ML0018-Project Management in Retail

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ASSIGNMENT

 

PROGRAM MBADS (SEM 4/SEM 6)MBAFLEX/ MBA (SEM 4) PGDROMN (SEM 2)
SEMESTER 2
SUBJECT CODE & NAME ML0018-Project Management in Retail
CREDIT 4
BK ID B1844
MAX.MARKS 60

 

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.

 

1 Describe the various Project Management Tools.

Answer: The project management process typically includes four key phases: initiating the project, planning the project, executing the project, and closing the project. An outline of each phase is provided below.

 

Initiating the Project

The project management techniques

 

 

 

2 Explain the Retail Project Formulation for Franchise Business

Answer: A clear and definite plan outlined by the retailer to tap the market A plan to build a long-term relationship with the consumers Process of strategy formulation in retail is the same  as that for any other industry It starts with the retailer defining or stating the mission for the organization The mission is at the core of the existence of the retailer Other aspects of the strategy may change over a period of time or vary for different markets.

 

Retail Strategy:

 

 

 

 

3 Explain Project Risk and its types

 

Answer: Risk Analysis is often conducted in two different ways – Qualitative and Quantitative. For a proper risk assessment of any project plan or project management system, it is vital to understand the basic defining difference between them.

 

Risk analysis is an essential managerial perception that is needed to identify existing and potential threats, vulnerabilities, and other workplace hazards that can compromise the performance of any organizational set-up and overall performance. How

 

 

 

 

4 Describe different activities related to the Retail Project Execution

 

Answer: Retail Project Merchandisers are responsible for executing merchandising projects to display products at a variety of different retail accounts within an assigned territory.

 

Retail Project Merchandisers Responsibilities

 

 

 

5 Briefly explain Retail Project life cycle stages.

 

Answer: Project management includes:Developing a project plan, which includes defining project goals and objectives, specifying tasks or how goals will be achieved, what resources are need, and associating budgets and timelines for completion Implementing the project plan, carefully to make sure the plan is being managed according to plan.

 

 

 

 

 

6 Write short notes on:

  1. a) Maximin Decision Rule(Pay off model)

Answer: Minimax is a decision rule used in decision theory, game theory, statistics and philosophy for minimizing the possible loss for a worst case (maximum loss) scenario. Originally formulated for two-player zero-sum game theory, covering both the

 

 

  1. b) ISO 9000

Answer: The ISO 9000 family addresses various aspects of quality management and contains some of ISO’s best known standards

 

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ML0017-Mall Management

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ASSIGNMENT

 

DRIVE WINTER 2014
SUBJECT CODE & NAME ML0017-Mall Management
CREDIT 4
BK ID B1843
MAX.MARKS 60

 

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.

 

 

1 Explain Retail Trade Area and the different models related to it.

Answer: In community economic development, a trade area is the geographic area from which a community generates the majority of its customers. This often is the geographic area that represents 75-percent of current customers.  Sometimes a community may have more than one trade area (such as a convenience and a destination trade area). Knowing the size and shape of each trade area is extremely important because its boundaries allow for measurement of the number of potential customers, their demographics, and their spending potential. This information provides valuable insight into your community’s customer base and allows you to calculate demand for stores, products, and services.

 

This section includes information on how to define your trade area(s).  You will be able to apply these methods to define the most appropriate geographical

 

 

 

3 “Tenant Management in malls is a very critical matter”. Elaborate

Answer: Tenant management organisations (TMOs) are organisations set up under United Kingdom law which allow residents of council housing or housing association homes in the UK to take over responsibility for the running of their homes.

 

Structure & operation

A TMO is created when residents, tenants and

 

 

 

4 Explain the use of In-Mall Ads to develop Experiential Marketing.

Answer: Here are four smart reasons to make experiential marketing part of your annual program:

 

  1. Make Immediate Sales

Events that integrate entertainment with the chance to try a product are very popular. For example, home parties can be used to give customers the opportunity to experience the benefits of a product they can’t buy in stores. In the Jack Morton survey, nearly 85 percent of women said they would bring family or friends to a live marketing experience, and three-quarters said they’d tell others about it. It’s the event itself that separates experiential

 

 

 

5 “Shopping malls and complexes are places where people gather in great numbers and the occurrence of a disaster can result in heavy casualties”. Elaborate.

