How to Become Successful in Retail Management

Retail Management is a dynamic field and offers lucrative opportunities to those who are willing to study for it and learn the ropes. What makes it more exciting is that you don’t need to finish a college degree to get started or become a successful retail manager. A short online course which you can take while you are working full-time can pave the way to a new and rewarding career in this industry. Since you will be dealing with different types of people, you must have good communication skills, be able to lead and motivate your staff, patient, keen attention to details, able to multitask, willing to work long hours and a problem solver. Running a retail store is very challenging but if you overcome the pressures, it can be very fulfilling too.

A retail management diploma may be helpful if you want to climb up the corporate ladder. It will also introduce you to the basic and technical concepts of running a business especially how to make your store profitable, hiring personnel and monitoring staff performance. After finishing a course, you can already apply for entry level positions. Some of the positions that you can apply for are store assistant, sales clerk or cashier. This is usually a first step to reaching the top. Observe and learn how the business works. Request to be assigned in different positions and shifts. Opening and closing shifts offer different insights so this will be helpful for you to become a retail manager later on.

While you are gaining experience, don’t forget the importance of continued education. Though it is not required to have formal college education, taking up retail management courses even through distance learning is important not only to update your skills and give you competitive edge over other candidates for retail managers but to establish contacts with key people in the industry as well. When you keep yourself updated with business trends and skills, it wouldn’t take long to qualify for managerial positions not only in retail but also in merchandising, sales, operations, accounting (if you take up accounting courses) and marketing. Choosing an accredited and recognized retail management institute is crucial in facilitating your shift to this field. Schools with good reputation often assist their graduates in applying for jobs by helping them create a solid resumé and providing references. Make sure you take advantage of on-the-job training or internship. If you have friends who own stores or businesses, volunteer to work there even for a few hours a week. This can give you valuable experience and let you develop important skill set that you can use when you are ready to run a business or manage a retail store.

Microsoft Dynamics Retail Management System Solutions Specialist Certifications

Microsoft Dynamics Retail Management System Solutions Specialist is a respected name amongst the various Microsoft qualifications. Every company takes the effort to select professionals that are experienced and talented. The Microsoft Dynamics Retail Management System Solutions Specialist widely declares your talent and expertise you hold in the field and makes you stand in a bright spot light in front of the interviewers.
This global recognized Microsoft Dynamics Retail Management System Solutions Specialist certification contributes to a heavy leap on your MS career and pay-scale.
This qualification helps confirm your specialized skills in one component of MS Dynamic RMS, a retail management system used by small and medium-sized companies to boost business intellect and activate growth.
Dynamics Retail Management System Solutions Specialist Examination Details
There are 2 relevant exams provided by the Microsoft in order to qualify a Microsoft Dynamics Retail Management System Solutions Specialist certification. These exams are:
MB5-538 Exam
This qualification examination calculates your capability to do the following:
* Recognize and express how to install and configure the Headquarters application in Microsoft Dynamics RMS.
* Use the application terms to sufficiently communicate solutions to other users.
Exam Timings and question details are as follows:
* 90 minutes to finish the examination
* 50 questions, with a passing rate of 70%
* Multiple choice and multiple answer questions

Applicants for MB5-538 Retail Management System 2.0 Headquarters examination are required to master the IT area on Retail Management System 2.0 Headquarters. Actual tests indicate candidates to attend the MS Business Solutions examination after at least one year practical knowledge on MB5-538. Obtaining MB5-538 qualifications is the very first step to ideal profession. Improving your technological innovation on MS area, and gaining Retail Management System 2.0 Headquarter qualifications can demonstrate your depth and width on technological innovation area.
Also known as Microsoft Dynamics Retail Management System 2.0 Store Operations is an examination which address to your skills and knowledge regarding MS Dynamics, the individuals can understand how to install, configure and implement MS Dynamics Retail Management System Store Operation efficient in retail store business and multiple store corporations. Microsoft Dynamics Retail Management System 2.0 Store Operations proves efficient in almost all retail store businesses. The professionals who want to understand the basics of application’s functionality and capability are recommended to take this examination MB5-537 so that you can take your career at new heights.

Exam MB5-537: Features

Following are the subjects one must have to hold so that they can secure excellent amount of marks in MB5-537 examination.

