Retailing and Logistics of Wm Morrison Supermarkets Plc
In the traditional supply chain management used by business organizations, a lot of people, time and money are invested upon to ensure that the demands of the consumers will be handled in the specified date and time required. Before being able to place an order of shipment of products and even services, several transactions are consulted between the product supplier or the service provider to meet the demands of the consumers and clients. The supply flow normally includes the intention of order, quotation, confirmation, delivery, payment and handling of receipts. Normally, great amount of time is consumed in the mere planning of the purchase orders of a particular business company. And since most of the time the transactions involve not only a single client or customer, especially in the case of huge product and service providers, business establishments deal with sub-suppliers with several forwarders from which a number of consolidations are exchanged. The workload and time that the inventory managers handle defines the proceeding business processes that follow and thus, predict and maintain the success and profit of the whole business organization. That is why, efficiency counts!
The latest study says that 70% of all decisions and choices to purchase a product come up when the customers are still in the store shopping. So it means that customers go through the so-called impulsive buying. In order to improve sales, the retailer’s marketing efforts is very necessary. In 2003, retailers drive their success on disposable income and impulse purchases ( 2004). This alone gives the idea that retailers should seek new ways on how to cope up with the current trends in retail. Lately, the globalization of retailing has made a strong impact on the profitable structure of municipalities in the entire nation. New format retailing has made a significant change in the retail sector ( 1998).
On the other hand, (1998) cited that performance outcomes are a function of many variables that includes owner behaviors, individual owner characteristics and environmental influences. Small firms as unique entities are the mini-versions of large businesses. Increasingly sophisticated consumers have higher needs and expectations, particularly in retailing. This is an outcome of the new demands of smart shoppers, more so with the, new standards in communication, an invasive advertising, and the extras of just about everything – except the time. The consumers’ common citation now is “I want it better, cheaper, easier, faster, and now” and if his/her demands can’t be meet they won’t stick time to stay to one establishment but rather go to a lot of other alternatives ( 2004,).
Therefore, marketing strategies in operation, strategies for product/ service differentiation from competitors and on how the business compete in the market for price and product supply serves a big factor in determining the success of each retail businesses ( 1993). Retailers .
0 comments:
Post a Comment