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What do you know about the essential commodities act in the state or outside the state? |
What do you know about the essential services maintenance act in the state or outside the state?
What do you know about human rights in the state and outside the state?
What is the difference between charges of misconduct, breach of judicial discipline, misuse of authority, and dereliction of duty?
What are various essential departments in the state and outside the state?
Addendum, corrigendum, erratum, sue motto: What is the difference?
What do you know about various service rules in the state and outside the state?
Starting Your Business |
Sales & Marketing
Cash Flow & Finances
Equipment & Technology
What should others know? |
Qureshi Unviersity www.qureshiuniversity.org is not a retail shop.
At the same time if anyone needs guidelines for retail shop here are guidelines.
Why you should not go for a retail shop?
Most states whimsical opening of retail shop conflicts with government departments in state. Ration locations or equivalent are there in various states. Government department of food and supplies is there. There are 110 government departments in every state. there are 10 essential departments in every state.
There may not be requirement for such a retail shop at mentioned location.
Questions that needs to be answered before opening a retail shop.
Who forwarded requirement of such a retail shop from specific government department in the state?
What types of retail shop needs to be opened with specific products, location in the state? Who is expected to inspect this retail shop in the state and how often?
What exactly will be inspected during inspection of retail shop?
If there are any retail shop violations to the owner what are details of such violations?
What are some of the issues?
Curbing black marketing, profiteering and hoarding
Mandatory displaying of rate-lists at retail shop.
Adherence to kitchen hygiene norms at retail shop.
Verified the approved prices and quality of products offered there.
Timing retail shop is open to public.
Timing each individual is on duty at the mentioned retail shop.
What location we should analyze feasibility of retail shop?
We will take example of 5058 N Sheridan Rd, Chicago, IL 60640.
This location is adjacent to Shan Restaurant 5060 N Sheridan Rd, Chicago, IL 60640.
On August 10, 2018 advertisement at this location is displayed.
Space for lease.
5058 N Sheridan Rd, Chicago, IL 60640.
Call Mike Rayan 7734066550
I came across the advertisement.
Space for Lease.
5058 N Sheridan Rd, Chicago, IL 60640.
Call Mike Rayan 7734066550
Can you give a brief introduction about yourself?
Where is your profile?
What is your profile?
Where is your profile displayed on the Internet?
Where did you go to high school?
Where did you go to college?
What subjects did you study?
What are your responsibilities?
Where are you now?
|Definition, Types, and Examples of Retail|
What is Inventory Management? |
What are the types of inventory management?
What is a store inventory?
What is the role of inventory management?
What is difference between inventory and stock?
How does inventory management work?
What are the 3 types of inventory?
What are the types of inventory control?
How do you create an inventory?
How do you manage inventory in retail?
How do you calculate inventory in a warehouse?
What are the different types of inventory?
5 Basic types of inventories are raw materials, work-in-progress, finished goods, packing material and MRO supplies. Other such classifications on various bases are goods in transit, buffer stock, anticipatory stock, decoupling inventory, and cycle inventory.
Raw materials inventory – Raw materials inventory are raw materials that your business changes to produce its goods and/or services. For example, if you manage an ice cream business, raw materials inventory could include milk you use to make ice cream.
Work-in-process inventory – Work-in-process inventory is any unfinished goods that your business has made. If your business makes and sells chairs, work-in-process inventory would include any unfinished chairs on hand that your business has made.
Finished goods inventory – Finished goods inventory includes any finished goods that are ready to sell. If you have a retail business that buys and sells toys, the toys you buy would be finished goods inventory.
Retailers and distributors
Retailers and distributors don’t usually have raw materials inventory and unfinished goods inventory. If you’re a retailer or distributor, most inventory you have is finished goods inventory, such as:
Take a look at this.
Raw materials are inventory items that are used in themanufacturer's conversion process to produce components,subassemblies, or finished products. These inventory items may becommodities or extracted materials that the firm or its subsidiary hasproduced or extracted. They also may be objects or elements that the firmhas purchased from outside the organization. Even if the item is partiallyassembled or is considered a finished good to the supplier, the purchasermay classify it as a raw material if his or her firm had no input into itsproduction. Typically, raw materials are commodities such as ore, grain,minerals, petroleum, chemicals, paper, wood, paint, steel, and food items.However, items such as nuts and bolts, ball bearings, key stock, casters,seats, wheels, and even engines may be regarded as raw materials if theyare purchased from outside the firm.
