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Lecture Retailing in the 21st Century - Chapter 5: Creating internal systems

Lecture Retailing in the 21st Century - Chapter 5: Creating internal systems. This chapter presents the following content: Merchandise functions, operational functions, marketing and promotional functions, safety and security functions, basic personnel functions. | Ch. 5: Creating Internal Systems Merchandise functions Operational functions Marketing and promotional functions Safety and security functions Basic personnel functions This is the overview of topics at the beginning of Chapter 5. Creating Procedures For Merchandise Functions Buying Receiving Pricing and ticketing Placing merchandise on sales floor Processing special orders Reordering Restocking Making markdown decisions Every piece of merchandise should enter the store with a well thought out plan for tracking it from the moment it is ordered until it leaves in the hands of a happy customer who has just paid for it! Creating Procedures For Operational Functions Opening and closing the store Accounting for cash Dealing with the alarm Processing sales Accepting credit cards and checks Processing merchandise returns Taking cash readings Analyzing inventory and sales Managing fixtures and supplies These are the myriad “little details” that tend to trip people up in retail. Write them . | Ch. 5: Creating Internal Systems Merchandise functions Operational functions Marketing and promotional functions Safety and security functions Basic personnel functions This is the overview of topics at the beginning of Chapter 5. Creating Procedures For Merchandise Functions Buying Receiving Pricing and ticketing Placing merchandise on sales floor Processing special orders Reordering Restocking Making markdown decisions Every piece of merchandise should enter the store with a well thought out plan for tracking it from the moment it is ordered until it leaves in the hands of a happy customer who has just paid for it! Creating Procedures For Operational Functions Opening and closing the store Accounting for cash Dealing with the alarm Processing sales Accepting credit cards and checks Processing merchandise returns Taking cash readings Analyzing inventory and sales Managing fixtures and supplies These are the myriad “little details” that tend to trip people up in retail. Write them out so that all employees can refer to them and understand what is expected of them. Creating Procedures For Marketing Functions Presenting the merchandise Planning a marketing calendar Creating a selling system There should be store rules for who is responsible for displays, and how each customer is to be approached. A calendar will ensure that regular events are scheduled – sales, promotions, advertising, and so on. Creating Procedures For Safety and Security Functions Preventing shoplifting Preventing employee theft Preventing administrative and paperwork errors Putting rules and policies in writing Checking rules and policies with an attorney Some safety and security rules also include drug use policies, prohibitions on weapons (guns, knives, etc.) in the workplace, and procedures in case of armed robberies. Creating Procedures For Personnel Functions Basic employment policies (scheduling, breaks, vacations, sick leave, flextime, etc.) Employee benefits Putting rules and policies in writing Checking rules and policies with an attorney Posting rules and policies as reminders Discussing and updating with staff input as needed Many of these items should be put in writing in an Employee Handbook. Every employee should be required to read the handbook and sign a statement that they understand and agree to its contents.