Glancing in the Life of a Retail Manager
Retail management is to transform and endeavors a smooth shopping process for consumers whether it’s based for commodities or goods such as clothes, household appliances, health and beauty products, sports equipment, or some other items. The opportunities in this career abound are massive in number. In addition, the companies sell their wares through many different channels of distribution, including:
- Department stores
- Specialty stores
- Discount outlets
- Individual or owned stores
- Online commerce
Let’s peek into the daily responsibilities of a retail manager:
- Forecasting: judging how many units of a particular product the company could sell, along with the estimation of costs and logistics involved in developing and manufacturing of the product involved falls under the responsibility of a retail manager.
- Supply-chain management: retail manager must ensure that products move smoothly from factories to distributors or wholesalers, and then to store shelves. It’s the manager’s duty to decide how many units to ship, which form of transportation to use such as truck, train, plane, ship, etc and when to ship the units.
- Inventory management: retail manager has to ensure that the company has the right quantity and amount of inventory on hand. Inventory management has tight links to supply-chain management.
For example, if a supplier sends a shipment of a particular commodity for instance a Halloween costume after the holiday, then the costumes would languish in the store’s warehouse until next season. The store in the next season would then sell these products at a deep discounted price to lose profits.
To manage inventory efficiently, retail managers must estimate customer demand based on factors such as the economy, weather, and buying trends in advance.
- Personnel management: A typical retail operation would hire tens, hundreds or even thousands of full-time, part-time, and seasonal employees in his/her particular store.
This could further turn out to be a challenging job and thus for the personnel management, retail managers have to inherit strong management skills.
- Marketing: it’s the retail mangers duty to wisely choose what products to carry, how to support manufacturer promotions and to develop his/her own pricing and promotional programs.
Alliance University offers Executive PGDM (Part-Time) Program in Retail Management:
Retailing is an important field for studying since it impacts on the economy, its functions in distribution, and its relationship with firms selling goods and services affects individuals on a daily basis. Another reason for studying retail management is that it constitutes of broad range of career opportunities.
Alliance University upholds the title of highest ranked universities in India. The retail management program prepares students for careers involving introduction to principles and functions of retail management, strategies and analysis of the particular field. It also enhances the skills of applicants and helps them to develop leadership qualities, entrepreneurship and logical ability.
The Executive PGDM Retail Management Program introduced by Alliance University in collaboration with Jaro Education is specially designed in a part time format in keeping context to individuals who are unable to pursue a full time course. It fulfills the requirements of adept and skillful retail managers in the industry by providing necessary knowledge and training about the representative retail field.
The Alliance Part-time MBA of 16 months exclusively tailored for working professionals, housewives and graduates, who wish to attain the competency to compete in the competition with other individuals in the retailing field.
The rising demands for skilled and professional retail managers, have led for the development of this executive management program which aims at producing leaders who are capable of taking risks and fulfill the client’s demands. To register with PGDM Executive Retail Management program, click here: http:// bit.ly/1mh4V9W