Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from origin to consumption. It involves coordinating and integrating all the activities involved in getting a product or service from its inception to the end consumer. Key Characteristics / Core Concepts Planning and forecasting demand Sourcing and … Read more
Shop management refers to the overall administration and organization of a retail store or workshop. It encompasses all the activities required to run a successful and efficient business, from inventory control to customer service. Key Characteristics / Core Concepts Inventory Management: Tracking stock levels, ordering, and managing storage. Sales & Customer Service: Processing transactions, managing … Read more
Resource management is the process of planning, organizing, allocating, and controlling resources to achieve organizational goals efficiently and effectively. It involves making optimal use of available resources, which can include anything from financial capital and human talent to time, materials, and information technology. Key Characteristics / Core Concepts Planning: Forecasting future resource needs and developing … Read more
Retail management encompasses all activities involved in running a retail business, from sourcing products and pricing them to managing staff and enhancing the customer experience. It’s about effectively overseeing every aspect of a store or online retail operation to maximize profits and customer satisfaction. Key Characteristics / Core Concepts Merchandising: Sourcing, pricing, and displaying products … Read more
Inventory management is the process of overseeing the flow of goods from purchase to sale. It involves tracking stock levels, optimizing storage, and ensuring timely replenishment to meet customer demand. Key Characteristics / Core Concepts Stock Control: Maintaining accurate records of inventory levels. Demand Forecasting: Predicting future product needs to avoid shortages or surpluses. Storage … Read more