My Mommy's Recipes

Salam... Hi all...

I added a new link about my mom's recipes for you guys to try. I know that most of you live outside the campus and have to cook yourself... I just put in the first recipe.. easy and fast.. Try it ok... http://www.mymommysdish.blogspot.com/

I'm going to pursue my studies, insya Allah next year as soon as I get everything settled (my application, my proposal and stuff) so I might not be seeing you guys for quite a while... maybe for 4 years... Pray for me and Ill always root for you guys ;o) Amin...

Keep in touch and do support this blog for further knowledge updates.. ;o)

Meeting... Sri Cempaka, Kuala Lumpur

Salam..... Good morning

I'm in Sri Cempaka, Kuala Lumpur attending a meeting. Please study and I'll see you next week. Enjoy the Eid ul Adha and take care. Miss you all and take care...

DRM 3 - Excecise Questions

Chapter 1

Q1: What are five (5) the roles of a store?

Q2: How does a store location is determine?

Q3: What is the key factor for store success in terms of image?

Q4: What are the purpose of store design?

Q5: Why do retailers need the external store?

Q6: List five (5) aspects of external store.

Q7: List five (5) requirements of external store.

Q8: List five (5) attributes of internal store.

Q9: What is the purpose in internal store.

Q10: What are two (2) effects store layout has on shoppers buring behavior?

Q11: List five (5) methods of store layout.

Q12: List one (1) advantage of each layout (refer to Q11)

Q13; List two (2) types of store display.

Q14: Describe visual merchandising.

Q15: List six (6) internal store signage functions

Q16: List five (5) internal store elements that contribute to creating the store's atmospherics.

Chapter 2

Q1: List two (2) types of retail information technology categories.

Q2: What are the three (3) main ares retailers need to consider before adopting any kind of information technology?

Q3: List seven (7) benefits of information technology.

Q4: List three (3) benefits of e-tailing.

Q5: What is an interactive kioks?

Q6: Describe supply chain.

Q7: Describe primary marketing institutions.

Q8: Describe facilitating marketing institutions.

Q9: Describe direct supply chain.

Q10: Describe indirect supply chain.

Q11: List three (3) kinds of supply chain width.

Q12: Describe conventional marketing channel.

Q13: List two (2) advantages of conventional marketing channel.

Q14: Describe vertical marketing channel.

Q15: List two (2) advantages of vertical marketing channel.

Q16: Draw the marketing channel pattern.

Q17: Describe corporate vertical marketing channels.

Q18: Describe contractual vertical marketing channels.

Q19: Describe wholesaler-sponsored voluntary groups.

Q20: Describe retailer-owned cooperatives.

Q21: Describe franchise.

Q22: Describe administered vertical marketing channels.

Q23: List three (3) advantages of technology in retail sector.

Q24: List three (3) groups of technological innovations.

Q25: What are the long version of these acronym; QR, JIT, ECR, DSD, CPFR

Q26: What do retailers use nowadays to increase customer satisfaction?

Chapter 3

Q1: List the seven (7) areas of decision making in merchandising management.

Q2: What are the "rights of Merchandising" according to Angie Tang and Sarah Lim?

Q3: List fifteen (15) typical buying process according to Angie Tang and Sarah Lim.

Q4: List eight (8) sources of information needed by retailers to avoid buying and stocking inappropriate merchandise.

Q5: List six (6) guidelines on what and how much to buy merchandise.

Q6: Name the plan used in determining on how much to buy each month.

Q7: List the seven (7) elements of concern in the plan.

Q8: List the twelve (12) factors in selecting new or retaining existing suppliers.

Q9: When do retailers buy their inventories?

Q10: According to Angie Tang and Sarah Lim, how do retailers analyse their merchandise performance? (clue: 2 ways)

Note: Excercise questions for Chapter 4-6 will be posted soon. So, for Thursday's (12 Nov 09) activities will focus mainly on these questions.

DRM5 - P4720 (RETAIL OPERATION 2)GMROI and ABC ANALYSIS

Notes : By Swapna Pradhan (Retailing Management 2nd Edition)



Gross Margin Return on Investment (GMROI) Concept

Many retailers use the performance indication of gross margin % (after mark down) and weeks cover to measure performance. While the gross margin % is a measure of the relative profitability without taking into account, the costs of stockholding investment. Week's cover tells us how effectively, the stock was turned without informing us about the relative profitability. What is needed is a measure that combines these two indicators into an indicator of real profitability.



GMROI is calculated as gross margin/average inventory cost

GMROI is a merchandise planning and decision making tool that assist the buyer in identifying and ecaluating whether an adequate gross margin is being earned by the products purchased as compared to the investment in the inventory required to generate the gross margin. It focuses the buye's attention on return-on-investment rather on sales as a basis for the merchandising decisions. The focus is on SKU's (stock keeping units) of each individual products rather than department totals and it helps identify product "winners" and core products.

Product winners are those products which perform well, which boost profitability and are the best-return-on-investment products. Core products on the other hand, are the buyer's list of existing winners that can never be out of stock. They're the mostvaluable products in terms of high profitability and their excellent return on investment.

Gross margin is the value of sales less the cost of goods sold. Increasing gross margin entails increasing the sales revenue or reducing the cost of the merchandise. The obvious way to increase sales revenue is simply to increase prices. Unfortunately, in a competitive environment, things are not so easy. The recommended approach is to avoid products that are known value items or those that your competitors focus on for price comparison. Merchandise managers who can effectively inter-relate gross merchandise management and inventory turnover management will be able to achieve high performance results.



ABC Analysis

Pareto (ABC) Analysis (a.k.a 80/20 rule)

ABC Analysis rank orders merchandise by some performance measure to determine which items should never be out of stock, which items should occasionally be allowed to be out of stock and which items should be deleted from a stock selection. An ABC Analysis can be done at any level of merchandise classification , from an SKU to a department.

ABC Analysis utilises the 80:20 priciple, which implies that 80% sales come from 20% of the products. The first step in the ABC Analysis is to rank order SKUs using one or more criteria. The most important performance measure for this type of analysis in contribution margin.



Contibution margin = net sales - cost of goods sold - other variable espenses.



Other variable expenses can included sales comissions.

( l'll include the pareto graph in print form)

The next step is to determine how items with different levels of profit of volume should be treated differently. the buyer defined as A those time that account for 5% of items and represented 70% of sales. B items represent 10% of items and 20% of sales. C items account for 63% of the SKUs but contribute only 10% of sales and D represents those items for which there were no sales in the past seasons.

DRM5 -P4720 Take Home Test

Instructions:
1. Print out these questions.
2. Please do this test by yourself and turn it in in written form.
3. Turn it in at 9 November 2009 before 1.30pm

Question 1
As a store manager, how would you produce a suitable store format for a boutique? (35 marks)

Question 2
As a store manager, list and describe your duties. (15 marks)

Question 3
As a store manager, list the steps before hiring a vendor. Suggest negotiation procedures with your vendors. (15 marks)

Question 4
List the promotional tools discussed in class. Justify which of the promotional tools is suitable for your boutique. (15 marks)

Question 5
Describe ABC Analysis on merchandising. (20 marks)

All the best and you may use all the resources around you. Be creative and innovative whenever suitable for you to do so.
Late submission will not be tolerated.