Target Corporation Supply Chain And Project Management Strategy

The History of Target Corporation

Target Corporation began in 1902 as the Goodfellow dry goods store in Roseville, Minnesota under the tutelage of George Dayton. As the business grew and there became more of a need for presence of stores who c a r r i e d c o n s u m e r p r o d u c t s , t h e n a m e o f t h e s t o r e c h a n g e d t o D a yt o n C o m p a n y. T h i s w a s a f a m i l y o w n e d a n d o p e r a t e d s t o r e w h o s e p r e s e n c e was heavily felt in the community by their generosity and commitment to charitable activities as well as T h e f i r s t t a r g e t s t o r e o p e n e d u p i n 1 9 6 2 a f t e r t h e D a yt o n C o m p a n y went into the discount shopping business. In the grand scheme of things, t h e i d e a b e h i n d t h i s c o m p a n y s m o d e l w a s t o o f f e r q u a l i t y n a m e b r a n d merchandise in its own store at a low price. This shape the consumer b u yi n g b e h a v i o r b e c a u s e t h e m a r k e t i n g m i x t h a t t h e n o w T a r g e t S t o r e s u s e d a n a l yz e d t h e n e e d s o f t h e c u s t o m e r , w h a t t h e y w a n t e d , w h e r e t h e wanted it and how they bought it. O v e r t h e ye a r s , T a r g e t h a s a c q u i r e d m a n y o t h e r t h r i v i n g r e t a i l s t o r e chains, with the first one being J.L Hud son in 1969, Mervyns in 1978, and Marshall Fields in 1990. The acquisitions proved successful making Target the 7th largest retailer in the US at that time. Being that Target was expanding not only as a store but a corporation, it was only fitting that Target change its name to Target Corporation in 2000. Prior to this change, Target was expanding its store division as a rapid pace. This all

came about due to an increase in revenue, the need improve the way department store were revolutionized, and for a better control of nventory management.