The bill-of-materials file in a material requirements planning system(MRP) or a manufacturing resource planning (MRP II) system utilizes a toolknown as a product structure tree to clarify the relationship among itsinventory items and provide a basis for filling out, or"exploding," the master production schedule. Consider anexample of a rolling cart. This cart consists of a top that is pressedfrom a sheet of steel, a frame formed from four steel bars, and a legassembly consisting of four legs, rolled from sheet steel, each with acaster attached. An example of this cart's product structure treeis presented in Figure 1.
Generally, raw materials are used in the manufacture of components. Thesecomponents are then incorporated into the final product or become part ofa subassembly. Subassemblies are then used to manufacture or assemble thefinal product. A part that goes into making another part is known as acomponent, while the part it goes into is known as its parent. Any itemthat does not have a component is regarded as a raw material or purchaseditem. From the product structure tree it is apparent that the rollingcart's raw materials are steel, bars, wheels, ball bearings, axles,and caster frames.
Work-in-process (WIP) is made up of all the materials, parts (components),assemblies, and subassemblies that are being processed or are waiting tobe processed within the system. This generally includes allmaterial—from raw material that has been released for initialprocessing up to material that has been completely processed and isawaiting final inspection and acceptance before inclusion in finishedgoods.
Any item that has a parent but is not a raw material is considered to bework-in-process. A glance at the rolling cart product structure treeexample reveals that work-in-process in this situation consists of tops,leg assemblies, frames, legs, and casters. Actually, the leg assembly andcasters are labeled as subassemblies because the leg assembly consists oflegs and casters and the casters are assembled from wheels, ball bearings,axles, and caster frames.
A finished good is a completed part that is ready for a customer order.Therefore, finished goods inventory is the stock of completed products.These goods have been inspected and have passed final inspectionrequirements so that they can be transferred out ofwork-in-process and into finished goods inventory. From this point,finished goods can be sold directly to their final user, sold toretailers, sold to wholesalers, sent to distribution centers, or held inanticipation of a customer order.
Any item that does not have a parent can be classified as a finished good.By looking at the rolling cart product structure tree example one candetermine that the finished good in this case is a cart.
Inventories can be further classified according to the purpose they serve.These types include transit inventory, buffer inventory, anticipationinventory, decoupling inventory, cycle inventory, and MRO goods inventory.Some of these also are know by other names, such as speculative inventory,safety inventory, and seasonal inventory. We already have brieflydiscussed some of the implications of a few of these inventory types, butwill now discuss each in more detail.
Transit inventories result from the need to transport items or materialfrom one location to another, and from the fact that there is sometransportation time involved in getting from one location to another.Sometimes this is referred to as pipeline inventory. Merchandise shippedby truck or rail can sometimes take days or even weeks to go from aregional warehouse to a retail facility. Some large firms, such asautomobile manufacturers, employ freight consolidators to pool theirtransit inventories coming from various locations into one shipping sourcein order to take advantage of economies of scale. Of course, this cangreatly increase the transit time for these inventories, hence an increasein the size of the inventory in transit.
As previously stated, inventory is sometimes used to protect against theuncertainties of supply and demand, as well as unpredictable events suchas poor delivery reliability or poor quality of a supplier'sproducts. These inventory cushions are often referred to as safety stock.Safety stock or buffer inventory is any amount held on hand that is overand above that currently needed to meet demand. Generally, the higher thelevel of buffer inventory, the better the firm's customer service.This occurs because the firm suffers fewer "stock-outs"(when a customer's order cannot be immediately filled from existinginventory) and has less need to backorder the item, make the customer waituntil the next order cycle, or even worse, cause the customer to leaveempty-handed to find another supplier. Obviously, the better the customerservice the greater the likelihood of customer satisfaction.
