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TRAINING for Strategy > Retail Management Processes

Retail Management Processes

Retail industry is evolving very fast in India. Retail means a first-hand transaction with the customer. It can also be defined as the timely delivery of goods and services demanded by consumers at prices that are competitive and affordable. Retailing involves a direct interface with the customer and the coordination of business activities from end to end. Retail operations enable a store to function smoothly without any obstacles. The industry has contributed to the economic growth of many countries and is undoubtedly one of the fastest changing and dynamic industries in the world today.

The retail industry faces challenges similar to those in other industries. With a fast-paced society and faster-paced technological changes, customers want new, different, and customized goods now, and they're not willing to wait. Main critical processes are human resources, general ledger, inventory, supply chain management and merchandising. The company will miss business opportunities if these processes were not streamlined and well-aligned with each other and offer the flexibility necessary for creating a much-needed effective supply chain process.

There is a huge demand for talent and trained man power. Retailers are facing increasing competitive pressure to implement innovative in-store solutions that create differentiation through an enhanced customer experience. They also face a need to minimize the technology infrastructure investment required within the store. Today’s retailers are under pressure to provide a more seamless customer experience across multiple channels. Fragmented customer interactions result in a high cost of sales and service. Some other obstacles are poor employee productivity, limited flexibility, duplication in maintenance of processes and systems. All these result in presentation of an undifferentiated value proposition to customers.

Retail sector forms a very strong component of the service sector. It is a one of the largest sectors in the global economy and is going through a transition phase. The fast changing retail environment demands that professionals learn new skills, improve their efficiency, learn to compete and think out of the box. Since retailers work directly with customers and there is a need for good managerial talent to interpret and satisfy the needs and desires of customers. All this requires an education that is thorough, wide-ranging and closely linked to the retail business world. The need is to have a program which has all the inherent features of a business management program and includes experiential learning throughout the program.

Retailers are challenged to attract and retain customers and meet customers’ expectations whenever, wherever, and however the customer chooses. STRATEGIQA understands this need and has developed a comprehensive training program, covering all the KRA s of Retail Management along with the issues and challenges being faced by the industry. It provides rigorous business and management education as well as functional specialization. All critical areas like store management, supply chain management, shelf space management, staff management etc. are addressed in detail. Our programs focus on customer acquisition and retention, improved customer experience, improved direct marketing efforts, new revenue streams through effective cross-selling and up-selling strategies, and reduced cycle time between order and delivery and lower fulfillment costs.

Our course covers the fundamentals of the retail business and is ideal for any person who wishes to build a career in retail. Even those who have just embarked on a career in Retail stand to benefit in a big way from this course. It offers an all-round perspective and acquaints one with the requirements of the Retail industry.

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