Answer: Disaster management (or emergency management) is the creation of plans through which communities reduce vulnerability to hazards and cope with disasters. Disaster management does not avert or eliminate the threats, instead it focuses on creating plans to decrease the impact of disasters. Failure to create a plan could lead to damage to assets, human mortality, and lost revenue. Currently in the United States 60% businesses do not have

 

 

 

6 Write short notes on:

 

  1. a) Cooperative Advertising

Answer: Cooperative advertising means shared advertising. An external source such as a manufacturer or wholesaler pays majority of the advertising cost, which is of significant advantage for the retailer. In this respect, brand promotion is

 

 

  1. b) Resource Based Analysis

Answer: The resource-based view (RBV) as a basis for the competitive advantage of a firm lies primarily in the application of a bundle of valuable tangible or intangible resources at the firm’s disposal.To transform a short-run competitive

 

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MK0016- Advertising Management and Sales Promotion

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ASSIGNMENT

 

DRIVE WINTER 2014
PROGRAM MBADS – (SEM 4/SEM 6) MBAN2 / MBAFLEX – (SEM 4)

PGDROMN – (SEM 2)

SUBJECT CODE & NAME MK0016- Advertising Management and Sales Promotion
SEMESTER 4
BK ID B1809
CREDITS 4
MARKS 60

 

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.

 

 

  1. Explain the different types of Advertising copy.

 

Answer: Classification of Advertisement Copy

It is true that copy writing is an art and the copywriter has a very important role to play in advertising creativity. Copy writing does not admit any stereotyped rules and classification. There are various styles in which a copy can be prepared and presented. The following classification of advertisement copy may be studied;

 

  1. Descriptive Copy – This type of copy describes the pertinent and relevant characteristics features of the product. It is very simple and of non-

 

 

 

  1. Discuss the DAGMAR approach in setting objectives and measuring effectiveness of advertising.

 

Answer : Meaning of DAGMAR approach

Advertising is a part of marketing sometimes avoided by small business as it can be perceived as costly, ineffective and only appropriate for large corporations. However an understanding of advertising models such as AIDA and DAGMAR can help any small business plan more effective advertising.

AIDA stands for Attention, Interest, Desire and Action and can be used in small business marketing to improve campaigns, including those based on email autoresponders.

 

 

 

 

  1. Advertising is a paid form of communication. It has gained its significance since it attempts to build a positive attitude towards a product. Explain the characteristics and objectives of advertising.

Answer : Three Main Advertising Objectives

 

Increasing Sales and Profits

One of the major objectives of advertising is to increase sales and profits. Some companies, like Internet businesses, only use advertising to apprise people about their products and services. These companies don’t have sales departments. Hence,

 

 

 

 

 

4 What is “above the line” and “below the line” activities with respect to marketing communications? Explain the concept in detail.

 

Answer : Above-the-line

There are a number of approaches to promotion that are open to organisations. Above-the-line promotions use mass media methods. This type of promotion focuses on advertising to a large audience. It includes print, online media, television and cinema advertising.

 

As the fourth largest car company in the world, Kia

 

 

5 Describe the AIDA model of consumer response hierarchy with the help of diagram.

 

Answer : The Hierarchy of Effects Model was created in 1961 by Robert J Lavidge and Gary A Steiner. This marketing communication model, suggests that there are six steps from viewing a product advertisement (advert) to product purchase. The job of the advertiser is to encourage the customer to go through the six steps and purchase the product.

 

 

 

 

  1. Describe some of the strategies for effective marketing and advertising in rural market.

 

Answer : In order to utilize the immense potential in rural markets companies need to develop specific marketing mix and action plans, taking into consideration the complex set of factors that influence consumer behaviour. Innovative companies which adopted an integrated approach have succeeded in utilizing marketing opportunities that rural areas offer.

 

Different rural marketing strategies in India

  1. Competitive strategy

 

 

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MK0015-Services Marketing and Customer Relationship Management

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ASSIGNMENT

 

DRIVE WINTER  2014
PROGRAM MBADS – (SEM 4/SEM 6) MBAN2 / MBAFLEX – (SEM 4)

PGDROMN – (SEM 2)

SUBJECT CODE & NAME MK0015-Services Marketing and Customer Relationship

Management

SEMESTER 4
BK ID B1808
CREDITS 4
MARKS 60

 

 

 

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.

 

 

 

Q1. Discuss the eight different demand situations of Service.

 

Answer : The task of managing markets and ensuring a good fit between supply and demand is usually very much more complex for services than for goods. Because goods manufacturers are able to separate production from consumption, they have the ability to hold stocks of goods that can be moved to even out regional imbalances in supply and demand.

