...Job Evaluation Exercise 1. Evaluate the jobs and prepare a job structure based on its evaluation. Assign titles to each job, and show your structure and title and job letter. (This organization places a major emphasis on the important role of teams.) 2. Describe the process you went through to arrive at the job structure. You should also be prepared to discuss the job evaluation techniques and compensable factors used and the reasons for selecting them. 3. Evaluate the job descriptions. What parts of them were most useful? How could they be improved? 4. Questions: does the job evaluation method used appear to affect the results? Do the compensable factors chosen affect the results? Does the process affect the results? How? Job A Kind of Work Provide excellent customer service. Follow and comply with all applicable health and sanitation procedures. Prepare food items: sandwiches, slice deli meats and cheeses. Prepare items on station assignment list and as predetermined. Stock and rotate products, stock supplies and paper goods in a timely basis; keep all utensils stocked. Check dates on all products in stock to ensure freshness and rotate when necessary. Use waste sheets properly, as directed. Operate and sanitize all equipment in a safe and proper manner. Comply with and follow organizational safety procedures. Follow established Weights and Measures procedures. Answer the phone and pages to department quickly and with appropriate phone etiquette...
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...The skills you have, show what kind of a person you will be when working. The skills are split up into three categories which are employability skills, personal skills and communication skills. At Tesco’s merchandisers are really important people. They are responsible for ensuring that products appear in the right storm or on a website, at the appropriate time and in the correct amounts. This includes working closely with the buying teams to accurately forecast trends, plan stock levels and monitor performance. While the buyer selects the lines, the merchandiser decides how much money should be spent, how many lines should be bought, and in what quantities. In smaller companies, the same person may be responsible for both buying and merchandising. Merchandisers at Tesco play an important role, as profitability can be affected by how successfully...
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...promotion and advertising techniques. Merchandisers make sure that the product you like price is within your budget, colour of your choice and the store has a stock of the particular product. At Tesco’s merchandisers are really important people. They are responsible for ensuring that products appear in the right store, or on a website, at the appropriate time and in the correct amounts. This includes working closely with the buying teams to accurately forecast trends, plan stock levels and monitor performance. While the buyer selects the lines, the merchandiser decides how much money should be spent, how many lines should be bought, and in what quantities. In smaller companies, the same person may be responsible for both buying and merchandising. Merchandisers at Tesco play an important role, as profitability can be...
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...Walmart’s Foreign Expansion Walmart store Inc, is the largest retail company in the United States, has built its success on a strategy of everyday low prices and highly efficient operations, logistics, and information system that keep inventory to a minimum and ensure against both overstocking and understocking. Walmart began its international expansion in the early 1990s to grow their company’s commission. They first teamed in a joint venture with Cifra, Mexico’s largest retailer, to open a series of supercenters that sell both groceries and general merchandise in Mexico. Although they faced some challenges, such as understanding their culture and buying preferences, they quickly managed to change their marketing and merchandising strategies to meet the local conditions. As they built up their distribution systems in Mexico, the Mexicans started to change their shopping habits, and now Walmart is Mexico’s largest retailer and Mexico is considered to be the company’s most successful foreign venture. Walmart continued its international expansion by establishing operations in Europe and South Korea, however the company had less success. Consumers in Europe and South Korea, seemed to have a preference for higher-quality merchandise and were not as attracted to Walmart discount strategy as consumers were in United States and Mexico. Regardless of how, Walmart had greater success in China where they have learned to adapt the Chinese culture and changed their merchandise and operations...
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...Merchandising Mathematics for Retailing Chapter 7 - Inventory Valuation Spreadsheet: Retail Method of Inventory Valuation with Physical Inventory Summary Problem 2 AT COST: Opening Inventory Gross Purchases Returns to Vendors Net Purchases Transfers In Transfers Out Net Transfers Freight Total Merchandise Handled AT RETAIL: Opening Inventory Gross Purchases Returns to Vendors Net Purchases Transfers In Transfers Out Net Transfers Additional Markup Additional Markup Cancellation Net Price Revisions Total Merchandise Handled COST PERCENT CUMULATIVE MARKUP PERCENT Gross Sales Customer Returns Net Sales $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $89,760.00 $43,620.00 $860.00 $0.00 $0.00 $89,760.00 $42,760.00 $0.00 $760.00 $0.00 $760.00 $133,280.00 0.00% 100.00% $49,318.00 $2,945.00 $46,373.00 Markdowns Markdown Cancellations Net Markdowns Employee Discounts Total Deductions CLOSING BOOK INVENTORY AT RETAIL CLOSING BOOK INVENTORY AT COST PHYSICAL INVENTORY AT RETAIL PHYSICAL INVENTORY AT COST SHORTAGE OR OVERAGE SHORTAGE OR OVERAGE PERCENT Gross Cost of Merchandise Sold Maintained Markup Maintained Markup Percent Cash Discounts Alterations/Workroom Costs Total Cost of Merchandise Sold GROSS MARGIN GROSS MARGIN PERCENT $5,246.00 $318.00 $784.00 $4,928.00 $784.00 $52,085.00 $ 81,195.00 $ $ 53,672.00 $ $ 27,523.00 59.35% $0.00 $46,373.00 100.00% $320.00 $0.00 $320.00 $0.00 -$320.00 $46,693.00 100.69% $ 53,672.00 - 1 2 3 4 5...
