retail operations-titan document

8/3/2019 Retail Operations-titan document

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Footwear Design & Development Institute

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Retail

Operations

Project On store operation

TITAN(GIP MALL, NOIDA)

SUBMITTED TO :- SUBMITTED BY:-

Mr. Satyendra Singh Akash Singh(06)

Anshika Rohatgi(15)

Shivam Tomar(48)

Shivangi Agarwal(49)

Vipul Kothari(60)

GROUP NO.6




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INDEX

1) Acknowledgement

2) Introduction

3) Standard operating procedure

4) Merchandise maintenance

5) Guidelines

6) Daily sales report7) Physical verification of cash

8) Petty cash

9) Monthly activities by store

10) Maintenance of documents

11) Month & manager checklist

12) Reviewing the P& L statement of the store

13) Store audits




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ACKNOWLEDGEMENT

We would like to thank our faculty, in charge of this subject Mr. Satyendra for guiding us for

the completion of this valuable assignment which would surely help us in future also and without

his constant support this would never be a success.

We would also like to thank our parents for their mental and financial support always and evento our friends who come up with the pros and cons of the project out of which we were able to

successfully present it.

And at last we would also like to thank the titan store team from their respective store specially

Ms.Shalini who helped us for the completion of this project because without their help the

project would never had came to an end.




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Introduction

Titan Industries is the world’s fifth largest and India's leading manufacturer of watches. Thecompany has manufactured more than a 100 million watches till date; and has a customer base of

over 80 million. The umbrella brand Titan is one of India's leading watch brands that brought

about a paradigm shift in the Indian watch market, offering quartz technology with international

styling.

The brand Titan is committed to offering its consumers watches that represent the compass of

their imagination. Titan's customers are therefore consistently introduced to exciting new

collections, which connect, with various facets of their deep−rooted yearning for self -expression.

The new brand philosophy of Titan, encapsulated in the words "Be More", touches this as well as

all other aspects of the brand.

The Titan brand architecture comprises several collection and sub−brands, each of which is a

leader in its segment. Notable among them are: Titan Edge The world's slimmest watch whichstands for the philosophy of "less is more"; Titan Raga the feminine and sensuous accessory for

today's woman, Nebula − crafted in solid 18k gold and precious stones. Several other popular

collections like Heritage, Aviator, Regalia, Octane & WWF also form a part of the Titanwardrobe.

Today, the Titan portfolio has over 60% of the domestic market share in the organized watchmarket. The company has 247 exclusive showrooms christened World of Titan', making it

amongst the largest chains in its category backed by 700 after−sales−service centers. The

company has a world−class design studio that constantly invents new trends in wrist watches.




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Standard operating procedure-

Management processes that describe chronological (in order) steps to follow and decisions to

make in carrying out a task or function.

Daily operations by the store:-

Store opens by 9:30 am with the help of store manager.

Cleaning of the entire store is done every day before opening the store and the store isopen only by the female member of the store.

Each watch is counted every day after opening the store by any of the staff members.

Store manager or any of the staff member on duty updates the opening stock.

Revise the list sent by the head office.

Updates the discounts and the promotion on various watches.

Empty space inside the display shelves is filled with the new watch, kept in the back store.

The cash is maintained & distributed by the store manager. Counting of the stock.

At night, closing of cash is done.

For receiving the cash of previous day a person comes in the morning daily to collect thecash with the prior signature of the person who is handling the cash at that particulartime.

Merchandise maintenance:-

Each watch is packed inside a small plastic packet so to save it from dust for the watcheswhich are not on display.

Watches are properly packed inside the box according to the size and brand of the watch.

While showing it to the customer the watches are kept on the tray instead on the glass soto avoid scratches.

The cleaning of watch is done by a soft cloth.

All the glass cabins in which the watches are displayed are also cleaned by a soft cloth ona regular basis through this hygiene factor is taken into consideration.




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Cash wrap area guidelines:-

Computer

Printer

Visitor’s book

Visiting cards

EDC machine Store stamp

Carry bags

Keys of the display shelves

Marker

Magnifying lens

Calender

DVD player

Telephone line

Lean charts (directory)

Stationery – scissors, pen, stapler, cello tape, pins, paper, eraser & sharpener.

Goods receipt guidelines:-

Basically the trend which is being followed in TITAN Store is through Discrepancies system-

CFA(Carry and Forwarding Agent). He basically receives all the stock from regional offices and

then after checking and collecting he transfers it to the store and a problem arises than it is being

informed to regional office and then they only take the decisions for what to do with thatparticular stock.




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Back store upkeep guideline:-

In this particular store, back store act as a service centre area where watches have beenrepaired by the service centre representative.

It also acts as a changing room & eating area for the store staff personnel.

It has the water cooler inside. There is a computer for the service centre representative who does repairing of watches.

It act as a non displayed merchandise.

SERVICE DESK WATCH REPAIR AREA

STOCK LUNCH




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Sales guideline:-

The customer is greeted by the sales person & is directed towards his area of interest.

Salesperson should have proper knowledge about all the collections of watches likenebula, raga ,fast track ,purple, xylus, obaku, titan heritage, automatic ,titan edge, etc.

He should know the proper functioning of every watch. He should have the information about the time of guarantee/ warrantee on watches.

