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Store Manager

a mini CEO:
Understanding
Roles &
Responsibilities

What according to
you is the role of a
CEO ??

Mini CEO - Roles & Responsibilities

CUSTOMER

PEOPLE

PROCESS

FINANCE

CUSTOMER
Customer Satisfaction
Customer Loyalty program
Customer Adoption (Know your BIG
customers)
Customer recovery process
Customer listening program (FGDs)

CUSTOMER

The Golden Rule


Always think:
How will it affect my customer? If I was in the
customers place, how would I feel?
What do you see?
What dont you see
Is everything clearly marked?
Is there someone to help you?
What do you like?
What dont you like?
What would you like to change

CUSTOMER
Customer Satisfaction
Make customers feel comfortable by paying attention
to every detail of the experience

Customer Listening Program (FGDs)


Understand the customers concern in an
environment which facilitates open talk

Customer Loyalty Program

Religiously make more loyalty members for long term


relationship (Shopper Stop-72%, Lifestyle-55%)
Relationships are the essence of customer service.
Service = Sell Relationships

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

Customer recovery process


Speedy customer complaint redressal
e.g: First customer in MM Forum value mall.

Attractive displays , Convenient floor plan &


world class ambience are key to success
I am willing to pay more if am comfortable Customer
e.g. Volvo buses, Multiplexes, DTH, Lifestyle, Shoppers Stop,
Central, Exclusive Brand stores

Kids section - Before

Kids section - After

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:

Evaluate teams performance on weekly basis


Enable them to function smoothly by addressing the
roadblocks
Act as a mentor not as a Boss

PEOPLE

Listening (FGDs)
Involve

frontline staff in Problem Solving as well as


Execution
Store managers should establish formal store-level
processes that allow staff to capture an evaluate ideas
AI Research

Acting

Act on what you listen !!

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

Operational Effectiveness involves breaking down


processes into sufficient detail and identify root causes
for poor performance
Hours
Per
Core Process week
Merchandise
Flow

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

. Put up and remove


. Maintain
. Audit

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

Provides detail to quantify


And value savings

Applying the Operational Effectiveness tool


LEAN production to Checkout process

Checkout
overcapacity

Long
Checkout Lines

Cashier
Supply

Checkout Demand

> Cashiers were staffed based


on gut feel of the expected
workload
> There was limited
assessment of checkout
productivity and customer
service
> A mismatch existed between
supply and demand, which
resulted in
- Low productivity
- Pockets of poor service
- Checkout overcapacity

> Checkout is now viewed as


core process across
departments to facilitate
flexible staffing
> Staffing needs are analyzed
day by day, hour by hour,
based on queue length rather
than throughput
> Explicit overall and individual
productivity and service
targets were established

RESULT

> Checkout was viewed as a


key function

AFTER

BEFORE

Long checkout lines

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.

Compliance to statutory requirements


To ensure the all the statutory requirements and fees,
licenses, etc.. are maintained and updated on regular
intervals as required.

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

Tips to increase Conversion

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

Since operating expenses are fixed, the margin - even a 10%


drop in sales could result in a loss to the
Company similarly, a 10% increase in sales would fetch the
company good returns.

THANK YOU

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