Stocks can also be built up to cater for any peaks in demand, for example, umbrella manufacturers can work during the summer months making umbrellas to store to meet the sudden surge in demand each monsoon. Those umbrellas not sold in that monsoon can be sold later in the year at a lower clearance price, or put back into stock

 

 

 

 

Q.2 Elaborate GAP analysis in detail.

 

Answer : In information technology, gap analysis is an assessment tool to help identify differences between information systems or applications. A gap is sometimes called “the space between where we are and where we want to be.”

 

A gap analysis helps bridge that space by highlighting which requirements are being met and which are not. The tool provides a foundation for measuring the investment of time, money and human resources that’s required to achieve a particular outcome.

 

In software development, for instance, a gap analysis can be used to document which services and/or functions have been accidentally left out, which ones have been deliberately eliminated and which still need to be developed. In compliance, a gap analysis can be used to compare what is required by law to what is currently being done.

 

 

 

Q.3 “Interaction plays a lead role in building customer relationships”. Explain CIM in this context.

 

Answer : Computer-integrated manufacturing

A system in which individual engineering, production, and marketing and support functions of a manufacturing enterprise are organized into a computer-integrated system. Functional areas such as design, analysis, planning, purchasing, cost accounting, inventory control, and distribution are linked through the computer with factory floor functions such as materials handling and management, providing direct control and monitoring of all process operations.

 

Computer-integrated manufacturing (CIM) may be viewed

 

 

 

Q.4 What are the various types of conflicts in marketing services?

 

Answer : In the workplace, conflict is inevitable, usually occurring when one party perceives that their interests are being opposed or negatively affected by another party. Conflict can produce either a positive or negative outcome. By being able to identify potential conflict before it arises and knowing how to effectively manage it, you will be able to help your staff increase the chances of turning conflict into a positive outcome. There are two types of conflict, functional and dysfunctional.

Functional conflicts

Functional conflicts are constructive, support your

 

 

 

Q.5 Elaborate the important steps that service providers should bear in mind while implementing one to one marketing.

 

Answer : Some of the important steps for implementing one-to-one marketing are as follows:

 

One-to-one marketing involves gearing the organization to deal with valuable customers on an individual basis. This is not unattainable, but the effort should be worth the benefits that accrue.

 

One-to-one or relationship marketing means being able and willing to change one’s behaviour towards individual customer based on what the customer tells the company and what else the company knows about that customer. The mechanics of one-to

 

 

4

 

 

 

 

Q.6  “Positioning a service in the marketplace is much like positioning a product”. Explain Service positioning and its purpose with the help of an example.

 

Answer : Positioning of services :

The development of a sustainable positioning strategy for a product, service, division or company.  Each engagement utilizes the Four Forces of Positioning methodology. These projects include fresh articulation of market vision, competition analysis, market segmentation, positioning statement development, and identification of business model implications of positioning strategy.

 

Explanation :

Positioning strategy of services in based on

 

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ML0013-Retail IT Management

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ASSIGNMENT

 

DRIVE WINTER 2014
PROGRAM MBADS (SEM 3/SEM 5)

MBAFLEX/ MBA (SEM 3)

PGDROMN (SEM 1)

SUBJECT CODE & NAME ML0013-Retail IT Management
BK ID B 1764
CREDIT & MARKS 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.

 

 

  1. 1. Elaborate the advantages and disadvantages of online retailing.

 

Answer:The business of a retailer is to buy items in large quantities to take advantage of lower costs and then sell the items in smaller quantities with a profit mark-up. Retailers act as middlemen between the manufacturer or the wholesaler, and the customer who buys the good. There are advantages to being a large-scale retailer such as supermarket, superstore or hypermarket, but there are also some disadvantages.

 

Advantages

 

Economies of scale: Economies of scale occur when the output of the business increases at a faster pace than costs. Businesses enjoy benefits due to their size.

 

 

 

  1. 2. Briefly explain different types of information systems.

 

Answer:An Information System (IS) is a system composed of people and computers that processes or interprets information. The term is also sometimes used in more restricted senses to refer to only the software used to run a computerized database or to refer to only a computer system.

 

There are various types of information systems, for example: transaction processing systems, decision support systems, knowledge management systems, learning management systems, database management systems, and office information

 

 

  1. 3. Explain Strategic Information system (SIS) in detail.

 

Answer:Strategic systems are information systems that are developed in response to corporate business initiative. They are intended to give competitive advantage to the organization. They may deliver a product or service that is at a lower cost, that is differentiated, that focuses on a particular market segment, or is innovative.

