Why Working Retail Is Tough It is important to understand the key challenges retailers face as well as how today’s retailer is working to overcome these challenges.  Inventory Levels and Assortment Adequate inventory levels are essential for today’s retailer. Having too little or too much can have a dramatic affect on the retailer’s reputation as well as the consumer’s perception. Today’s retailers must ensure the right amount of product is… Read More »Why Working Retail Is Tough

Careers in Retail What you’ll learn to do: Recognize career opportunities available in the retail businesses What opportunities do you believe you would be best suited for in retail?  Review the roadmap below to decide where you would be a best fit based on your strengths. If you’re not sure yet, you will have a bit more insight by the time you finish the chapter. For another interesting perspective use… Read More »Careers in Retail

Adaptation in Retail In previous sections we discussed the changing retail environment from a consumer and technology point of view.  Think about the shifts in the retail industry from the modern day department store to the shopping mall and online shopping.  As you consider those shifts also think about how you, the consumer, has changed over time.  Do you shop differently then you used to a year ago or even… Read More »Adaptation in Retail

Information Systems in Retail Information systems are the tools, hardware and software that help retailers achieve success in a dynamic environment. They serve several functions including planning, inventory control, managing budgets and sales goals, and also with point of sale transactions and logistics. Let’s take a brief look at some of the most frequently utilized information systems in retail. Inventory management software (IMS) is a software system for tracking inventory levels, orders, sales and deliveries. It can also… Read More »Information Systems in Retail

The Evolution of Retail What you’ll learn to do: Analyze the evolution of the retail industry Since its birth, modern retail  has significantly changed over time. It is hard to imagine many of the changes that occurred in the 1800s as well as the 1900s as we weren’t alive at that time! However, some of you might be familiar with some of the changes in the 1970s and the 1980s. Just… Read More »The Evolution of Retail

Challenges in Retailing In today’s economy retailers are facing a unique set of challenges. It is important to understand what they are as well as how today’s retailer is working to overcome these challenges. Inventory Adequate inventory levels are essential for today’s retailer. Having too little or too much can have a dramatic affect on the retailer’s reputation as well as the consumer’s perception. A key example of how low… Read More »Challenges in Retailing

Supply Chains Remember your favorite retailer we discussed at the beginning of this course.  Have you wondered how the product is made and just how it makes it to the sales floor? The answer to that question is through exploring the supply chain. What exactly is the retail supply chain? The supply chain is a system of organizations, people, activities, information, and resources involved in moving a product or service from supplier… Read More »Supply Chains

Retailing What you’ll learn to do: Describe retailing, the entities involved, and the impact of decisions on a retail business Retailing is important for business students to understand for two main reasons. First, almost all product channel structures conclude with a retailer. This means that no matter where a product starts its journey, it almost always ends up at a retailer. While products may be produced by a manufacture, pass through a wholesaler,… Read More »Retailing

 Introduction to Retailing When is the last time you went to your favorite retailer?  What store was it? Is it a clothing store, or is it a grocery store? Maybe you prefer to shop online. Why? Have you wondered about the journey those products take before making it out to the shelves?  There are so many aspects to the retail experience and process for us to examine and better understand.… Read More »Introduction to Retailing

Module 1: Introduction to Retailing introduction to retailing retailing supply chains challenges in retailing the evolution of retail information systems in retail adaptation in retail careers in retail why working retail is tough retail management requirements skills of a retail manager strategic planning in retail management strategic planning in retail the retail mix the retailing concept putting it together introduction to retailing Module 2: Retail Environment Analysis why it matters… Read More »Retail Management