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NEW ZEALAND RED CROSS

RETAIL SHOP
Inventory Management

Submitted by: Rakesh Kumar (15430235)


BIBM 789 Industry Project
Graduate Diploma in Operations and production Management
Submission

Date: 16 Nov. 2015

Background:
Red Cross shops began in the WWI, with the first shop opening in Cathedral Square
on 1 June 1915. There are presently 53 Red Cross shops in New Zealand, which are
staffed by 1,400 volunteers. The shops offer second hand merchandise and all the
cash raised is utilized to subsidize New Zealand Red Cross operations.
Red Cross shop in Victoria Street, North end of Hamilton is a contemporary retail
location stocking awesome quality attire for ladies, men and youngsters, homewares
and general family unit things. It is giving incredible quality gave things with just as
extraordinary client administration for the neighborhood group. New Zealand Red
Cross has been a piece of the fabric of our nation for almost a century.
A large portion of the all around developed brands, fabrics and styles last the
separation. For others, a little love, care and sewing aptitudes can change them to
new once more. There is dependably the shot of discovering something one of a
kind and unique at Red Cross as new things are given each day. Red Cross has
additionally picked up backing from huge brands, for example, Country Road and
Pumpkin Patch who give old stock and additional stock.
Red Cross shops have advanced throughout the years centering consideration on
making a shopping knowledge for the client parallel with high road/business retail. It
center a considerable measure on guaranteeing our 1100 volunteers are retailprepared so the client has a warm, cordial and welcoming background with Red
Cross. Volunteers are an astounding gathering of individuals, who are the substance
of Red Cross in every suburb/town we work in.
Individuals basically drop gifts off amid shop hours or call nearby shop to orchestrate
a gathering administration. It offers a get and conveyance administration in
Auckland, Hamilton, Tauranga, Gisborne, Palmerston North, Wellington and Nelson.
With a specific end goal to occupy materials far from landfills and raise cash for the
group, Fashion Trade rewards clients for giving pre-adored Country Road attire and
assistants to Red Cross shops.
Give pre-cherished Country Road things to neighborhood Red Cross shop and it
gives a $10 rebate card that can be reclaimed in a Country Road store with a spend
of over $50.

Literature Review :
Retail business requires keeping up a stock, Not having enough stock means you
run the danger of losing deals, while having an excess of stock is unreasonable in a
bigger number of routes than one. That is the reason having a productive stock
control framework is so imperative.
KEY ROLES IN STORE ENVIRONMENT
The retail location is of prime significance to the retail start, for two reasons.
The retail location is the essential wellspring of income for the retailer and
It is the point where the client really interfaces with the retail location and its
offerings.
The essential obligation inside of nature of a retail location lies with the store
supervisor. The store director needs to assume a double part in retail environment.
On one hand, he is in charge of the different individuals from the staff and group who
report to him and empower the smooth working of the daytoday operations of the
store. Then again he additionally needs to guarantee that the approaches and the
rules as set around the administration, are held fast to by the store and all
representatives inside of the store .ordinarily, the store administrator is in charge of
the considerable number of exercises that are directed inside of the environs of the
store and would incorporate the opening of the store on time, planning of staff,
cleanliness, guaranteeing satisfactory stock on the floor, shutting of the store
furthermore managing the client grievances and dissensions. While the store
supervisor may not actually perform every one of these capacities, he would be in
charge of the undertakings being performed. In this manner there may be different
people who handle these assignments, however the general obligation of
guaranteeing that they are executed according to the rules set around the
organization, rests with the store chief. Along these lines, if one somehow managed
to enrolls the obligations of the store chief, they would include:

BUDGETING AND PLANNING

Ensure that the objectives are met through proper arranging and association

of staff, stock and costs, for short and long haul victory.

Monitor a misfortune anticipation proagram to ensure the organization's stock

and resources.

Develop and screen the capital costs spending plan to guarantee that the

store is appropriately kept up and overhauled to meet the high support gauges that
mirrors the gainful picture .

COMMUNICATION

Communication with the local office/head office according to the prerequisites

set around the association with reference to deals, target client administration,
occasions and neighborhood issues.

Hold staff gatherings to support worker resolve and drive for accomplishing

the outcomes required.

Ensure the organization arrangement and systems are imparted in a way and

stuck to entirely.

Motivate and create staff with a specific end goal to support their expert

improvement.

CUSTOMER SERVICE

Instill the workers, the significance and significance of client administration as

sketched out in the retail logic.

Promote and screen the nature of administration among the staff through

acting so as to prepare and as positive good example.

Be actually accessible to every one of the clients to convey and indentify their

needs and to address their inquiries or concerns.

PERSONAL

Inspire workers so that every individual adds to the profitability of the store.