 

Strategic information management is a salient feature in the world of information technology (IT). In a nutshell, strategic information management helps businesses and organizations categorize, store, process and transfer the information they create and receive. It also offers tools for helping companies apply metrics and analytical tools to their information repositories, allowing them to recognize opportunities for growth and pinpoint ways to

 

 

 

  1. 4. “Information systems are prone to various threats”. What are the possible threats to information security? Explain in detail.

 

Answer:There are many information security threats that we need to be constantly aware of and protect against in order to ensure our sensitive information remains secure. This article details 12 different information security threats that are commonly found, together with some preventative measures that can be taken.

 

Unauthorized Access – Enter at your own risk

 

 

 

 

  1. 5. Describe the standards of The Association for Retail Technology Standards.

 

Answer:The Association for Retail Technology Standards (ARTS) is an internationally reaching standards organization dedicated to reducing the costs of technology through standards. ARTS is a worldwide community of retail business, information technology professionals and analysts organized to help retail enterprises and solution providers identify, adopt and integrate current and emerging information technology and innovation into their organizations, strategies and operations.Since 1993, ARTS has been delivering application standards exclusively to the retail industry. ARTS has four standards: The Standard

 

 

 

 

  1. 6. Write short notes on:

a)Barcode Technology: Barcode technology works of off a principle called symbology. Symbology at its basic form is what defines the barcode; it determines the mapping and interpretation of the encoded information or data. This encoding allows the scanning device to know when a digit or character starts and when it stops, similar to a binary representation. We recognize barcodes as an array of parallel lines alternating between white and black lines. Barcode technology provides a simple and inexpensive method of recording data or information in a number of applications.

 

 

 

  1. b) Radio Frequency Identification Technology(RFID): Radio-frequency identification (RFID) is the wireless use of electromagnetic fields to transfer data, for the purposes of automatically identifying and tracking tags attached to objects. The tags contain electronically stored information. Some tags are powered by electromagnetic induction from magnetic fields produced near the reader. Some types collect energy from the interrogating radio

 

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ML0012-Store Operations

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ASSIGNMENT

 

DRIVE WINTER 2014
PROGRAM MBADS (SEM 3/SEM 5)

MBAFLEX/ MBA (SEM 3)

PGDROMN (SEM 1)

SUBJECT CODE & NAME ML0012-Store Operations
BK ID B 1763
CREDIT & MARKS 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.

 

 

  1. 1. “The easiness of entry into retail business results in stiff competition and better value for the customers”. Explain the tips for successful retailing.

 

Answer:Explanation of the statement: The easiness of entry into retail business results in stiff competition and better value for the customers. Therefore, a retail store manager needs to have a clear mission and vision for the retail store. Right now, we need small businesses to boost the sagging economy.  But it’s tough going for small businesses. To see where small business owners are facing challenges, I have called on the CarolRoth.com contributor network of entrepreneurs and experts to provide what they believe are the biggest challenges that small businesses need to overcome right now and some suggested solutions. Their answers are presented below in no particular order so that you can help stack the odds of succe

 

 

 

 

  1. 2. What are the various advantages and disadvantages of standardization?

 

Answer:Standardization is the process by which a company makes it methods, especially its production processes, uniform throughout its organization. Standardization helps cut costs by eliminating duplicated effort and allows a company to take advantage of economies of scale when purchasing supplies. However, some advantages may be lost when a company decided to standardize its operations. Standardized Test refers

 

 

 

 

 

  1. 3. Elaborate the quality control procedure in detail.

 

Answer:Most quality management systems are designed with customers’ satisfaction in mind. It is the procedures, processes, organization, and resources that are needed to keep the organization focused on its goals and the activities it puts in place to achieve its goals. Often these techniques lead to higher levels of customer satisfaction because organizations have developed products, services and programs that not only please customers, but also ensured the consistent delivery of what it promised.

 

 

 

  1. 4. “Retailers have an option to plan, assemble and modify as per their particular space specifications”. In the light of this statement, explain different kinds of retail shelves used in a store.

 

Answer:Retail store storage space is available in various varieties and sizes. It may have one shelf, closed at the back, and long-span or wide-span options to select from. Each shelf has its own merits and demerits. The retail world is extremely competitive. With new stores opening all thetime, you can never rest on your laurels; you must constantly strive todifferentiate yourself from the competition. That’s why you seek excellencein all

 

 

 

 

  1. 5. Elaborate different preservation techniques which can be used for different kinds of goods in a store.