* Store Operations Overview
* Store Operations Components
* Concept of a Database Server
* Store operation management
* Expression of store operations point of sale
* Developing of administration tasks and integration option

These are the subjects which needs concentrate in order to be effective in MB5-537 examination. By getting full control over these subjects to obtain good ranking in the examination of MB5-537 Microsoft Dynamics Retail Management System 2.0 Store Operations will not stay challenging for you.
The course concentrates on the Store Operations Administrator, Manager and Point of Sale applications, and how they are used for database installation and servicing, stock and client control and the settings of point-of-sale signs up. Learners finishing this course obtain a primary knowing of Store Operations performance and abilities. So to get MS qualification in MB5-537 examination is for all who are qualified for this examination.

Cost Effective Retail Management Software System

As the pressure to perform in the retail industry increases with rising rentals, more competition, higher customer expectations and evolving trends, retailers are finding it increasingly challenging to manage and grow their retail business.

With the convergence of the demand chain which starts from the customer through to the distribution channel and the supply chain which starts from the suppliers to the stores, having an integrated efficient system and business processes in place is an important determinant to retail business success.

With a significant technological advantage and a good retail management software solution that complements their retail strategy, retailers will be able to gain control of their business operations through a single point of view, optimize resources, increase process efficiencies and lower costs.

However, an inherent fear of complex and time-consuming implementations with high costs is often a deterrent to making the required IT investment. Retailers sometimes make-do with a mini billing or small inventory system which may be able to support the business in its startup but fail to support the business growth with relevant functions and reports as it scales up. There are others which invested the time and resources to implement an expensive system only to realise that the system is not addressing its retail business needs comprehensively. In such cases, many retailers have then refrained from looking at other options.

Investing in a robust and integrated retail management software system could benefit a retailer in many ways.

* Increased profit margins through better understanding of buying trends and stocking based on consumer preferences
* Increased sales as a result of better inventory control, reduced stock-outs, lost sales and happier customers
* Control of inventory will help to streamline your warehousing and store space
* Control on pilferages through intelligence gathered on pilferage-prone items and locations so that more checks and measures can be put in these problem areas
* Managing the merchandising mix so that it reduces the problem of over stocking or under stocking
* Minimum stock outs which leads to increase sales as customers are able to purchase what they want instantly
* Understanding the customer purchasing pattern to plan an optimum merchandise mix
* Tracking customer buying history allows you to discover who are your loyal customers and execute targeted promotions to maintain their loyalty.

Addressing the needs of the evolving retail industry, ETP International has developed the ETP V5 Retail Management Software which covers all the key functionality required for retail companies and is built to help retailers align their business processes with their strategies. Its integrated yet modular approach allows retailers to deploy ETP V5 comprehensively or modularly as per their requirements.

ETP V5 helps to streamline areas such as inventory and merchandise management, customer service and point-of-sale, loyalty and customer relationship management, cash management, marketing and promotion planning, merchandise and OTB planning, CRM and loyalty management, warehousing, inventory allocation and distribution, product life cycle management, procurement and MIS reports. With the components integrated into a single database with a single sign-on, management benefits from an integrated view of people, processes and goods moving at different speeds across different time zones and different languages in different countries at any time. Covering a wide spectrum of functionalities in a retail organisation, ETP V5 also adds value to corporate functions such as human resource and training, finance, marketing, and more.

Being an international software solution company in the World, ETP provides retail solutions to the retail industry leaders using its ETP V5 retail management software as a platform.

Definition of retail management

Basically, retail management is encouraging sales providing maximum client satisfaction helping the clients to understand the organization in a better way. The strategy of retail not only includes the manufacturing procedure but also refers to the in-depth research of the retail process, distribution of the finished goods and providing maximum client satisfaction. Retail management helps in making the purchase in a better way with complete client satisfaction. For example, Domino’s Pizza which is one of the renowned chain merchants of pizza delivery all across India provides a free pizza to its clients in case it makes any mistake in offering a proper service to its clients within the short span of time. Hence, creating a relationship of trust with its clients and satisfying them.

Any shop which sells the commodity to the society is considered as a retail store and the retail management is the process of administering a retail store. There are numerous retail stores all across the world which supplies various goods and services to its clients. Such stores include Wal Mart, Home Depot Inc., Pantaloon retail, Tata groups, Subhiksha, Reliance and AV Birla groups among others. Retail management comprises of regulating the store, the staff and the supply in the shop. Retail management includes all kinds of activities which are essential in convincing the buyers in creating a purchase providing maximum client satisfaction.

