Fundamentals of Retail E-learning Suite

  • ID: 4581890
  • Training
  • Martec International
1 of 4
This Course is a Self-Paced Suite of 10 Web-Based Training Programs

Background:

Whether sales, marketing, consulting, development or implementation, the vendors whose people know their customer’s industry achieve better results than those that don’t. It can take years for new staff to absorb the required level of knowledge when learning on a project by project basis. This program is designed to help technology companies accelerate this process. Retail Fundamentals started life as an instructor-led program nearly 30 years ago and was first delivered as e-learning 1999. Since then it has been polished and refined every year to become the most used retail industry training program in the world. Over 7,000 people have studied this program and used it to improve their sales, marketing or delivery performance.

Why do this as an e-learning class? For several reasons:

  • An individual can be trained when they join the company rather than when there are enough new hires to support an instructor-led class.
  • It’s cost-effective to train one person at a time.
  • Account managers do not need to take time away from selling to study the program. They can work it around their customer commitments.
  • There are companion classes to teach a comprehensive understanding of retailing and how to use that retail knowledge to practice solution selling more effectively. These collectively help account managers to be more successful.
  • There are no associated travel and lodging expenses.
  • Account managers can re-visit the content to help them in specific situations as the need arises.

Objectives of the Suite:

By the end of this program participants will be able:

  • To explain the key retail trends and retail formats
  • To describe the key processes in a retail business and how they fit together
  • To describe a typical retail organization structure and the likely business pains for each executive
  • To calculate and interpret all the main retail Key Performance Indicators
  • To explain how retailers make their money and the main elements that are impacted by a return on investment calculation
  • To explain the architecture of retail applications and use techniques such as quadrant analysis to identify opportunities in a retail business
  • To explain the main business processes in each main area of the business, namely buying and merchandising, store operations, supply chain management, e-commerce, marketing, finance and to explain human resources.

Course Overview:

The Fundamentals of Retail Suite is a self-paced suite of 10 web-based training programs. Upon payment, an account number and password are issued, which is valid for 1 year. The program takes about 10 hours to study depending on the student and their diligence. Within the purchased period, students can re-visit the material as often as they wish. Each module can be purchased separately at a cost ranging from$4to $68per student (depending on module) for 1 year’s access.

Study Time:

Study time is 10 to 12 hours and individual study sessions are recommended to last no longer than 30 minutes.

READ MORE
Note: Product cover images may vary from those shown
2 of 4

Loading
LOADING...

3 of 4

Program Contents:

1. Retail Background and Trends

  • What is retailing?
    • Retail formats
    • Department stores
    • Mass merchants
    • Large format specialty
    • Small format specialty
    • Food and drug
    • Home shopping
  • Key retail trends
    • Omni-channel retailing
    • International expansion
    • Customer engagement
    • Customer Relationship Management
    • Brands and private label
    • Supply chain
  • Summary
  • Mastery test

2. Overview of Key Retail Processes

  • Overview of key retail processes
  • Merchandise and category management
    • Planning flow
    • Merchandise and category management differences
    • Retail merchandising
    • Category definition
    • Category management
  • Buying
    • Buying activities
    • Open to Buy
  • Marketing
    • Marketing activities
    • Customer Relationship Management
  • Supply chain management
    • What is supply chain management?
    • The merchandise flow
    • Vendor collaboration
  • Store operations
    • Key activities
  • E-commerce
    • E-commerce activities
  • Summary
  • Mastery test

3. Retail Organization

  • Retail organization structure
  • CEO’s pains
  • CXO pains
  • CXO bonuses
  • Merchandise management retailers
  • Buying and merchandising structure
  • Category management retailers
    • Category management structure
  • Both merchandise management and category management retailers
    • Store operations
    • Finance
    • Marketing
    • E-commerce
    • Warehouse and distribution
    • IT structure
  • Capex decision making structure
  • Mastery test