Delegate the work stack properly and compelling.

Write execution assessment and objective appraisals for the Assistant Store

Manager.

LEGAL COMPLIANCE

Ensure that the store is in consistence with business laws, including those in

regards to wage and hour, human rights and equivalent livelihood opportunities.

Maintain safe working conditions for the representatives and clients coming in

the store, resolve any wellbeing concerns rapidly.

Ensure store security from inner and outside burglary and become acquainted

with the best possible fear and arraignment methods for your state.
The other essential position inside of the retail location environment is that of a
Cashier. The Cashier in the retail location is a man who fundamentally, is
dependable executing the trading of the cash or credit with the clients consequently
for stock or administrations. The clerk in a retail location is in charge of charging,
gathering of money, Visa, outside cash, and explorer's checks or a blessing voucher.
1. STORE ADMINISTRATION AND MANAGEMENT OF PREMISES: Management
of premises Managing the operations of a retail location begins by deciding how the
assignments relating to the premises are to be performed. Firstly, the term of the
hours for business should be resolved. It is additionally important to determine with
whom the obligation of opening and shutting the store lies with.
2. Overseeing INVENTORY AND DISPLAY: The assignment of allotting the stock to
the different stores, more often than not rests with the stock administration group or
the classification administrator as the case may be. As the store, the store staff deals
with this stock. To empower them to work effectively, the complete technique for the
treatment of stock at the store level should be reported
3. Overseeing RECEIPTS: Managing receipts includes characterizing the way in
which the retailer is going to get installment for the deals. The most widely
recognized technique for accepting installments for merchandise sold in India is with
money or with Visa. While the greater part of the substantial retail locations would
acknowledge both of the above types of installment, a little neighborhood retail
location may acknowledge just money installments. Different methods of getting
installment are by method for check or a charge card. A few stores additionally have
a cobranded card, which can be utilized for installment
4. Client SERVICE : The client administration arrangement to be embraced by the
retailer is settled on the top administration. This is really put into practice by each

individual working inside of the retail location. Client administration does not need to
start and end at the client administration counter in the retail location. Every
individual on the floor of the retail location can guarantee that the client interacts with
him or her is agreeable and has a lovely shopping knowledge. This is something
which must be soaked up in them, and this must be a top down methodology.
5. Overseeing advancements

: occasions, and

association Events and

advancements are all that much piece of retail showcasing scene. With a specific
end goal to empower the accomplishment of an occasion or an advancement, it is
essential that the store where the move is to make spot intended for the same. This
may require procuring of extra staff, working existing staff in movements .
Purpose :
1.To check the growth and development of organized retail sector in New Zealand.
2.To know the how inventory is managed in retail shops.
3.To know the challenges faced by the organized retail sector to manage inventory.
4.To make some suggestions to overcome the challenges of organized retail sector.
Scope:
In todays world every business tries to strike a balance in inventory between what is
needed

and

what

is

demanded,

considering

the

major

factor

of

cost

cutting/reduction. This control is called Inventory management or inventory control.


Inventory is basically assets (goods and materials) which are stock of any business.
Inventory management focus on the capacity of the inventory, the place in which it is
located so that one can use it when needed, the supply chain management of the
raw materials and goods. Inventory management deals with the demand
forecasting, asset management of the raw materials and goods, inventory
carry cost, forecast, pricing of goods, validation of goods, to forecast the
demand of future. This helps the top level manger to understand and coordinate
with the supply chain management or production management, and quality
management.
Method:

Methodology The research represents based on the secondary data, includes


interaction with retail manager and customers, online database, books, journals,
conference papers etc. Widespread research papers and conference papers have
been appraised from International Journals such as PROQUEST, EMERALD,
EBSCO, IEEE etc.
Limitations:

This study will be limited to one retail shop.


There is one manager who handles the retail store as well as storage house.
This study will not cover the latest techniques of inventory due to size of
business and cost of study.
Rakesh Kumar
15430235

http://www.clearlyinventory.com/inventory-basics
https://en.wikipedia.org/wiki/New_Zealand_Red_Cross
https://en.wikipedia.org/wiki/Inventory
http://www.entrepreneur.com/article/228008
https://d30fzr2520l6g5.cloudfront.net/archive/Vend_Inventory_Management_Guide.p
df
http://www.managementstudyguide.com/inventory-management-in-retailing.htm
http://smallbusiness.chron.com/inventory-management-small-retail-clothing-store26214.html
http://www.yourarticlelibrary.com/retailing/inventory-management-in-retailstore/48143/
https://www.xero.com/small-business-guides/business-management/inventorymanagement/
https://www.shopify.co.nz/inventory-management

https://en.wikipedia.org/wiki/Stock_management

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