventory amounts for each year and the trend line. In this case is positive, which indicates that the probability of inventory levels in the subsequent years will continue to rise without considering any additional factors that may influence the business.
Your shoppers must always be able to find these necessity items in stock whenever they are needed. These much needed products include household cleaners, health and beauty items, paper products and food items. As the current market structure of the dollar general store is important we look at the effect of government regulations. As seen in the last couple of years, DG has started offering advanced in-store services to their employees which in turn is passed to the consumers. However, more services can be added to attract consumers the best thing any business person can do is to get familiar with the country that you’re targeting.
The distribution networks of the new companies are high and tends to affect the operations of JCP. Therefore, the company should build a strong distribution network so as to counter significantly the operations of the new companies that produce similar products. The “mom and pop” stores have been reported to resort in selling products online, otherwise they become obsolete. J. C. Penny’s SWOT analysis The strengths of the company are: * The existence of more than 1100 locations worldwide * Their quality products such as clothing, jewellery, beauty products and even footwear and furniture * The company also offers shipment of their goods for customers, which gives their customers the best experience in the end, hence attracts more customers. * The company also offers free haircuts for the children The weaknesses of JCP Since its competitors give similar products, the company is faced with limited market share 2. International business operations have also challenged the services of JCP due to the current emerging economies worldwide.
The overall strategy of the company would be to make the greatest profit on goods whilst not carry stock for a prolonged period of time, ie beyond the current season. In order to create and achieve the common goal weekly team meeting are held with either the entire team or the leaders of each team. The aim of this meeting is usually to discuss the current stock lines, how they are selling, what changes can be made to the sales strategy in order to drive up sales in general but also how to move difficult lines. Once these strategies are agreed it is then expected that each of the department heads will relay this information to the rest of their team. SO in the meeting it is decided to hold a flash sale for two days on all stock that has been held for over 6months and offer it at 40% discount.
The first way to improve working capital is to make the excess liquid funds work for the company. These funds should be invested back into the company. This can be accomplished by reducing long-term liabilities with high interest rates such as the mortgages on facilities. The second is to manage the inventory held by the company. Currently Competition Bikes purchases inventory for production the month before it goes to the production line.
Other key factors are to maintain a record of the inventory that is being sold so the store can better equip products in all three locales and provide for better product placement within all Kudler stores. The design trade-off approach for the project is as follows. A trade-off for the company to increase revenue will be the expenditures for the frequent buyer program, because essentially the company will not see a return profit for an allotted time. The implemented program will allow the company to see a small profit after the first year of the program being implemented. Another trade-off for the company will be the stores performance.
With this job I really enjoyed being able to dress the mannequins, before any customers came into the store. I had to give them a sense of style to sell and advertise clothing in my section of the store. In Forever 21 all the rooms in the store have different themes. I particularly worked in the plus size section of the store, so I had to put all those themes inside of one room. I adored being able to pick the clothes I liked for the mannequin and choosing accessories, purses etc.
You have plenty of locations and if you firmly believe in your company culture, than those who come work for you will stay. Overstaffing vs. understaffing Being a retail chain of stores I believe that during down season it would be better to be understaffed since you are not as large as other retailers and cannot afford to waste money. However, during high season you should overstaff since you want to maintain that great and comfortable experience for your customers that you are well known for. This is another reason for having a flexible workforce. Short vs. long-term focus In the case of short or long term focus when it comes to employment, it is my opinion that it depends on what you are looking for.
For example this is including things like such as if the customers is going to choose to buy their clothes from a business like Debenhams as they might be trying to show that they are very happy on the product that they are selling. Design of the marketing mix to satisfy the needs of the target market: The business will design their marketing mix around of the customers’ demands. This is important that the business design something that will meet the customers demand because they will have more sales and also more profits, if the business doesn’t do this they will lose sales and also a lots of profits, so this is very important that they do this if they don’t it will bring their businesses down. The business will make sure that they are investigation to find out what will be the best products
A number of approaches were considered to help Lowe’s lower expenses and increase profits. One approach was to grow Lowe’s brand recognition through new advertising approaches, such as social media, which will get the most out of the strengths. To overcome some key flaws, Lowe’s has a duty to provide cross training to all employees in all sections and jobs of the store prior to working alone. In addition, the execution of a quality assurance program to standardize the Total Quality Management (TQM) of products would help Lowe’s address various weaknesses and threats. Some of Lowe’s strengths include having the second largest market share in the industry, their creative ideas classes and videos, and their corporate social responsibility.