The highly competitive retail environment has placed considerable strain on the financial performance of most retailers. Today, retailers must carefully manage how they allocate valuable resources to achieve optimal financial outcomes. These resources include investments in retail floor space, inventory, people (service), marketing and physical improvements.
This program will introduce several important financial models that can be used to assess current performance, understand how to make improvements and make changes to these resources to improve financial success. We apply these models to three levels of retail performance: 1.) Company/Store-level performance, 2.) Departments/Category- level performance and 3.) Merchandise/SKU-level performance.
The objectives of this programme are as follows:
|a.m.||Lecture and Discussion: Driving Retail Financial and Productivity Performance. |
Topics: Framework for Measuring and Improving Financial Performance from Internal and External PerspectiveProductivity metrics: sales density, stock turnover, GMROM, GMROI, service and merchandise intensity methods for adjusting resource metrics to improve productivity.
Objectives: Develop metrics for evaluating performance of retail enterprises, from investor and operational perspectives. Develop metrics for understanding and improving the productivity of margins, space, merchandise, and service, both in brick-and-mortar and digital retail. Understand the importance of productivity metrics such as sales density, stock turnover, GMROM, GMROI, service and merchandise intensity.
|p.m.||Team Exercise: Midwest Markets: Team Financial Analysis Exercise (Level 1 Analysis: Company/Cluster/Store). |
Topics: Application of 8 Ways-to-Win Strategic Framework for recommendationsApply framework for measuring and improving financial performance from internal and external perspectiveEvaluating Drivers of Financial and Productivity PerformanceOverall company, store-level cluster and quartile perspectiveProductivity metrics: sales density, stock turnover, GMROM, GMROI, service and merchandise intensity.
Objectives: Using data from a supermarket chain, evaluate the performance of the company overall, of store clusters and quartilesHow to analyze and improve the performance of individual stores
|p.m.||Team Presentations of Midwest Markets Exercise|
|a.m.||Team Exercise: Master Matrix: Team Financial Analysis Exercise (Level 2 Analysis: Space Productivity of Departments/Categories). |
Topics: Definition and analysis of store fleet performance (clusters, quartiles, individual “focus” stores of interest) using operational, financial, demographic and competitive dataDepartment/category analysis for stores and for online, through analysis of space/capital, labor, merchandiseReview, critique, and make recommendations for specific merchandise range reviews or for merchandise rationalization or range expansion.
Objectives: Using data from a department store, evaluate the performance of the space productivity of specific departments or categoriesUnderstand when and how to adjust space, merchandise and service to improve the performance of departments/categories and stores
|a.m.||Team Presentations of Master Matrix Exercise|
|p.m.||Team Exercise: Merchandise/SKU Team Financial Analysis Exercise (Level 3 Analysis: Productivity of Merchandise/SKUs).|
|Topics: Apply a framework for measuring and improving financial performance from internal perspectiveImprove Merchandise Performance and ProductivityMerchandise dataRange reviewsGMROIStockturn.|
Objectives: Undertake range reviews to evaluate merchandise performance and opportunities for improvement, understand key metrics of merchandise financial performance, including GMROI, stock turnover and othersMake careful decisions about deletions of merchandise assortments.
|p.m.||Team Presentations of Merchandise/SKU Exercise|
|p.m.||Summary of Program and Final Conclusions|
Presidents, CEOs, Vice Presidents, General Managers, Operation Directors, Senior Managers and Managers of retail companies responsible for financial performance
Retail owners and executives who are interested in maximizing financial performance should attend as the programme will help executives to diagnose, prescribe and improve financial performance of individual stores, space utilization inside the store and merchandise performance.
MRA Member – RM2,600-00 per person for the two days programme
Non MRA Member – RM3,000-00 per person for the two days programme
Malaysia Retailers Association Alliance Bank Malaysia Berhad
Account Number: 141 6700 1002 1873
This programme is also supported by HRDF under SBL.
|Oct 29th & 30th 2019||Kings College,Level 7, Faber Imperial Court, Sheraton Imperial Hotel, Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia.|
The seminar will be highly interactive with lectures, presentations and real retail case discussions. Copies of lecture notes and any additional notes shall be provided.
Aug 15th 2019 Further Information Please contact :
Dr. Vincent Kong
Mobile : +6017 3243251
Email : firstname.lastname@example.org
Ronald L. Hess is an Associate Professor of Marketing at the Mason School of Business at the College of William & Mary. He teaches Strategic Marketing and the Business-to-Business Marketing Career Acceleration Module (CAM) course in the William & Mary MBA and EMBA Programs. Previously, he taught courses in Customer Experience Management, Marketing Analytics, Consumer Behavior, Strategy and Sales Management. Prior to his appointment at William & Mary, he spent two years teaching in the MBA and Executive Programs at the University of Central Florida. He is multiple winners of the Outstanding Professor Award and Service Award at the Mason School of Business at the College of William & Mary.
Professor Hess has considerable experience in consulting and executive education. He is involved with the “Strategic Planning & Management Program” (Babson University Executive Education), “Strategic Retail Management Program” (Intercontinental Group of Department Stores) (Switzerland), “Retail Strategic Management” (Swinburne University of Technology (Australia), Bunnings (Australia), Bunnings (UK), Officeworks (Australia), Bunnings Commercial Trade (Australia), Abrafarma (Brazil), Blooms The Chemist (Australia), Sogo KL (Kuala Lumpur), Siman (El Salvador), “Strategic Planning and Management in Retailing Program” (Retail Academy of Singapore), Price Waterhouse Coopers (PwC) (Melbourne and Sydney Australia), CPM and Retail Safari (Sydney Australia), Langley Federal Credit Union, Nike, Cisco, Swisslog, Eaton Corporation, Zeltiq (Allergan), ULab Systems, HintMD, United States Army & Air Force Exchange Service (AAFES), United States Marine Corps Exchange Commands (MCX), United States Army Corps. of Engineers (USACE), NEXCOM (Navy Exchange Service Command), Philip Morris USA, Guidestar, Fabsuite, KBH Business Management Systems, Conference of Minority Transportation Officials (COMTO), WIRED, IdeaWorksHamptonRoads, Greater Williamsburg Chamber & Tourism Alliance, Marketing Research Task Force MRTF, Hampton Roads Cluster Program, and Hampton Roads Technology Incubator System.
His research expertise and interest involve customer satisfaction, customer experience, in-store technology, complaint handling, customer loyalty, service technology and customer lifetime value in the retailing and services industries. He has published his research in Organizational Behavior and Human Decision Processes, Journal of Retailing, Journal of the Academy of Marketing Science, Journal of Service Marketing, Journal of Retailing and Consumer Services, Service Business and Marketing Letters.
This content has been delivered and used extensively in programmes conducted throughout the world since 1989.
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