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...Target Corporation Description of the company: Target Corporation operates general merchandise stores in the United States. As of January 28, 2012, the company had 1,763 stores in 49 states and the District of Columbia. The company’s segments include U.S. Retail, U.S. Credit Card, and Canadian. The U.S. Retail segment includes the company’s merchandising operations, including its integrated online business. The company offers both everyday essentials and fashionable, differentiated merchandise at discounted prices. Its online shopping site offers similar merchandise categories to those found in its stores, excluding food items and household essentials. The U.S. Credit Card segment offers credit to qualified guests through the company’s branded proprietary credit cards, the Target Visa, and the Target Card. Additionally, the company offers a branded proprietary Target Debit Card. The Canadian segment consists of leasehold interests in Canada that are purchased from Zellers, Inc. It owns leasehold interests in 189 Zellers sites. The company operates Target general merchandise stores, the majority of which offer an assortment of general merchandise and various limited food assortment than traditional supermarkets. The food assortment includes various perishables and various additional dry, dairy, and frozen items. In addition, it operates SuperTarget stores with general merchandise items and a line of food items comparable to that of traditional supermarkets. Target.com offers...
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...the lawn for a fee. He is selling a service. He may need to supply his own lawnmower, which is a cost of doing business. A maid sells the service of cleaning houses, but she may or may not need to bring her own cleaning supplies. After selling a service, there is no widget to pack up. MERCHANDISING COMPANY A merchandise business sells merchandise. Good examples of merchandising businesses include retail clothing, grocery stores and bookstores. Many people use the term "widget" to refer to any merchandise a business offers for sale when discussing business issues and dynamics. For example, a sale in which a customer receives two widgets for the price of one may refer to any type of merchandise. It could mean two pairs of shoes for the price of one or two boxes of pasta for the price of one. A merchandising company purchases inventory items to resell to customers. The company buys from several vendors and provides a central purchasing point where customers can purchase everything in one stop. The customer benefits by making one convenient stop for all her needs. Inventory represents the primary asset of a merchandising company. The typical financial transactions of a merchandising company include purchasing inventory, storing the inventory and selling the inventory to customers. These activities may occur in one or more accounting...
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...extremely large number of general merchandising stores open throughout the country, and many more opening daily because of the ease of entering into this market. After initial entry there are the struggles of high expenses, large amounts of needed capital, and low amounts of time that make it difficult to compete with well-known long standing competitors, but just because new entreats don’t become as successful as existing companies does not mean that the businesses do not get in enough to give the companies an extra challenge Bargaining Power of Suppliers There is Low Bargaining Power of Suppliers. General Merchandisers have a very large number of suppliers willing to stock their shelves, so if one supply does not meet their needs they have no trouble replacing them. Suppliers are forced to work with the companies in the General Merchandise market and cannot bargain to get what they want because they are too dispensable. Rivalry Among Current Firms High Rivalry Among Current Firms is found in the General Merchandising industry. Different competitors must pick things that they are good at to emphasize more and put less resources towards things that they are weak in, so that they can stand out in some area. The large amount of competitors makes it necessary to be the best in one area, so that shoppers come to you for that particular thing. Bargaining Power of Buyers There is Low Bargaining Power of consumers in the General Merchandising industry because there are way more...
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...In this research paper, the authors are describing the implementation of visual merchandising theory in a retail store. There are some matches between the findings on the research and the theory. The matches are some aspects we can find in the retail store, which are Store Layout, Exterior Design, Landscaping, Windows Display, Color, Lighting, and Signage. However, there are also some mis –matches in terms of new aspects that we can find in a retail store, such as Marquees, Banner, Props, and Technology Display. These mis – matches may exist due to the technology, information or factors that recently appear to match with the advance system, to use it to attract customer and encourage purchase action. The authors also explain that by having...
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...Job Analysis Regina Page Industrial/Organizational Psychology University of Phoenix Sales merchandisers in the retail industry are individuals who closely work with a buyer to ensure that the products maximize and achieve the business’s sale plan as well as to maintain the perfect balance of the company’s financial objectives and the customer’s expectations. Sales merchandising involves a sharp analytical mind for careful planning and strategy. This individual is instrumental in the decisions regarding the various lines that are purchased, the quantities needed, setting the retail prices to maximize profit, and inventory control functions that allow for a continuous flow of goods. A sales merchandiser is required to perform analysis and research. Monitoring the organization’s weekly or monthly sales trend of goods allows the merchandiser to determine the proper stock levels that are distributed to each of the company’s stores. Since most stores purchase their inventory from multiple suppliers, this individual must maintain proper lines of communication with suppliers in order to maneuver the appropriate inventory to meet demands. Since the primary goal of the merchandiser is to maximize profits, it is essential that the individual holding such a position to have certain attributes. These attributes are communication skills, analytical skills, computer literacy an innate ability to thrive under pressure. Communication skills will allow the merchandiser to effective...
