mot presentation(wagmans)
TRANSCRIPT
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Presentation by:Sweta║Ranjit║Parishkrit║Sudip
February 24, 2014
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CONTENTS
Introduction Company History Achievement Operation Management Superstores Departmentalization Demand & Supply Management Inventory Management Employees Satisfaction Quality Maintain Technology Management Conclusion
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INTRODUCTION
Wagmans at a glance:
Name: Wagmans Food Markets Inc.Established date: 1930sHeadquarter: Rochester, NewYorkEmployees: About 37,000Annual Sales: $ 3 billionSales per sq.ft.: 50 % higher than industry
average
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INTRODUCTION
Major grocery retail store in U.S Low attrition rates Good customer service High pay & benefits to employees. Positioning for HIGH QUALITY & EXCELLENT
SERVICE
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KEY PERSONS:
Danny R. Wegman,CEO
Colleen Wegman,President
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HISTORY
1916 •Founded by Wegman Bros•Fruit & Vegetable Company
1920’s •Purchased the Seel Grocery Co•Expanded their operations
1930’s• Store were incorporated as Wegman’s Food
Market• Introduced refrigerated display windows and
vaporized water sprays to keep produce fresh1940’s
• Frozen foods were introduced• Robert Wegman converted stores to self-
service format.
1950’s
• Employee benefits program - more than 350 full-time employees
• Diversified into related businesses
1970’s •Started setting up new stores at 40,000 Sq Ft.•3rd retail chain to use Electronic cash register
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1970’s
Opened Home improvement centerPurchased Bilt-Rit Chase-Pitkin IncExpanded Bilt-Rit chainDaniel became the president in 1976Developed private label buying and its brand item chain wide
1980’s
1990’s
1st Pvt. Company offered child care serviceBecame a most popular supermarket chain inNYPositioned it as an advocate of better health and nutritionLaunched ‘Strive for Five’Opened stores outside NY state
Installed ATM’s & provided service Federal credit union for employees were createdFortune Rated best supermarket in US for customer servicesLaunched Work Scholarship Connection
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2005 •Ranked #1 for ‘Best company to work for’ •Announced to close its Chase-Pitkin and Home and Garden centers by 2006
2006
• Employed 36,000 people• Ranked #2 in Fortune List of 100
companies to work• Ranked #66 on Forbes list of the
largest Pvt company in the US
2007• Ranked #32 in Supermarket News list• Ranked #3 on Fortune List• Operated 71 stores
2008Ranked #3 on the FortuneCelebrated consecutive 11 years of being on Fortune magazine’s “100 Best Companies to Work For.
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OPERATION MANAGEMENT
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OPERATION MANAGEMENT
Superstores: About 100,000 Sq.ft. superstores Checkout lanes – 25 to 35 Different in size & features 40-foot displays case 500 sq. ft fisher man’s wharf. Ready made Vs. Made-to-order.
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OPERATION MANAGEMENT….
Departmentalization: Produce Department:
Company prides itself on fresh produce. Replenished as often as 12 times a day. Floor space is more than 4-5 times than industry average. Using ‘Farms to Market’ system.(bypassing warehouse)
Display/sales Department: Very convenient display and sale department. Adopt ‘Selling Culture’ inside the department.
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OPERATION MANAGEMENT…….
Demand & Supply Management: Each department handles its own ordering. Focus on demand timing- Festival, weather, conditions etc Distance of warehouse & sales dept. is near. Strict control over suppliers on product quality & on time
deliveries. ‘Farm to Markets’ system
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OPERATION MANAGEMENT…….
Inventory Management: Decentralize Inventory Management system.
Punishment system
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OPERATION MANAGEMENT…….
Human Resource Management T & D program ($7,000 per new employee) High motivation program( Like- Compensation, profit sharing
and benefits) Employee turnover rate is only 6 %. (In industry average –
20 %) Health & Life insurance. Scholarship for both part & full time employee.
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OPERATION MANAGEMENT…….
Quality Management Positioning on quality. Established test kitchen. Managers are responsible. Well reporting system. Replacement & refund facility.(In Wagmans’s brand items
only)
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OPERATION MANAGEMENT…….
Technology Management Highly experienced IT staffs. Established modern IT department. Continue to adopt new technology.
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CONCLUSION:
Very standard operation management practices.
Focus on prompt supply but not compromising quality.
Unique business model.
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