Oftentimes, firms will purchase and hold inventory that is in excess oftheir current need in anticipation of a possible future event. Such eventsmay include a price increase, a seasonal increase in demand, or even animpending labor strike. This tactic is commonly used by retailers, whoroutinely build up inventory months before the demand for their productswill be unusually high (i.e., at Halloween, Christmas, or theback-to-school season). For manufacturers, anticipation inventory allowsthem to build up inventory when demand is low (also keeping workers busyduring slack times) so that when demand picks up the increased inventorywill be slowly depleted and the firm does not have to react by increasingproduction time (along with the subsequent increase in hiring, training,and other associated labor costs). Therefore, the firm has avoided bothexcessive overtime due to increased demand and hiring costs due toincreased demand. It also has avoided layoff costs associated withproduction cut-backs, or worse, the idling or shutting down of facilities.This process is sometimes called "smoothing" because itsmoothes the peaks and valleys in demand, allowing the firm to maintain aconstant level of output and a stable workforce.
Very rarely, if ever, will one see a production facility where everymachine in the process produces at exactly the same rate. In fact, onemachine may process parts several times faster than the machines in frontof or behind it. Yet, if one walks through the plant it may seem that allmachines are running smoothly at the same time. It also could be possiblethat while passing through the plant, one notices several machines areunder repair or are undergoing some form of preventive maintenance. Evenso, this does not seem to interrupt the flow of work-in-process throughthe system. The reason for this is the existence of an inventory of partsbetween machines, a decoupling inventory that serves as a shock absorber,cushioning the system against production irregularities. As such it"decouples" or disengages the plant's dependence uponthe sequential requirements of the system (i.e., one machine feeds partsto the next machine).
The more inventory a firm carries as a decoupling inventory between thevarious stages in its manufacturing system (or even distribution system),the less coordination is needed to keep the system running smoothly.Naturally, logic would dictate that an infinite amount of decouplinginventory would not keep the system running in peak form. A balance can bereached that will allow the plant to run relatively smoothly withoutmaintaining an absurd level of inventory. The cost of efficiency must beweighed against the cost of carrying excess inventory so that there is anoptimum balance between inventory level and coordination within thesystem.
Those who are familiar with the concept of economic order quantity (EOQ)know that the EOQ is an attempt to balance inventory holding or carryingcosts with the costs incurred from ordering or setting up machinery. Whenlarge quantities are ordered or produced, inventory holding costs areincreased, but ordering/setup costs decrease. Conversely, when lot sizesdecrease, inventory holding/carrying costs decrease, but the cost ofordering/setup increases since more orders/setups are required to meetdemand. When the two costs are equal (holding/carrying costs andordering/setup costs) the total cost (the sum of the two costs) isminimized. Cycle inventories, sometimes called lot-size inventories,result from this process. Usually, excess material is ordered and,consequently, held in inventory in an effort to reach this minimizationpoint. Hence, cycle inventory results from ordering in batches or lotsizes rather than ordering material strictly as needed.
MRO GOODS INVENTORY
Maintenance, repair, and operating supplies, or MRO goods, are items thatare used to support and maintain the production process and itsinfrastructure. These goods are usually consumed as a result of theproduction process but are not directly a part of the finished product.Examples of MRO goods include oils, lubricants, coolants, janitorialsupplies, uniforms, gloves, packing material, tools, nuts, bolts, screws,shim stock, and key stock. Even office supplies such as staples, pens andpencils, copier paper, and toner are considered part of MRO goodsinventory.
In their book Managing Business Process Flows: Principles of Operations Management, Anupindi, Chopra, Deshmukh, Van Mieghem, and Zemel discuss a final typeof inventory known as theoretical inventory. They describe theoreticalinventory as the average inventory for a given throughput assuming that noWIP item had to wait in a buffer. This would obviously be an idealsituation where inflow, processing, and outflow rates were all equal atany point in time. Unless one has a single process system, there alwayswill be some inventory within the system. Theoretical inventory is ameasure of this inventory (i.e., it represents the minimum inventoryneeded for goods to flow through the system without waiting). The authorsformally define it as the minimum amount of inventory necessary tomaintain a process throughput of R, expressed as: Theoretical Inventory = Throughput × Theoretical Flow Time I th = R × T th In this equation, theoretical flow time equals the sum of all activitytimes (not wait time) required to process one unit. Therefore, WIP willequal theoretical inventory whenever actual process flow time equalstheoretical flow time.
