Discuss about the Business Operations of Oz Supermarket.
The major aim of this report is to portray few recommending strategies for Oz Supermarket, which is a newly developed retail chain aims to provide the best services to its customers on a regular basis. Oz Supermarket has to be concerned about provide improved services as well as products so that they can build huge customer base for this organization along with generating good revenue. Thus, this report conveys three major recommendations in this regard along with providing an outline or the description of the business operations followed by this retail chain.
Oz Supermarket is the newly formed retail chain, which has been mainly set up at the check up points for reducing the exit queues. Moreover, it encourages customers for coming in, grabbing what they desire to buy and then leaving the store. This retail organization has embarked few significant business operations. First of all, this organization only stocks non-perishable, stationery and household goods. On the other hand, this organization has entirely adopted the PayWave technology and it does not accept cash. Thus, the customers generally bag their items as they shop. The customers exists merely the shop while shopping has been completed. Therefore, the total amount is charged automatically to the card utilized as the customer walks out of the store. Apart from that, the without a PayWave card, customers can approach the front desk for putting a temporary cash deposit
After discussing the entire business operations of Oz supermarket, it can be seen that there are few certain areas within the business activities of the retail chain where recommending strategies should be implemented thoroughly. These are as follows:
Increase in stock Variety – According to the stock of this retail, this organizations only stocks the non-perishable, stationery as well as household goods. However, this limiting cost can limit the way of earning revenues for the retail organization. Therefore, this organization should enhance its stock variety as well as the number of items within the individual stocks (Tian & Schwartz, 2015). Nevertheless, in this regard, this retail chain should incorporate those products into its stock, whose market demand is high. This retail organization should focus on those facts because, Oz Supermarket is completely a new retail enterprise and it is aiming to build its reputation as a retail farm as well as generate good revenue at the end (Ciravegna & Brenes, 2016). Therefore, in this regard, this organization should also stock other kinds of goods which have huge demand in market such as clothes, fashion products, accessories, technical equipments, books and other products (Jia et al., 2015). Moreover, the enhancement in the stock of this retail organization would ultimately result in increasing the customer base for this retail chain which is the ultimate goal of this company as a newly developed retail chain.
Managing the Security concerns for the store and customers and reducing extra overheads – Oz Supermarket should be properly take care about the security issues those can be the vital concerns for this retail organization as well as the potential customers of this retail chain. Thus, in this regard, this retail enterprise should focus managing both the security factors for the retail store and the customers of the company as well (Tolstoy, Jonsson & Sharma, 2016). In case of managing the store security, it can help in avoiding the shrinkage of the inventory. Moreover, it depends on the location, products and the size of the store. Therefore, this retail chain can attach the electronic tags on its products those are sensed at the entrance of the store and exits by the sensors for the detection of theft (Kohlbacher, 2014). Moreover, this retail supermarket must have to focus more on resolving the security issues associated with the PayWave technology (da Veiga et al., 2016). It has been seen that this technology has few consequences along with its advantages. PIN code is not requested in case of the contactless transactions through PayWave technology. Thus the means of protection in this case have to face a boundary to the encryption keys formed by a terminal as well as a card (Muslimah & Simatupang, 2014). In this regard, the custom terminal of the retail chain should employ the encryption keys obtained from an acquiring bank as well as a payment system. Therefore, this retail must be focused on this matter in order to enhance the security assurance for the customers of Oz supermarket as this organization is a newly developed retail chain (Prasad, 2016). However, by being focused on this fact would ultimately help the retail to overcome the few issues with the PayWave cards, which can satisfy its customers regarding their security concerns while shopping in Oz Supermarket (Dean, Fath & Chen, 2014). On the other hand, this organization should not tag every item with the RFID chip as it causes the additional overheads. Most importantly, the store absorbs this cost in the customer interests who are in rush. Therefore, Oz Supermarket should tag those items with this chip which are the most valuable and demanding products for the customers.
Addressing Data Flooding – Every successful reading of the tag attached with the retail items is not useful for the business purposes (Dean, Fath & Chen, 2014). The huge amount of data can be evolved, which is not ultimately useful in order to manage inventory or other applications. For an instance, a consumer moving a product from one shelf to another shelf or a pallet load of articles, which passes many readers while being moved in a warehouse, are the events those do not produce data, which is meaningful to an inventory control system. Therefore, in this regard, event filtering is necessary for reducing data inflow to a meaningful depiction to move goods passing a threshold (Song & Kang, 2014). Therefore, middleware should be performed while filtering from the redundant and noisy raw data to the significant processed data (Tolstoy, Jonsson & Sharma, 2016). Moreover, Oz Supermarket should also utilize a RFID tag for addressing international trade concerns, which is operational within all of the international frequency domains.
