Friday, 19 January 2018

BBR603 –Merchandising &Supply chain Management

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FALL 2017
Bachelor of Business Administration- BBA
Semester 6
BBR603 –Merchandising &Supply chain Management
4 Credits, 60 marks

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Question. 1. Discuss the concept of retail supply chain.

Answer:Retail Supply Chain Management is the process of managing the entire supply chain of retail organisations. The differentiating factor of retail supply chain management from other supply chain management is in the volume of product movement and the fast moving nature of the products of the retail industry. Retail supply chain has to be monitored very closely and has to be free from defects as the products are always on the move and the cycle time is very low. Further the continuous movement of materials across the supply chain is crucial to the success of any organisation in the retail industry. Hence retail

Question. 2. Elaborate on the management of retail product life cycle.

Answer:In today’s highly competitive marketplace, a superior product assortment can be a key differentiator. Customer expect better, innovative products to be made available to them faster and at cheaper rates. Product life cycles are getting shorter and fashion retailers are moving to four seasons a year. Thus, it’s imperative for them to build capabilities that bring products of value to customers quickly and at competitive prices.

Question. 3. What are the factors affecting merchandise buying functions?

Answer:Retail merchandising consists of the planning, buying and selling of goods and products that retailers will then sell to their customers. It's a critical part of successfully managing both in-store and eCommerce operations, yet it's also one of the most challenging and least understood aspects. Each part of the merchandising equation – planning, buying and selling – needs to be carefully executed, or the retailer may end up losing profit margins and not utilizing product properly.

There are four critical factors that influence merchandising functions and processes. Retailers must consider all four elements as they plan their

Question. 4. Elaborate the process of merchandise planning.

Answer:Customers visiting a retail shop, very often, know what they wish to purchase; they may however, be unaware of the specific size, variant or type of product that is best suited for their needs. After an initial assessment of the products available, they may arrive at a decision in terms of the specific product that they wish to purchase. It is at this stage that the merchandise that the retailer has on offer in the store plays a critical role in determining whether the purchase is made or the customer takes his search for the products elsewhere.

Question. 5. Discuss some of the standard color schemes adopted in retail stores with example.

Answer:Shoppers most often choose what they buy based on color. In fact, it can account for up to 85 percent of the reason people buy one product over another, according to the Color Marketing Group, a professional organization for color designers in Alexandria, Va.

Color's influence on consumer behavior isn't confined to

Question. 6. Write short notes on:

a) Retail Replenishment

Answer:Constant promotions and ever-changing demand and supply variability can leave store shelves empty before people can sense the problem and respond to it. By connecting to the cloud-based Real Time Value Network and subscribing to the Retail

b) Retail ERP

Answer:Enterprise Resource Planning systems or the ERP systems refer to the software packages that integrate all the data and the related processes of an organization into a unified Information System (IS). An ERP system uses a central database

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