Inventory exists in various categories as a result of its position in theproduction process (raw material, work-in-process, and finished goods) andaccording to the function it serves within the system (transit inventory,buffer inventory, anticipation inventory, decoupling inventory, cycleinventory, and MRO goods inventory). As such, the purpose of each seems tobe that of maintaining a high level of customer service or part of anattempt to minimize overall costs.
How to Inventory a Retail Store
Ready-Made Meat Halal
Retail stores, big or small, should be inventoried on a regular basis. While you may have software that calculates your current inventory, unless it is confirmed on a visual basis, you may not have an exact idea of your current stock.
Print out a current inventory list.
Assign each employee to a different section of the store.
Go through each item on the list and count the current stock.
Mark down on your printout how many items you actually have.
Go through any damages or returns you may have had.
Reconcile the hand count with the printed count.
Update your inventory software with the correct amounts.
What Is inventory management?
Inventory management is the management of inventory and stock. As an element of supply chain management, inventory management includes aspects such as controlling and overseeing ordering inventory, storage of inventory, and controlling the amount of product for sale.
Inventory Management Strategies
Challenges and Best Practices of Inventory Management
The Evolution of Inventory Management Software
What is a store inventory?
Inventory is an accounting term that refers to goods that are in various stages of being made ready for sale, including: Finished goods (that are available to be sold) Work-in-progress (meaning in the process of being made)
How do I calculate the “right amount” of inventory to stock?
How do I determine the “right price” for my inventory?
How do I know the reorder point for new inventory?
How do I figure out the right place to sell and distribute my inventory?
What is the best tool for optimal inventory management?
Below is a list of some of the most popular automated software solutions:
Plex Inventory Management
What Is Store Operations Management?
•Hiring, firing, training, and managing of employees
•Forecasting sales and budgeting
•Oversight of inventory and loss prevention
•Oversight of all internal controls, such as for cash handling
•All aspects of customer service
•Internal and external communication
Inventory / Retail
How do you create an inventory?
Method 2 Creating from Scratch
2.Click Blank workbook.
3.Create your inventory list headers.
4.Adjust the column widths.
5.Enter an item's inventory number.
6.Add an item's name.
7.Determine the item's cost per unit.
8.Add the total number of that item that you have on-hand.
How do you manage inventory in retail?
Good inventory management saves you money in a few critical ways:
1.Avoid Spoilage. If you're selling a product that has an expiry date (like food or makeup), there's a very real chance it will go bad if you don't sell it in time. ...
2.Avoid Dead Stock.
3.Save on Storage Costs.
How do you calculate inventory in a warehouse?
Cycle counting is a popular inventory counting solution that allows businesses to count a number of items in a number of areas within the warehouse without having to count the entire inventory. Cycle counting is a sampling technique where count of a certain number of items infers the count for the whole warehouse.
What items are included in grocery?
Categories of Grocery Shopping Items
•Meat. Seafood such as fish and shellfish are part of the meat category.
•Dairy. credit: Goodshoot/Goodshoot/Getty Images.
•Frozen Foods. credit: Photodisc/Photodisc/Getty Images.
•Bread, Cereal, Rice and Pasta. credit: Stockbyte/Stockbyte/Getty Images.
•Staples and Miscellaneous Foods.
Food Grains / Grain Flour
What foods are in the Grains Group?
Juices, Energy Drink
Organic baby food
Chips, Crackers, Cookies, Chocolate
Milk and milk products
Party Goods, Stationery, Crafts
Toys, Books, Baby/Infant, Fashion Accessories, Softlines, Floral, Valentine, Easter, Halloween, Thanksgiving/Fall Seasonal, Christmas email@example.com
Food, Candy, DSD, HBC
Gifts, Household Consumables, Housewares, Pets, Hardware, Electronics
6 Types of Inventory and Sales Reports to Use in Your Retail Store
8 Inventory Management Techniques _______
What do you pack in a toiletries bag?
The Toiletry Bag Basics
•Toothbrush, toothpaste, floss, mouthwash.
•Hair brush or comb, hair ties, barrettes/bobby pins.
