How can retail management be effective for a small/medium/large retail store format, especially when it has stores divided across different geographies? Unlike management in other industries, comparatively retail management faces a lot of challenges in this fast-paced and competitive environment.

Check Out : What Causes Retail Apocalypse?

A retail management system’s goal is to maximize productivity. Ensuring that employees are on the same pace of productivity regarding promotions and store operations can be a challenging process as the business expands.

4 Major Challenges in Managing Retail Store Operations

These challenges have spanned decades, collected from our interviews had with various stalwarts of the industry;

Management/Leadership Problems

Management is completely in the hands of the company’s owner(s). Without a prior experience in retail management, many wholesale retail store owners are the very reason their company fails. Managing on-going business policies, long-term strategies, adapting the technological advances etc. all these are interrelated and interdependent. Retailers should have the ability to spot, address problems and find an effective retail management solution to avoid halts in the business.

Work Management

Every Retail company requires careful maintenance of day to day operations to remain at peak performance. Retail Managers must be dealing with staffing issues, aligning staff people and their roles, conducting appraisals and performance reviews, providing or organizing training and development events etc. They expect a solution from which they can organize and accomplish these aspects in time.

Retailers may have challenges with team collaboration and sharing information across departments. Struggling with redundant tasks may eat away company’s productivity. Identifying inefficiencies within retail operations and maximizing efforts with collaborative work management is very important.

Multi-Store Management

When you are prepared to expand into a multi-store retail business, every retailer must be ready to manage Connectivity across all the stores, Cross-store operations, Data Synchronization of all stores, Multi-store reporting, New product launch activities etc.

A Retail Management Solution must be able to supervise a sizeable number of retail businesses to trim their costs, achieve higher productivity and deliver superior customer service.

New Product Launch

Managing the Physical Branding teams, Sponsoring and organizing events, Networking with the local business communities, Guerrilla Marketing campaigns etc. require a comprehensive retail management solution. In order to reach potential customers, from establishing the proper messaging and creating the assets to enable your sales and marketing team in momentum, there’s a lot that goes into putting together a solid new product launch activity.

The Retail sector has always brought with it some interesting challenges throughout history, and these challenges are resulting in ever more innovative solutions.Pazo can be used a solution to the challenges faced by the industry in managing Retail operations that will help you keep your Retail business on the path to success.

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Store is an important component of material management since it is a place that keeps the materials in a way by which the materials are well accounted for, are maintained safe, and are available at  the time of requirement. Storage is an essential and most vital part of the economic cycle and store management is a specialized function, which can contribute significantly to the overall efficiency and effectiveness of the materials function. Literally store refers to the place where materials are kept under custody.

Typically a store has a few processes and a space for storage. The main processes (Fig 1) of  store are (i) to receive the incoming materials (receiving), (ii) to keep the materials as long as they are required for use (keeping in custody), and  (iii) to move them out of store for use (issuing). The auxiliary process of store is the stock control also known as inventory control. In a manufacturing organization, this process of receiving, keeping in custody, and issuing forms a cyclic process which runs on a continuous basis. The organizational set up of the store depends upon the requirements of the organization and is to be tailor made to meet the specific needs of the organization.

          

Fig 1 Main processes of a store

Store is to follow certain activities which are managed through use of various resources. Store management is concerned with ensuring that all the activities involved in storekeeping and stock control are carried out efficiently and economically by the store personnel. In many cases this also encompasses the recruitment, selection, induction and the training of store personnel, and much more.

The basic responsibilities of store are to act as custodian and controlling agent for the materials to be stored, and to provide service to users of these materials. Proper management of store systems provide flexibility to absorb the shock variation in demand, and enable purchasing to plan ahead.

Since the materials have a cost , the organization is to manage the materials in store in such a way so that the total cost of maintaining materials remains optimum.

Store needs a secured space for storage. It needs a proper layout along with handling and material movement facilities such as cranes, forklifts etc, for safe and systematic handling as well as stocking of the materials in the store with an easy traceability and access. It is to maintain all documents of materials that are able to trace an item , show all its details and preserve it up to its shelf life in the manner prescribed or till it is issued for use. Store is to preserve the stored materials and carry out their conservation as needed to prevent deterioration in their qualities. Also store is to ensure the safety of all items and materials whilst in the store which means protecting them from pilferage, theft, damage, deterioration, and fire.

The task of storekeeping relates to safe custody and preservation of the materials stocked, to their receipts, issue and accounting. The objective is to efficiently and economically provide the right materials at the time when it is required and in the condition in which it is required. The basic job of the store is to receive the materials and act as a caretaker of the materials and issue them as and when they are needed for the activity of the organization.

Once the material has been received and cleared through inspection and accepted for use, it needs safe custody of the stores. The role of custody is to receive and preserve the material. A stage comes when the material is needed for use. Store at that time releases the material from its custody to the user department and the process is called ‘issue of goods. It might also happen that after partial use , some materials having useable value in future are returned to the store and thus they also become part of the custody again.

Storekeeping activity does not add any value to the materials. In fact it adds only to the cost. The organization is to spend money on space (expenditure on land, building passage and roads), machinery (store equipment), facilities (e.g. water, electricity, communication etc.), personnel, insurance, maintenance of store equipment,  stationary etc. All of these get added to the organizational overheads and finally get reflected in the costing of the finished product. However, it is an essential function in any organization.

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A professionally managed Stores has a process and a space within, to receive the incoming materials (Receiving Bay), keep them for as long as they are not required for use (Custody) and then to move them out of stores for use (Issue). In a manufacturing firm this process forms a cycle to maintain and run the activities of Stores. The basic responsibilities of stores are to act as custodian and controlling agent for parts, supplies, and materials, and to provide service to users of those goods. Typically and at times essentially, a Stores has to follow certain activities that are managed through use of various resources and are thus called Stores Management. The task of storekeeping relates to safe custody and preservation of the materials stocked, to their receipts, issue and accounting. The objective is to efficiently and economically provide the right materials at the time when it is required and in the condition in which it is required. The basic job of the Stores Manager hence is to receive the goods and act as a caretaker of the materials and issue them as and when Production demands it. Needless to say storekeeping activity does not add any value to the product. In fact it only adds to the cost. The organization has to spend money on space ie. expenditure on land, building and roads, equipment, machinery and other facilities provided such as electricity, people i.e. salaries and wages, insurance, maintenance costs, stationary, communication expenses and the cost to maintain the inventory etc. All of these get added to the organisational overheads and finally get reflected in the costing of the finished product. However, it is an essential function in any manufacturing or marketing organization. This basic reason has propelled the evolution of philisophies such as JIT, JIT II etc. Thus , the basic functions , to manage a stores, carried out are: Receiving of incoming consignments (goods) Safe keeping of goods (Custody) Disposal of undesirable goods Inventory Management House keeping and record maintenance It all starts with a suitable Lay out design of stores. Depending upon the nature of items used for  processing by the organisation the lay out and type of stores are selected. For example , a process that requires use of raw materials , not costly enough, an open and nearby stores with  truck / rail inside movement possibility can be adequate. Similarly, for storing costly material, a closed and restricted type of stores shall be needed. However, irrespective of the type and lay out , any Stores would have , as its starting activity , receiving and accounting of the incoming goods. This part of Stores is known as Receiving Bay.

The basic introduction on store management by Tutorial Point (India) PVT. LTD.

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The Object of store..

The basic Introduction...