Salesperson is not allowed to take out more than 3 watches while attending the customer.

He should know how to display watches in the display area.

He should make a note of customer’s requirement and suggestions in his mind.

If incase customer asked for some watch & that particular watch is not available in thestore, than he should know how to handle a customer at that time.

If a customer ask for a watch to be repair than a customer guided towards service area.

Billing guidelines:-

Computer is installed with a tailor made software named ETP software developed by ITcompanies.

Computer is present with a printer.

2 electronic data capture machine is present to swipe the credit cards.

Once the customer selects a particular watch to buy, he presents it at the billing counterand the cashier scans the bar code on the watch. After which the dial number and the

variant number are noted on the bill as well as on the guarantee card.

Then the customer is asked for the billing details and the method by which s/he is goingto pay.

If the customer pays by CC then the cc details are taken and the bill is generated after

swiping the card. If the customer pays by cash then the cash is counted and the bill is generated.

In case the EDC is not working then a manual bill is generated and the customer pays bycash.

The coupons are adjusted in the final bill and are as per the terms and conditions of thecoupon.

If the CC is not working the cashier may ask for some other card.

The copy of counter foil is generated and signed by the customer and is kept at the storeand a customer copy is given to the customer in case of a CC payment.

The copy of this counter foil is attached to the bill & is given to the customer.

Customer name, contact number, billing address or location with the item code, price &

the sales representative name or code is present on the bill.




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Credit card operating & deposit guidelines:-

The credit card is swiped at the EDC machine & the counterfoil is generated of the

amount received is signed by the person who is sitting at the cash counter. Sign is cross-verified with the signature at the back of the credit card.

The merchant copy bearing the sign of the customer is kept with the store.

Every morning the CC receipt should be settled in EDC & should be filed with thecounterfoil guaranteed by the system of the cash bill.

Daily sales report:- DSR gives an overall quantity, value sale, UCP, unit cost price and average

bill value of a particular day. It is used to compare it against plan & last year & assists in guiding

the business. sales result are reported as a daily number month to date & year to date.

Physical verification of the cash:-

Cash is verified by the cashier of the store at the end of each day & sign a register withcomplete details including the denomination of physical cash.

Petty cash:-

It is one of the few brands that provide lunch to their staff members.

Stationery bill inks, wrapping paper, pens, etc. are involved in petty cash when finishedin between the period they will come again so they are arranged at store level and added

as a petty cash expense.

Defected goods exchange & return guidelines:-

The customer can exchange the watch within the same price range or price higher thanprevious one within the 30 days of purchase.

If he does not find any watch satisfactory, than the store gives the opportunity to go tosome other store within 30 days.

The defected goods are sent back to the regional office.

The company can issue a credit note/mode of payment for such an exchanges.

The goods returned should not have any external defects by the customer.

The damaged piece is given to the service department and is seen by the technician.




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Monthly activities by the store are:-

To achieve the target sale.

To calculate the profit and net profit completed by the store.

Every month all the stock, sales & cash register should be closed and the consolidated

report on the same is sent retailer manager. All the daily expenses incurred by the store should be listed in the petty cash.

Those bills are than sent to the regional office to reimburse all those bills.

The manager should be well-informed of any marketing activity happening in thebusiness area.

Stock level & replenishment guidelines:-

The stock level is checked on floor & if there is shortage than it is sent back to the

regional office. To replenish the stock one of the person from store staff sends requisition to the regional

office.

Closing of the store guidelines:-

The departure time of each &every store staff is marked in the attendance register alongwith his/her signature.

Cloth checking is done every time a store staff leaves so as to ensure there is no

merchandise from the store is being carried outside.

The lights are switched off by the housekeeping person before being vacated.

After closing the store the keys are handed over to the person who will be opening thestore , the next morning.

Housekeeping checks the store is locked.

Maintenance of documents:-

Stock, cash & credit card registers are maintained electronically as well as manually.

Original stock transfer notes, as received from CFA (carry & forwarding agent).

Duplicate copies of cash memos; void bills are attached with the original bill with reason.

Details of stock adjustment are done.

Daily planner & statistic guidelines:-

Anyone from the staff can track the sale business throughout the day.

Every day the daily planner & statistics page for each month of the fiscal month is savedafter filling as much sales information that is available in advance.




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Month & manager checklist:-

Daily the staff has been informed about their actual performance on the basis of theirstore performance.

Verify bank deposit log against validate deposit slip.

List of the document is made has been sent to the regional office. Shrinkage of department is mentioned & if shrinkage is above the time then staff has to

give answers.

Reviewing the P & L statement of store:-

Review the P& L statement for posted sale volume.

At the end of each fiscal month all controllable expenses are reviewed to ensure the storeis within budget.

A copy of monthly P & L statement is inserted in sales report binder.

Store audits:-

It is mainly done by the company how the store is going on.

Adjustment entry passed at the time of auditing.

Store management is required to conduct a self audit minimum once in every month,from the start of fiscal year.

External agencies can be appointed to conduct the store audit once in every month




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BIBLIOGRAPHY

www.titanworld.com Browsing Google search Titan store GIP,NOIDA

http://www.titanworld.com/

http://www.titanworld.com/




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THANK YOU

retail operations-titan document

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