•Shampoo and conditioner - Dr.
•Sunscreen and face lotion with SPF.
•Make up packed in a wipeable wristlet.
•Face wash and/or makeup remover wipes and q-tips.
•Night time Moisturizer/Lotion.
There are business activities regulated by the State of Illinois that may be exempt from City licensing. Please review our Business License Exemptions page for a sample list of occupations/professions which do not require a Chicago Business License.
Retail means selling to the public. It can be a storefront, office, or online business. The retail business might consist of a single person with no employees, or it might be a small company where several employees each take on multiple roles. Or, it might be a large store or chain of stores with multiple departments and specialized positions. |
Retail Job Responsibilities
To some extent, your duties in a retail position depend on what you are selling. Retail staff must be familiar with both the products they sell and the needs of their customers. For someone selling camping gear, for example, it is not enough to know the difference between types of sleeping bags. To give truly excellent customer service, it is also helpful to have tried both of them.
But all retail jobs, regardless of industry or market, are more alike than different. While there are exceptions, such as stocking clerks or some purely managerial positions, most retail jobs involve a mix of working the cash register and providing customer service, plus some subtle but effective loss prevention. Some jobs include upselling, but many do not.
Job titles tend to vary somewhat from one company to the next. The same job might be called a “front end associate,” a “cashier,” or a “checker,” depending on who the employer is. Conversely, duties might be divided differently in different businesses.
For example, in one store, cashier and sales associate positions might be strictly separate, while in another, the same personnel might fill both roles at the same time, or perhaps on alternate shifts. And yet, there are certain job categories that tend to be consistent from one business to another, at least above a certain size.
If you have succeeded at one retail establishment, you will likely succeed with a similar title elsewhere.
Top Retail Job Titles
New hires often find themselves working as cashiers, stockers, or sales associates, although these can be long-term positions for some employees. Some people, for example, work as cashiers for years while earning regular raises and increased benefits. These are not jobs without skill. Both cashiers and sales associates function as the public face of the company and provide most of the customer service within the store. Stockers might not interact with customers (some work while the store is closed), but they must be fast and accurate.
These are entry-level positions because they don’t involve supervising anyone.
How to Enter the Retail World
If you have great customer service, organizational, or leadership skills, retail sales or merchandising might well prove to be your dream career. Here’s how to get a retail job, a list of the retail skills you’ll need, what to expect in retail job interviews, and the top 10 best hourly retail jobs.
15 Quick Tips to Get Hired Fast
Retail Skills List and Examples
Top 10 Best Hourly Retail Jobs
What are the different positions in a retail store?
Search Retail Job Listings
Retail job interview questions and answers include:
What makes you suitable for this retail job?
Focus on specific experience and training in your career history. Identify things you have done that match the job you are interviewing for. Emphasize what qualifies you for this particular job and how you can add value to the job and company.
What transferable skills have you gained in your previous jobs? Look at the job tasks such as buying merchandise, customer care, and highlight your experience in performing these.
If there are areas of the job function that you do not yet have experience in then highlight what skills you have that will facilitate learning and succeeding in these tasks. For example your ability to remain calm under pressure and listen carefully will help you in a customer complaints function.
What qualities do you consider most important in this retail job?
Generally good communication skills, flexibility, a strong customer service orientation and a high energy level are key to success in a retail position. Go into more detail by expanding on these qualities.
For example, good communication includes excellent and active listening skills, the ability to ask the right questions to get clarity on what the customer is asking and to be able to respond to the customer in a concise and easily understood manner.
What interests you about selling to customers?
Try to be specific in your interview answer to these type of retail job interview questions. Avoid generalizations such as "I enjoy people", rather say something along the lines of:
"I enjoy talking to the customer and finding out exactly what they are looking for. I like the challenge of meeting the customer's needs, making useful suggestions and making sure the customer leaves satisfied."
How do you go about familiarizing yourself with the products you sell?
Product knowledge is key to providing good customer service. There are a number of ways that product knowledge can be learned such as informational material, on-line information, other employees and training. Focus on your proactive attempts to learn about the products including asking questions and reading up about the products.
Why are you interested in a position at this company?
