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WHOLESALING
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NAME
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BINGO
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BREAK
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RETAILING
What is retailing?
Retailing can be defined as the buying and selling
of goods and services. It can also be defined as
the timely delivery of goods and services
demanded by consumers at prices that are
competitive and affordable.
The term 'retail' is derived from the French word
retailer which means 'to cut a piece off or to
break bulk'. In simple terms, it implies a first-hand
transaction with the
customer.
Types of retailers
Amount Of Service
Offering one of the four level of service:
Self Service
Limited Service More sales assistance because customers need more
information
Full service Retail Provides sales
personnel who are ready to assist in
every phrase
Superstores
Supercenters much larger than regular
supermarket & offer large assortment of
routinely purchased food & non-food
products plus Services (GIANT)
Category killer Giant specialty store
that carries a very deep assortment
of a particular line (Toy R Us)
Hypermarkets Huge Superstore
(Tesco, AEON BIG)
Organization
Relative prices
WHOLESALI
NG
What is wholesaling?
Wholesaling is a distribution channel
function where one organization buys
products from supplying firms with
the primary intention of
redistributing to other organizations
(but, in general, not to the final
consumer).
Channel of Distribution
Types of wholesalers
Types of wholesalers
Retail
Marketing
Mix
WHO AM I?
47
FORECASTING
Forecasting
Forecasting is the process of making
statements about events whose actual
outcomes (typically) have not yet been
observed
ChallengesRetailersfacein
Forecasting
1. Scale of problems - (Large number of
items & stores to forecast)
2. Intermittent demand - (slow and erratic
sales for many items at the store level)
3. Assortment instability - (frequent new-item
introductions and seasonal assortment
changes)
4. Pricing and promotional activity - (frequent
new-item introductions and seasonal
assortment changes)
Forecastingandrevenueoptimisation
Forecastingandreplenishment
A good replenishment policy takes into
account the uncertainties of supply and
demand, and makes store-level inventory
less dependent on a highly accurate
forecast
DemandForecasting
Demand forecasting is the activity of estimating the
quantity of a product or service that consumers will
purchase
Demand forecasting involves techniques including both
informal methods, such as educated guesses, and
quantitative methods, such as the use of historical
sales data or current data from test markets
Demand forecasting may be used in making pricing
decisions, in assessing future capacity requirements,
or in making decisions on whether to enter a new
market
FocusForecasting
It
OneofFocusForecastingmethoddevelopedby
BernieSmith
Conclusion
Forecasts will never be perfect, and sometimes they may not
even be very good
The goal of forecasting in retail should not be a foolish pursuit
of perfection, but to generate forecasts that are as accurate
and unbiased as we can reasonably expect them to be, and to
do this as efficiently as possible
Large-scale automation helps solve the problem of generating
forecasts at granular levels of detail (such as store, item or
week)
However, there must still be a realistic assessment of the
likely accuracy of forecasts at that level, and consideration of
other strategies that can be used in conjunction with
forecasting to best solve the business problem