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HARSHA TAINWALA
Future Group is India’s leading
business group that caters to the
entire Indian consumption space led
by Mr Kishore Biryani incorporated in
1987 Headquarters in Mumbai
Future Group operates through six
verticals:
Future Retail
Future Capital
Future Brands
Future Space
Future Media
Future Logistics
Objective of the Research
The project is mostly related to reduce the shrinkage,
and damage and defects (DAD) in the Big Bazaar
stores. Following are the objectives of the project –
Types of shrinkage:
Cashier error –cashier error may also lead to shrinkage. For e.g. –while
Wrapping the merchandise cashier does do billing of merchandise
because in hurry he forgets one or two
Employee dissatisfaction and irresponsible
behaviour.
Improper handling of electronics products
Specialized person for the demonstration. For
example, it is observed that the person who is
assigned to one department was giving
demonstration of products from alien department
to the customer and mean while damaged the
product.
Improper warehouse keeping.
Technical issues in electronics items, especially in
Koryo Electronics which is the home brand of
Future Retail Ltd
Be Clear About Your Theft Policies
Core areas to reduce shrinkage:
1. Customer
2. Employees
3. Warehouse
4. Emergency Response Plan
Size of the warehouse should be increased.
Security staffs should be changed weekly in
the warehouse
Not all employees/respondents are
comfortable in sharing information.
Store manager may be biased towards store
employees.
Manual errors during data entry and stock
count.
Due to work load respondent may not provide
in depth and accurate information
The highest shrinkage with respect to
amount/price is occurred in the fashion category
People prefer to shoplift luxury items or the items
which have high maximum retail price (MRF)
For damage and defects, generally it occurs at
manufacturing end (especially for fashion
category), warehouse level (due to improper
handling, over stacking of boxes or cartons in
warehouse) and at store level (when customer try
to use garments in trial room, taking
demonstration of electronics items).