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a mini CEO:
Understanding
Roles &
Responsibilities
What according to
you is the role of a
CEO ??
CUSTOMER
PEOPLE
PROCESS
FINANCE
CUSTOMER
Customer Satisfaction
Customer Loyalty program
Customer Adoption (Know your BIG
customers)
Customer recovery process
Customer listening program (FGDs)
CUSTOMER
CUSTOMER
Customer Satisfaction
Make customers feel comfortable by paying attention
to every detail of the experience
CUSTOMER
Customer Adoption (Know your BIG customers)
How many customers do I know personally ?
How many my team members know ?
Do I only talk business with them or make
them be a part of my store
-Holi celebration, sale previews,
Anniversaries, etc
PEOPLE
Hiring
Motivation / Empowering
Training
Performance Evaluation
Listening (FGDs)
Acting
PEOPLE
Hiring:
Hire The Smile Train The Skill
Hire The Personality And The Confidence
Motivating/Empowering:
Push decision-making responsibility and authority down
to the lowest level possible
Appropriate and timely incentives
Recognition reinforces the areas that should be
continued Recognition meetings
PEOPLE
TRAINING
Training is required not only on the basics of running the
store, or departments but also on ways to improve stores
performance.
(The best training programs answer the what, when and how. What additional
training is necessary to continuously improve the skills of the store team. When
should training occur? How should training occur to ensure an efficient and timely
process)
Performance Evaluation:
PEOPLE
Listening (FGDs)
Involve
Acting
PROCESS
Inventory accuracy and forecasting
Retail shrink as a percentage
Compliance to statutory
requirements
Retail Operational Effectiveness
PROCESS
Retail Operational Effectiveness:
Improving bottom line/top line and customer service
through enhanced operational effectiveness.
Field managers and store managers need a toolkit of
their own that guides them in creating and applying
cost-reduction solutions.
E.g.:
1. BREAKING DOWN PROCESSES INTO SUFFICINET DETAIL TO IDENTIFY ROOT CAUSES
OF POOR PERFORMANCE
2. APPLYING THE OPERATIONS EFFECTIVNESS TOOL LEAN PRODUCTION TO THE
CHECKOUT PROCESS
In-store
activities
Unload
300
Stock
1000
2000
Back stock
Change
display
In-store
merchandising
Hours
per
week
Place Signs
Price
200 Changes
500
200
50
150
Tasks
. Unload trailer
. Checking
. Preprocessing
. Move to floor
. Put away
. Collect
. Put in wareouse
. Locate
Hours
per
week
200
25
75
300
700
150
300
50
. Set Planogarm
. Stock merchandise
. Revise Planogram
. Change and caps
50
100
25
25
35
15
Database Benefits
Provides sufficient detail to
Identify root causes of poor
Performance
Recasts economics along
Process lines to eliminate
The problem of different
Job responsibilities
Allows for peer-to-peer
comparisons
Checkout
overcapacity
Long
Checkout Lines
Cashier
Supply
Checkout Demand
RESULT
AFTER
BEFORE
Improved
productivity 1015%
Enhanced service
levels
Raised employee
morale
PROCESS
Retail shrink as a percentage:
Retail Shrink is the store level manifestation of a poor
corporate profit plan
Following global count as a process on daily basis and scan
audit on a quarterly basis
Loss prevention team and adapting best practices to
control and reduce the same.
FINANCE
Sales Per sq. ft.
Gross Retail Margin(Private
Label / High Stock Turns)
Manpower cost as a
percentage
Sales/ Customer
EBIDT
FINANCE
Sales Per Sq. ft.:
Total Net Sales Sq. ft.
Manpower Cost as Percentage
GMROL (Gross Margin return on Labor)
Sales / Customer
Result of store Conversions and Cash Memo size
Total Net Sales Total Customers
Ensure each and every customer in the store is wished and greeted
Never show back to the customers and work while customers pass through the aisle
Ensure full options are at eye level display
Make the section easy for customers to browse. ( ticketing and promo communication
Usage of nesting table on new arrivals prominently near the aisle with bust on top of the
nesting table, biz from all the nesting tables to be monitored.
Ensure CSAs get the list of ratios on a weekly basis. E.g.... Shirts vs. ties, trousers vs. belts,
western wear top vs. bottoms, shirts vs. trouser etc., .
Ensure all the cut options are displayed in the last two racks with a tag mentioning as top
seller, display them size wise.
Schemes and promotions to be communicated to customers either by CSAs or by proper
signage's at eye level.
Section to be color blocked and size blocked always.
Ensure you know the details mentioned on the tag of a product.
Excess stocks should not be dumped on the floor.
All the impulse products are neatly displayed as its a velocity item ( in bulks)
When the store conversions are low following to be identified and addressed.
PRODUCT
Ensure CSAs on the floor knows the store completely.
Take CSAs store tour every month.( every one should know the store thoroughly).
Ensure signage's are customer friendly
Make customers spend more time in the store by various activity.
Identify the bottle necks and constantly remove the same. ( lead time to be analyzed in all
the area s)
Ensure sections are adequately lit
ANALYSIS
Compare your store brand wise piecewise with higher conversion store.
Analyze your own store brand/ sub class on higher conversion day vs. lower conversion day.
Ensure high selling brands have adequate space to move around and adequate manpower
to handle.
Ensure all the CSAs are trained in basic product knowledge (customers are
well informed). Analyze no of CSAs fully trained vs. new ones.
FINANCE
The power of 10 !!
90%
90
100%
100
110%
110
Gross Margin
27
30
33
Operating Expenses
25
25
25
EBIDT
% to planned profit
2.0
-60%
5.0
8.0
60%
Target
Net Sales
THANK YOU