Detail why you want a job with this specific company. Base your answer to this retail job interview question on what you have learned about the company from your interview research. Find out the information you need before your interview at preparing for a job interview.
How does this company differ from the competition? What about the way it operates attracts you? What interesting innovations have the company introduced such as customer loyalty programs and on-line services.
The company will expect you to have done your homework. Know their main competitors and be aware of current industry trends. The internet is a useful source of information. You can find good online resources to help you with this.
Trade magazines, such as "The Grocer" or "Marketing Week" also carry a great deal of useful information.
Describe a time when you had to handle a difficult customer.
The interviewer wants you to provide an example of how you dealt with a demanding customer in the past.
Answer Retail and Service Interview Questions
Questions About You
•Do you work well with people? - Best Answers
•Why are you applying to work here? - Best Answers
•What has been your greatest accomplishment? - Best Answers
•What would you do if your replacement doesn't show up? - Best Answers
•If hired, how long do you plan on working here? - Best Answers
•Who was your best boss? Why? - Best Answers
•Where do you see your career in five years? - Best Answers
•What hours are you available? - Best Answers
•What do you see as your greatest strength? - Best Answers
•Do you have reliable transportation?
Customer Service Questions
•What is customer service? - Best Answers
•What is good customer service? - Best Answers
•Why do customers shop at this store?
•A customer leaves without paying for gas, what would you do?
•A co-worker is rude to customers, what would you do?
•The credit card machine is broken. What do you say to the customers?
•A customer wants to pay for $15 worth of merchandise in quarters, do you accept it?
•A customer wants to return a package of food that is open and half gone. What will you do?
•What is most important - a good product or friendly, fast service?
•You are scheduled to leave at 6 pm. Your replacement worker doesn't show up. What would you do?
•A customer becomes irate with you, and demands to speak to your supervisor, how do you handle the situation?
•You discover one of your co-workers giving free merchandise to his friends. What would you do?
Sample Math Questions
•The customer's purchase totals $13.93. She gives you a ten dollar bill and a five dollar bill. How much change do you give her? •If one bottle of soda costs .99, how much do three bottles cost? How much do they cost with 5% tax added on? •Each pot of coffee holds 6 cups. We usually sell 10 cups of coffee every fifteen minutes. How many pots of coffee will you need to make during our two-hour rush?How many pots of coffee will you need to make? •Potato chips are on sale at half price. They sell for $1.19. How much is 50% off?
•A customer buys $27 worth of gas. He gives you a $50 bill. How much change do you give him?
•55 x 20 =
•24 - 48 =
•62 + 28 + 14 + 36 =
•82.20 - 53.66 =
•15 x 7% =
•8.50 x 4% =
•19 x 15%
Math Tips for Retail Interviews
When you're asked math questions during a retail job interview, the interviewer wants to know that you have basic math skills. These tips will help you answer math questions you may be asked during an interview.
Interview Questions to Ask the Interviewer
One of the questions you may be asked during a job interview for a retail or customer service position is "Do you have any questions for me?" Have a list of questions ready to ask that will clarify the job requirements, your schedule, the flexibility of the position, and anything else that would help you decide whether you would want the job if it were offered to you.
Remember that interviewing works both ways and asking questions is an opportunity to be sure the job is a good fit. You don't need to ask all these questions, but make a list of the ones that are most important to you, so you're prepared to ask questions during your job interviews.
Here's a List of Questions to Ask
•How many hours per week do you expect that I would work?
•What are the typical shifts covered by this position?
•Are weekend/evening hours required?
•How flexible are the hours and the schedule?
•Do the hours vary weekly, or stay the same?
•What are your busiest times during the day?
•What is the busiest day here?
•Do you schedule people for primarily the same hours every week, or do they vary greatly?
•Are there extra hours available during the holidays?
•How far in advance is the schedule posted?
•How many sales associates are on the floor during a shift?
•Is there a supervisor on during all shifts?
•Who does your displays?
•What is your biggest selling item?
•Do you offer commission?
•Are the performance reviews done by the store manager, or does a regional manager come in?
•Does this company have a policy of promoting from within?
•How many full-time employees does this store employ?
•What kind of atmosphere among the employees is there at this store/shop/boutique?
•What kind of growth do you expect to see from this company over the next five years?