Retail marketing management industries have played an important role in the growth and development of the economy of many countries. India’s economy is expected to grow at 30percent in the upcoming five years. Retail management contributes around 10percent of the country’s GDP and 8percent of employment. India is emerging as a country having the fastest career opportunities in the retail sector. The immense growth in this sector has a huge demand of qualified professionals in the field. As retail management includes a large mass of activities originating from marketing to branding thus it has become one of the most demanding careers of present time.

Retail management helps in ensuring that the customers find their appropriate product providing them the complete satisfaction. It is a process of providing the best product and services to the clients and making them feel happy without any complaints. It is one of the largest sectors in the world’s economy. Retail shops help in conducting easy shopping making it a pleasurable moment in one’s life. Retailing management is an art of convincing people to purchase their products and making it their first preferable choice. It is a process of managing the store, staff and also the customers at the same time.

Vesture Retail Management Software Solutions for Multiple Functions

Also consumers have become smarter than ever before and hence when they interact with a retailer they want to get right set of genuine details before making right choice. Thus, to survive in the competitive and demanding multi channel retail market, what a retailer needs is technology integrated retail management system software which is capable of delivering increased revenue and driving growth along with much required high-end customer services across the channels.
Our retail management system software is an end to end amazingly designed suite that brings together CRM and marketing, eCommerce, order management and merchandising, warehouse management, financials into a single centrally managed and cloud supported solution. This high end technological product gives you the real time visibility into the every segment of your entire retail operation by linking every step of your multi channel retail enterprise which is accessible from at anytime from anywhere. The Retail Management System Software that we offer are suitable for the retail organization of any size ranging from a small retail store to an enterprise multi-channel nationwide retail stores.
We offer a complete POS (Point of Sale) that can be adapted for meeting every retail organization’s unique requirements. Our retail solutions are well packaged with some amazing features like:
Automation – It minimizes the disruptions, showcases automation in many of its features and is specially designed for swift and hasty installation.
Flexibility in Reporting – This retail management solution is capable of customizing the data fields for tracking the data pertaining to the suppliers, inventory and customers.
Scalable – Our solutions offers the great amount of scalability and is capable of providing support to any number of OPOS compatible peripherals
Easy to Use – It is an efficient solution that enables the users to learn the POS Software processes and procedures within very short span of time with its intuitive user interface and inbuilt wizards.
Therefore, now you can rely on a retail management solution that is one of the most comprehensive solution and that provides:
* Powerful e-commerce competence
* Profound order management, purchasing and inventory functionality in the most efficient and effective manner
* Amazing access to retail applications for EDI, planning and tax management
* Seamless support for multiple channels and multiple location without affecting the efficiency of the system
* Real time visibility across the entire business with the support of role based dashboards
* An end to end application that can manage your entire retail operations with the direct assimilation with on premise Point Of Sales
* Best in class financials and accounting

Read more on Cloud Retail Software and Retail Management Solutions from vestureindia.

Retail Management Diploma for the Shopaholic

Ever heard of retail therapy? Although some people would consider it as sickness, it’s still one of the most awesome cures developed in this millennium for many. If you’ve tried this therapy before (and tried again – and again…) and it worked, then you must have realized the brilliance that people behind retail management possess. Now, how about jumping to the other side and starting a career in retail management? Sounds fun? You bet.

Retail management is just as exciting, challenging and rewarding as shopping itself and most importantly, you will earn instead of spend. So if you’ve always enjoyed being a customer, you probably have a fantastic career running a store too as you know what makes people want to part with their cash. The job isn’t all fun though because you have staff to manage and motivate, stock to control, customers to attract (and sometimes appease) and overall, a store to run.

So you see, while a shopaholic like you may be the best candidate for a retail management position, you need to step back and do a little preparation first. Thankfully, you don’t have to go back to college and spend four years or more to become a retail manager. There is now an option to sign up for short retail management courses such as a retail management diploma or certificate course. You’ll learn what you need to learn, and learn them quickly and conveniently.