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...structured clothing for the evolving Indian male. Its iconic Suits and Jackets to Khakis to DLT trousers, has gradually ‘liberated’ the Indian male in his quest for a fashion forward look. Today, Knits, Polos and fashion accessories are pushing the boundaries of a distinct Blackberrys ‘look’. Visual merchandising is the art and science of displaying and presenting product on the sales floor and in the windows with the purpose to increase store traffic andsales volume. Along with the store design, it is a key component of store’s unique identity and best form of advertising. Visual merchandising can be defined as everything the customer sees, both exterior and interior, that creates a positive image of a business and results in attention, interest, desire and action on the part of the customer. It includes the presentation of merchandise as well as other important, features that create the store’s overall atmosphere. Visual merchandising is directly involved in two-third of the entire process of converting a mere visitor into a buyer. The basic objective for visual merchandising is a desire to attract customers to a place of business in order to sell the merchandise.Through visual merchandising it is able to communicate to target customer brand’s identity, and what is unique and special about the offering and what makes this store better than other stores. Blackberrys Flagship Store- Bangalore Analysis of...
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...Chapter 2: Fashion Merchandising Organizations Chapter contents: 2.1 Introduction 2.2 Types of fashion merchandising organization 2.2.1(a) The buying agents 2.2.1(b) Store-owned buying offices 2.2.1(c) Cooperative buying offices 2.2.2 Independent trading companies 2.2.3 Offices of manufacturer-importer 2.3 The major service offered by a fashion merchandising organization 2.3.1 Private label programme 2.3.2 Group purchasing 2.3.3 Centralized buying 2.3.4 Other merchandising services 2.4 The major organizational structures for fashion merchandising activities 2.4.1 Functional division type 2.4.2 Product/market division type 2.4.3 Matrix organization type 1 Objectives After studying this chapter, you should understand the following: the various types of fashion merchandising organizations major merchandising services offered by these organizations the major ways to establish merchandising organizational structure Case Study The merchandising agent, Fashiontex, received a set of lab-dip (colour dyeing samples) from the supplier, for final confirmation as the pre-production standard in dyeing process. The team checked the samples with the original standard provided from its European buyer and found the sample very satisfactory. The colour shades submitted from the supplier were nearly 100 percent the same as the original ones. The team was very confident that the buyer would accept it and grant approval for bulk production. In normal procedure, the team would...
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...Executive Summary: Our report focuses on the “Application of Accounting in a Merchandising Business - Prime International Limited”. Accounting is important in business because it offers great support to management for planning, controlling as well as decision making process. It is with the aid of accounting information that the performance of a unit can be evaluated, at the same time as, its logical records make possible to get rid of the frauds and the thefts. The main interested parties for the company are stockholders who always want to know about the performance of his or her company. To prepare a financial statement, an organization must start its work from identifying recording, summarizing, and adjusting the transactions and at last preparation of financial statements. Accounting is important for businesses for several reasons. Effective record keeping helps a business survive efficiently all the while keeping track of the operations of the company. Background of the Study: The garments industry of Bangladesh has been the key export division and a main source of foreign exchange for the last 35 years. At present, the country generates about $6 billion worth of products each year by exporting garment. The industry provides employment to about 3 million workers of whom 90% are women. Two non-market elements have performed a vital function in confirming the garment industry's continual success; these elements are (a) quotas under Multi-Fibred Arrangement1...
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...Business and Administrative Communication Business communication plays a very important role in my day to day work activities, especially at the department store. Verbal communication is essential when it is time to receive a merchandising truck. On average, the truck contains over 500 boxes with various items in them. The truck has merchandise for every department within the store. The receiving department needs to communication to each department how many boxes they received so they can plan to store it, process it or move it to the floor. Without this small but important communication, a department can get backed up for the next truck in just a couple of days. When a department get behind in their processing it can affect our department for the next truck since we have a limited space for the merchandise. Communication between the departments is key to help keep thing moving smoothly. If not, it can hurt customer service. The technology used at the department store is top of the line. We have a device that can be used for nearly activity we perform from inventory, on hand count, pricing and customer pick up. It is the most important tool we used on a day to day basis. We are currently learning about the new devices which are iPod related. This will be interesting when we receive the devices, because we are hearing bad things about them through our new social media site. The department store has a new social media for the associates. It has different sites for each department...
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