•Will I be a part of a team, or be working primarily independently?
•Will I have the opportunity to interview with the supervisor of this position?
•Can you describe for me a typical day in this position?
•How would you describe your company's management style?
•Is there an opportunity for growth within the company?
•What do you like best about working here?
•What do you like least about working here?
•Would you change anything about this department?
•If I'm offered this position, how soon would you like me to start?
•How many applicants are you interviewing for this position?
•Is there a dress code? What would I need to wear to work?
•Do you have any additional questions for me? - How to Respond
•When should I expect to hear from you?
What is a retail store? |
A store that sells smaller quantities of products or services to the general public. A business that operates as a retail outlet will typically buy goods directly from manufacturers or wholesale suppliers at a volume discount and will then mark them up in price for sale to end consumers.
What is a retail store example?
Examples of department store retailers include Macy's, Nordstrom, and JCPenney, to name just a few. Grocery Stores and Supermarkets: Sell all types of food and beverage products, and sometimes also home products, clothing, and consumer electronics as well.
What is the need that your business exists to satisfy?
Every business exists because of some noticeable opportunity that you have discovered within the market. So you must clearly define the need and/or problem you are solving with this business.
How will your business satisfy the need?
Introduce and describe the business itself. Consider including a mission or vision statement with objectives detailing how the business satisfies the need in the market.
How does your company differentiate itself?
Describe your business model and competitive advantage. This will help you to outline how the business will sustain its position within the market.
Who will be the key players in the business?
Name the management team, board and advisers to the business. Highlight their expertise and experiences.
How big is the market you are entering?
Only after understanding the industry you are entering – its size, attractiveness and profit potential – can you truly justify the opportunity.
Who will you be targeting as customers?
Narrowing down your target customer will help enhance and define your marketing strategy.
What will be your most effective marketing and promotional strategies?
Once you’ve identified your target client, you’ll need to develop and implement a strategy on how best to reach them (e.g. PPC, television, radio, social, etc). And this in large part will be influenced by where your target client consumes information.
What are the economics of your business?
Define your revenue streams including pricing structure, costs, margins and expenses.
How much money is required to get your business started and generating revenue?
Identify needed capital requirements by determining where your business stands today, and what is needed in order to move forward. Also, if you are in need of outside funding, what will be the sources and uses of funds requested.
What needs to happen to break-even?
Play around with financial projections and forecasts to determine the volume of sales needed to cover your expenses and to become profitable. Include monthly breakdowns for the first two years.
How do you outline a business plan?
What is a retail plan?
How do you start a boutique business plan?
How do I write an online business plan?
What are the key elements of a business plan?
How do I write a business plan?
What are examples of retailers?
What are the types of retailers?
What is a job in retail?
What are the five components of a business plan?
What are the 10 components of a business plan?
What should a business plan include?
A Guide to U.S. Retail Pricing Laws and Regulations
March 9, 2011
City Passes Amendments To Retail Laws That Provide Updates And Modernization Of Current Industry Regulation
Retailer Regulations and Guidance
How does government regulation impact the retail sector? |
What is Retail Law?
How the current government shutdown may affect retail spending
The Decline of Retail: What Local Governments Can Do
https://bizfluent.com/list-6120957-agencies-regulate-retail-stores-.html What Agencies Regulate Retail Stores?
Who loses as brick-and-mortar retailers crumble
Retail Food Stores
https://www.gsa.gov/acquisition/purchasing-programs/requisition-programs/gsa-retail-operations GSA Retail Operations
Conflicts of Law
When conflicts of law arise, courts must decide which law will govern. ... which values (1) the needs of the international system; (2) relevant policies of the nation ... ration
Essential Commodities Act
Essential Commodities Act
http://www.qureshiuniversity.org/kashmirissues.html#Food and supply issues: rationing families in Kashmir.
Was there any price on ration card or public distribution system in Kashmir up to 1980?
Should there be any price on ration card or public distribution system in Kashmir after 2016?
How was ration card or public distribution system in Kashmir accomplished up to 1980? Quota per person. Rice, wheat, sugar, other necessities.
How should the ration card or public distribution system in Kashmir be accomplished after 2016? Quota per person.