 

Answer:Food preservation usually involves preventing the growth of bacteria, fungi (such as yeasts), or other micro-organisms (although some methods work by introducing benign bacteria or fungi to the food), as well as retarding the oxidation of fats that cause rancidity. Food preservation may also include processes that inhibit visual deterioration, such as the enzymatic browning reaction in apples after they are cut during food preparation.

 

Many processes designed to preserve food will

 

 

 

 

  1. 6. Write short notes on:

 

  1. a) Ergonomics:Ergonomics is about designing for people, wherever they interact with products, systems or processes. We usually don’t notice good design (unless perhaps, it’s exceptional) because it gives us no cause to, but we do notice poor design. The emphasis within ergonomics is to ensure that designs complement the strengths and abilities of people and minimise the effects of their limitations, rather than forcing them to

 

 

 

  1. b) Carpel Tunnel Syndrome: Carpal tunnel syndrome (CTS) is a median entrapment neuropathy that causes paresthesia, pain, numbness, and other symptoms in the distribution of the median nerve due to its compression at the wrist in the carpal tunnel. The mechanism is not completely understood but can be considered compression of the median nerve traveling through the carpal tunnel. It appears to be caused by a combination of

 

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ML0011-Buying and Merchandising

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ASSIGNMENT

 

DRIVE WINTER 2014
PROGRAM MBADS (SEM 3/SEM 5)

MBAFLEX/ MBA (SEM 3)

PGDROMN (SEM 1)

SUBJECT CODE & NAME ML0011-Buying and Merchandising
BK ID B1762
CREDIT & MARKS 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.

 

 

  1. 1. Explain different areas which are influenced by the merchandise strategy.

 

Answer: While all marketers do not agree on a common definition of marketing strategy, the term generally refers to a company plan that allocates resources in ways to generate profits by positioning products or services and targeting specific consumer groups. Marketing strategy focuses on long-term company objectives and involves planning marketing programs so that they help a company realize its goals. Companies rely on marketing strategies for established product lines or services as well as for new products and services.

 

 

 

 

  1. 2. “Success in Retailing can only be measured by making the most profitable use of the available space at hand”. Explain this statement in context to presentation of the merchandise.

 

Explanation of the statement

 

Answer:Making a profit in multiple retailing is the result of effectively managing constraints such as space, and controlling variable elements such as Cost of Goods Sold. Measurements of success in Merchandising range from simple measures such as like for like sales increase to more useful and meaningful measures like margin %, markdown value and stock turn. If we want to get a truly accurate measurement of profitability we need to look at

 

 

 

 

 

  1. 3. What are the essentials of successful Visual Merchandising?

 

Answer:With competition increasing in each and every field, art forms like visual merchandising are becoming more and more relevant. Visual merchandising is a way of making the arrangement of goods aesthetically appealing to the eyes. Simply put, it is the way a store arranges its goods so that it attracts the attention of the customers. A retailer can use all his creativity and innovative ideas for displaying the goods in an interesting fashion. A retailer needs to improvise continuously and should also have an inclination for keeping up with the

 

 

  1. 4. Define supplier and its types in the area of retailing.

 

Answer:In a supply chain, a vendor, or a seller, is an enterprise that contributes goods or services. Generally, a supply chain vendor manufactures inventory/stock items and sells them to the next link in the chain. Today, the terms refers to a supplier of any good or service.A vendor, or a supplier, is a supply chain management term that means anyone who provides goods or services to a company or individuals. A vendor often manufactures inventoriable items, and sells those items to a customer.  Typically vendors are tracked in either a finance system or a warehouse management system.

 

Vendors are often managed with a vendor

 

 

  1. 5. “A retailer must decide on a procedure to analyze the merchandise performance”. Comment

 

Answer:Evaluation is a methodological area that is closely related to, but distinguishable from more traditional social research. Evaluation utilizes many of the same methodologies used in traditional social research, but because evaluation takes place within a political and organizational context, it requires group skills, management ability, political dexterity, sensitivity to multiple stakeholders and other skills that social research in general does not rely on as much. Here we introduce the idea of evaluation and some of the major terms and issues in the field.

 

 

 

 

  1. 6. What are the different functions performed by the buying department of a retail store?

 

Answer:Most major companies and even some government organizations have a purchasing or procurement department as part of everyday operations. These departments provide a service that is the backbone of many manufacturing, retail, military and other industrial organizations. Many individuals, even some who work for these companies, are unaware of what the purchasing department does, why it exists or what purposes it serves. To understand better what the role of the purchasing department is, consider some functions it

 

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