programme

Advance Store Management

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Course TypeCourse CodeNo. Of Credits
Foundation CoreSVS1RM4014

Semester and Year Offered: 4th Semester (Winter Semester 2019)

Course Coordinator and Team: Nikhil Charak and External Experts

Email of course coordinator: nikhil@aud.ac.in

Pre-requisites: The course focuses on the Job Role related to Department Manager (Level-6) in a retail store as per the guidelines of National Skill Qualification Framework (NSQF). The course is meant to be offered to those who have specific knowledge and skills related to Sales Associate (Level-4) & Team Leaders (Level-5) offered in 1st year.

Aim: This course will enable them to gain the knowledge about the customer management and services. It also familiarises the students about the managing manpower, managing merchandise and health hygiene and safety.

Course Outcomes:

Student will be able to:

  1. Manage a budget in a retail store
  2. Monitor and manage store performance
  3. Demonstrate merchandise budgetary controls and inventory

Brief description of modules/ Main modules:

Module 1: Introduction to Merchandising

Principals of merchandising, position in store, first in traffic flow. Merchandise planning process, stock management, maximise retailer return on investment. Product standards. Merchandising strategy and merchandise mix, highlight issues with store management.

Module 2: Inventory Management

Inventory planning-Handling inventory: FIFO, LIFO,NIFO (different models). Store handling (backstore management), stock management, Inventory control, balancing inventory level.

Module 3: Budget preparation and planning

Preparation of budget, budget assumptions, review bottlenecks. Financial planning, available funding, step costing points, create budget block, obtain revenue forecast. Budget finalisation, issue block wide budget. Monitoring and control, analysis of revenue and expenses.

Module 4: Store Profitability and Retail Economics

Store profitability matrices, Analysing matrices and planning. Store, Inventory turnover, inventory process and cycle . GMROI, Breakeven point, Retail Math formulas, gross margin, cost of goods sold, contribution, margin. . Measuring retail performance and productivity, total net sales, sales per employee, gross sales

Assessment Details with weights:

S.No.

Assessment

Period of Assessment

Weightage

1.

Assignments (Project/written assignment/portfolio)

Within 1st Month of the course

Assignment 1 (20%)

 

Within 2nd Month of the course

 

Assignment 2 (20%)

 

2.

Class Participation

All through the semester

10%

3.

Simulation/Practical/Role Play

Within 3rd Month of the course

15%

5.

Personal Grooming and Hygiene

All through the semester

10%

6.

End Semester Exam

End Semester Exam

25%

Total

                                                                                                                                                100%

 

Reading List:

  1. Gibson, G. (2008, 3rd Edition). Retail Management – Functional Principles and Practices. Mumbai: JAICO Publishing House.
  2. Lamba, A. J. (2008) The Art of Retailing.2nd Reprint, A J Lamba, New Delhi: Tata McGraw Hill
  3. Levy, Michael, Barton A Weitz and Ajay Pandit. (2008). Retailing Management, 6thEdition. New Delhi: Tata McGraw Hill Publishing Co Limited.
  4. Nair, S. (2008). Retail Management. 3rd Edition, Mumbai: Himalaya Publishing House.
  5. Sinha, P. K. &Uniyal, D. P. (2012). Managing Retail.2nd Edition,Oxford University Press.