Effective Store Management
Course Info
Code IND09-105
Duration 5 Days
Format Classroom
Course Summary
Retail is an extremely vast industry that every member of society will partake in at one point or another. Many of us will access the industry as a customer and will only experience what it has to offer at face value – a simple process of buying a product. However, the industry does not end there. Retail is multi-leveled, with each layer being highly complex.
Retail management is a crucial factor in ensuring retail stores can function at maximum efficiency. Store management requires those involved to be skilled at maintaining records of inventory and stock. Stock control is essential for reducing waste in product and profits, and guarantees all stock is able to be used and sold to increase profits.
Stock control is not the only important factor. Effective store management also includes the ability to reinforce and maintain a secure relationship throughout the supply chain: from manufacturer to the supplier, and to those selling the stock in-store. Without these connections, a retail store will not be able to conduct its purpose and will be at a complete financial loss.
The store’s proficiency also falls onto the responsibility of the employees. A manager needs to be present and possess the necessary skills to keep all employees on track and working accordingly. Building relationships and coaching those where needed is a secure way of keeping a store effective and the workforce dedicated to their roles.
- To achieve maximum performance in store.
- To provide exceptional customer service.
- To apply complex principles of supply chain management.
- To effectively manage warehouse operations.
- To carry out frequent reviews to ensure productivity.
- To greatly reduce losses through scientific stock control.
- To maintain adequate records of inventory.
This course is designed for anyone who has the responsibility of management within the retail industry. It would be most beneficial for:
- Sales Managers
- Customer Service Managers
- Marketing Officers
- HR Personnel
- Regional Managers
- Retail Franchise Owners
- Product Managers
- Warehouse Managers
This course uses a variety of adult learning styles to aid full understanding and comprehension. Participants will review physical and digital records of inventory and methods of stock control to understand the importance of record-keeping in relation to supply chain management.
They will be provided with the necessary tools and systems to practice the process of stock control based on examples of real-world successful retail businesses. This will allow the participants a comprehensive understanding of what would be required while creating detailed and accurate records of stock. will partake in group discussions and role-playing activities to engage with the other learned skills and will work together to simulate maintaining supply chain processes.
Course Content & Outline
- Modern warehouse functions.
- Streamlining the flow of material.
- Understanding warehouse management systems.
- Measuring warehouse and store performance.
- Barcoding, issues of stock, and receipts.
- Stocktaking and types of stockholding
- Order quantities and safety stock.
- Methods of reducing and disposal of surplus stock.
- Review types of inventory record-keeping systems.
- Category records, Vendor records, and Item records.
- Define processes and stock types.
- Strategies for stock control.
- Just-in-time (JIT), Vendor-managed Inventory (VMI), Batch Control.
- Understanding the benefits of consignment stock.
- Transporting products through the supply chain.
- Maintaining and measuring stock control efficiency.
- Creating the ideal supply chain.
- The vitality of organisational structure.
- Building flexibility into the supply chain.
- Leading a supply chain turnaround.
- The theory of constraints.
- Mapping the supply chain process.
- Understanding the concept of ‘sawtooth curve.’
- Utilise the Economic Order Quantity (EOQ) graph to identify improvements.
- Inventory in the distribution network.
- Theories of motivation.
- Advantages of dedicated employees.
- Establishing a safe and healthy working environment.
- Engaging with employees to create positive and appropriate workplace relationships.
- Developing powerful communication.
- Coaching weaker employees to improve performance.
- Offering rewards and incentives for outstanding work.
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