From the entire discussion made in this report, it can be stated that in spite of being a newly formed retail company, Oz Supermarket can be capable of provide worthy and proper retail services to its customers because of the implementation of advanced technologies like PayWave technology. However, this report has highlighted and demonstrated three recommendations those should be incorporated or followed while conducting its retail business operations in future. These recommending strategies would simply help this organization for creating a huge customer base and significant customer satisfaction.
Customer Service is always about providing the customers what they want, while they want, in the best possible manner (Sharma & Lambert, 2013). An organization would have a greater scope of increasing and keeping its customer base, if this business provides good customer service. Thus, from the given scenario, it can be seen that Oz supermarket has implemented the PayWave technology, PayWave card system which are one of the safest payment system for the customers. Moreover, this organization also has allowed the shopping summary stations those placed strategically throughout the stores permitting customers for viewing in detailed list of items that is in their trolley. All of these factors can significantly play huge role in providing a good customer service to its customers (Aryee et al., 2015). However, this retail chain should consider few suggestion regarding improving its customer service.
In order to build a significant customer service, it is necessary for this retail organization to build a good relationship through effective communication with its customers. As the Oz Supermarket is completely new in this industry, they should try hard to recognize the common ground-like shared interests (Celuch & Robinson, 2016). Moreover, this retail chain should always be concerned about the issues faced by the customers so that the issues could be resolved as early as possible. It would help the retail organization to retain the customer satisfaction factor (Kärnä, 2014). Most importantly, Oz Supermarket should always provide the scope of knowing this retail chain properly to its customers. Providing detailed information about Oz Supermarket can be proven to go long way as well as can also reduce the concerns with safety, trust or accessibility (Pitt et al., 2016). On the other hand, Bringing special services, knowledge as well as face-to-face interactions could help together for creating an authentic community for the customers of this organization. It could be the interactive part of the business operations of this retail chain. As Oz Supermarket is a new retail chain, thus, this retail enterprise can give special offers in order to seek the attention of the customers in terms of creating a strong customer base for this retail chain (Song & Kang, 2014). This retail organization should be focused on taking the follow-up after resolving the issues encountered with the customers. Apart from that, the customers of this retail organization would feel more valued if Oz supermarket treats them as the essential members of a community (Tian & Schwartz, 2015). Therefore, this organization can bring its customers together in several ways such as trade conventions, trade shows, social media, interactive websites as well as webinars.
Being a newly formed retail chain, Oz Supermarket should aim to improvise more and more its business services as well as its operation offerings (Tolstoy, Jonsson & Sharma, 2016). Thus, in this regard, Oz supermarket has to focus on getting three major factors such as customer feedback, product quality review and process quality assurance.
Customer Feedback – Customer feedback always plays a crucial part in order to provide the right path to the organizations in terms of conducting their business operations (Muslimah & Simatupang, 2014). Therefore, Oz Supermarket should always provide the scope to the customers in terms of providing feedback regarding their satisfaction factor about both the quality of the product as well as the services provided by this retail chain (da Veiga et al., 2016). Most important thing associated with this factor is that, Oz Supermarket has be very focused in conducting its business operations because any wrong step can ruin its business opportunities. Thus, in this regard, the customer feedback can provide this organization an assessment and an evaluation as well for its business operations (Dean, Fath & Chen, 2014).
Product Quality Review – It can also be an essential and important way for improving the business service or operation offerings of Oz Supermarket (Song & Kang, 2014). PQR or Product quality Review is the rolling as well as periodic quality reviews of all licensed medicinal products incorporating only products those are conducted with the goal to verify the consistency of the existing process, the appropriateness of the current specifications for both the finished and starting materials in terms of identifying product improvements and any trends (Celuch & Robinson, 2016). Moreover, it can also be an effective quality improvement tool for enhancing the quality of the product.
Process Quality Assurance – It is such an area for Oz Supermarket that can support the delivery of the high-quality retail products by providing the store managers and staffs at all levels with proper visibility into as well as feedback on, processes and associated work products throughout the life of the project (Sharma & Lambert, 2013). Therefore, the practices in process quality assurance area for this retail chain can assure that the planned processes are executed while thee practices in the area of verification process assure that the specified requirements are satisfied (da Veiga et al., 2016). These two process areas can on occasion address the similar work product but from different aspects. Thus, the retail operations of Oz supermarket should take the benefit of the overlap for minimizing duplication of effort while taking care for maintaining distinct perspectives (Tolstoy, Jonsson & Sharma, 2016). Therefore, for this retail chain, the process quality assurance is very important for the success of Oz Supermarket.
References
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