ML0012 – Store Operations

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Master of Business Administration- MBA Semester 3

ML0012 – Store Operations – 4 Credits

(Book ID: B1763)

Assignment Set - 1 (60 Marks)

Note: Answer all questions (with 350 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60

Q1. Retail store managers are accountable for successfully running a retail store. Elaborate 00+10=10

Answer : Store managers fill a number of roles in a retail environment. Ultimately, they are responsible for the store's overall profitability. Retail managers often must work long hours, including evenings and weekends, as these are

Q2. What are the factors that need to be considered before allocating space in a store? 00+10=10

Answer : Product Space Elasticity: According to Curran (1972) space elasticity is the ratio of relative

change in unit sales to relative change in shelf space. Positive change in space allocated to a

brand brings positive change in sales; however, this change may not be a linear function (see

Appendix 2 for its relation with display space). This relationship has been developed after

interviewing retailing manager. However, the values of

Q3. What is Standardization? Explain the levels of Standardization. 05+05=10

Answer : Standardization can be defined as reducing, simplifying, and organizing matters which are apt to become diversified, complicated, and chaotic if left uncontrolled.・Standards can be defined as rules・specified by standardization. There are mandatory standards and voluntary standards, but generally voluntary ones are referred to as standards.・

Industrial standardization represents

Q4. List the benefits offered by storage systems to retailers? Write a note on Automated Storage and Retrieval System 05+05=10

Answer : ADVANTAGES FOR RETAIL

Advantages in goods procurement

                                                                                                                                     

·         Optimum transport packaging that guarantees maximum freshness and quality of the goods across all stages of the supply chain

·         Significant reduction of damage to goods in transportation and storage

·         Availability throughout Europe

Q5. List and explain the components of merchandise handling? 00+10=10

Answer : Retailers can source their merchandise from manufacturers or produce their own store brands (referred to as private labels). Both manufacturer's brands and private labels have their own advantages. Selecting brands and choosing a branding strategy are components of a retailer's process of merchandise assortment planning. The most complex task for a retailer is to decide whether to source the merchandise from within the country or to source it from global sources.

The merchandise purchasing process consists of five steps: identifying the sources of supply, contacting the sources of supply,

Q6. Enumerate the significance of maintaining merchandise records? 00+10=10

Answer : The key to restocking is knowing what you've already sold and replacing what sells the best and most profitably. And the key to this knowledge is setting up and using an efficient inventory management system. Whether you already have inventory management software or plan to keep manual records, the following are the basics of inventory management.

Inventory Basics

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