4. Retail Key Performance Indicators

  • Introduction to retail KPIs
    • Sales KPIs
    • Sales vs last year
    • Sales vs plan
    • Comp store/same store sales/like for like
    • Sales per square foot/metre
    • Sales per linear foot/metre
    • Sell through
  • Inventory KPIs
    • Inventory turn
    • Availability/in stock %
    • Fresh stock percent
    • Weeks of supply
    • Shrinkage
  • Margin KPIs
    • Gross margin
    • Gross margin %
    • Markdowns
    • Markup
    • GMROI
  • Marketing KPIs
    • Market share
    • Share of the purse/wallet
  • KPIs for omni-channel retailing
    • Gross margin return on channel - GMROCH and net margin return on channel -NMROCH
    • Gross margin return on customer segment -GMROCu and net margin return on customer segment -NMROCu
  • Average US retail KPIs by segment
  • Average European retail KPIs by segment
  • Using KPIs for account planning
  • KPI analysis of accounts
  • Mastery test

5. Retail Financials

  • Retail profit model
    • Retail profit and loss account
    • Average retail profit before tax
    • Retail profit model
    • Operating expenses
  • Balance sheet
    • Balance sheet essentials
    • Current assets
    • Fixed assets
    • Liabilities
    • Equity and retained profits
    • Return on Net Assets
    • Asset utilization
  • Industry profitability drivers
    • Building retail sales and profitability
    • Maximizing cash flow and profits
    • Balancing gross margins, payment terms and inventory turns
  • Retail and cost method of accounting
    • Definitions
    • Advantages and disadvantages of retail method
    • Advantages and disadvantages of cost method
  • Summary
  • Mastery test

6. Retail IT Architecture

  • High level application architecture
    • Head quarters
    • Store systems
    • Sales audit and polling
    • CRM/marketing database
    • Loss prevention
    • Logistics
    • Finance
    • Human resources
    • Store portal
    • Product Lifecycle Management
    • Call center
    • Merchandise optimization
    • Systems implications
  • Application quadrant analysis
    • Strategic
    • Key operational
    • Potential
    • Maintenance
  • Application quadrant analysis
    • Grocery
    • Mixed goods
    • Fashion/specialty
    • Department stores
  • Mastery test

7 . Buying, Category and Merchandise Management

  • Merchandise and category management
    • Merchandise and category management differences
    • Retail merchandising
    • Category definition
    • Category management
  • Merchandise and category management organization structures
    • Merchandise management organization structure
    • Category management organization structure
    • Key Performance Indicators
  • Key buying, merchandise and category management processes part 1
    • Merchandise types
    • Merchandise hierarchy
    • Retail seasons
    • Season timelines
    • Planning flow
    • Merchandise planning
    • Assortment/range planning
    • Private label
    • Linear supply chain
    • The wedge - store size vs assortment composition
  • Key buying, merchandise and category management processes part 2
    • Merchandise arrangement
    • Open to Buy
    • How much stock is needed?
    • Replenishment basic model
    • Demand forecasting
    • Forecasting methods
    • Sales and stock management
    • Omni-channel buying, merchandising and category management
  • Summary
  • Mastery test

8. Store Operations

  • Store operations division
  • Organization structure
  • KPIs used for store operations
  • Store operations strategy and tactics
  • Space management
  • Store
  • administration and physical plant maintenance
  • Loss prevention
  • Store operations and human resources
  • Summary
  • Mastery test

9. E-Commerce

  • What is omni-
  • channel retailing
  • Omni-channel objectives
  • E-commerce trends and issues
  • E-commerce organization structure
  • Organizational issues
  • KPIs
  • E-commerce performance management
  • How e-commerce changes the role of the store
  • Inventory management online
  • Endless aisle - how feasible is it?
  • Using omni-channel insights
  • Omni-channel warehouse functions
  • Summary
  • Mastery test

10. Retail Marketing

  • Marketing structure
  • Marketing KPIs
  • Marketing activities
  • Customer Relationship Management
    • Loyalty vs retention
    • Customers are not created equal
    • Spending by decile
    • Strategic CRM
    • Segmentation by customer
    • Customer analysis
  • Summary
  • Mastery test

Stretching and Testing:

At the end of each module there is a test of the participant’s knowledge and at the end of the program there is an overall mastery test. Test scores are recorded in the Learning Management System and are available to management to review achievement. Certificates are awarded based on satisfactory pass marks.

Note: Product cover images may vary from those shown
4 of 4
Note: Product cover images may vary from those shown
5 of 4

Target Audience:

  • Anyone who needs to understand the terminology, organization structures, responsibilities, financials, key performance indicators, key business processes, use of IT and key trends across retail to better sell to and support their retail customers.
Note: Product cover images may vary from those shown
Adroll
adroll