These short courses can provide the advantage you need as many other hopefuls are surely vying for a single retail management position. A background in business or marketing will definitely give your application a boost but if you got a few weeks to spend, it won’t hurt to dedicate this to completing a more fitting study. These courses usually take only a few weeks or months to complete depending on the level. Additionally, if you’ll enroll in an on-line course, you don’t have to quit a full-time job to study.

Complete the lessons at your own pace and see how an ordinary shopper can turn into a competent retail manager. Lastly, note that course provider must be chosen carefully. A good retail management institute should not only arm you with the necessary skills or impart the latest trends in the industry; it should also guide you in treading the job market. Inquire about the school’s job assistance program and make sure that if they have one, this is offered at no additional cost to their graduates.

Binding Two Ends Of Retail Management Solution Through ERP And POS On Cloud.

In a business, there are plenty of factors that need attention. Starting a particular enterprise can be the dream of many. But only few have successfully gone on to become entrepreneurs. They have toiled, they have planned and then they have acclimatised themselves with the latest in the technology to maintain their business. Nowadays, with the help of cloud computing, business enterprising has become easier, thanks to the availability of a single point where everything can be managed.

Especially for retail businesses, there are many things which should be managed properly so that the enterprise runs smoothly. From the very basic feature of planning, the cloud system can be helpful. People, who are planning on the retail business or are already in the business but are not using any technology, can start the use of retail ERP on cloud. By doing so, their Enterprise Resource Planning is managed at a single point in the cloud. Thereby, all the retail outlets are now having their planning done from a single point.

For this, there is the need of buying house ERP on cloud so that the retail business has its own arena were its data can be stored and other requirements of computing can be fulfilled. Buying house software on cloud will need a charge to be paid to the company which owns the cloud and also a license is required to be agreed upon. With the agreement fee paid and the cloud space in hand, the services of retail ERP on cloud can now be availed by the business owners.

Buying house software allows the business to have data backup, security services, constant power and network usage and 24×7 customer care services. After the acquisition of the home buying software and the ERP on cloud in place, the retail businesses can now function in its particular sector with ease. Be it garment retailing, consumables, or organic products, every type of retail business can now operate with efficiency of time, money and human resources.

Next in line of management system by the use of cloud computing is the POS, which is the next most common retail management solution on cloud. POS on cloud or Point of Sale is the functionality where the actual sale matters are dealt with. Included in the cloud retail software are many things regarding point of sale such as the number of customers, number of products, ordering of fresh stocks, end of stocks, and other such logistics issues. If there is more than one retail counter, then the retail software on cloud will be able to monitor all the activities of sale through one point.

Software for retail that functions through the cloud is nowadays being sought for the two main purposes of planning and sales. If these two basics are strengthened, then the company that is dealing in retail marketing or business will not be having any problems. In the process of business various points are needed to be marked and taking care of each of these points is essential. By having cloud retail software for the services, enterprises can work in peace for their progress rather than struggle everyday to manage the mundane affairs of looking after the sales and the planning through manual effort.

POS for Retail Store, Retail Point Of Sale, Retail Management Software – EasySol

Easysol Retail POS software is the best product to grow your retail business – Irrespective of service, quality or price that differentiates your business. Easysol Retail solutions offer a robust POS system and in-store software systems with high ROI applications. Our feature-rich POS system software offers a highly flexible configuration that meets your unique business requirements.

Easysol retail software helps in Daily Transaction Report showing opening cash balance, cash sales and sales return during the day, other receipts, other payments and closing cash balance. This report will also display all the transactions done during the day in a summarized manner by showing transaction type, number of transactions and number of items in those transactions. You can also select any transaction to view detailed report in easysol retail point of sale.

Easysol’s departmental store software provide retailers with full-function middleware for data transport and data transformation, such as feature-rich polling that enables retailers to control and prioritize the movement of data between stores and the head office.

Easysol Retail POS also comes with other value added features like:

* Multi Counter Billing

* Fast Bill Printing

* Accepts different mode of payment like Cash, Credit Card, Debit Card, etc.

* Automatic Sales TAX calculation.

* Automatic Items and Rates updation.

* Barcode code generation and searching.

* Supplier due list management and bill wise payment module.

* Financial Accounting up to Balance Sheet.

* Variety of unique reports.

Easysol retail store is one of the top most retail stores for POS. EasySol Retail Point of Sale provides you a powerful SMS sending module. You can send individual SMS to your customers, suppliers and to your friends and relatives stored in your personal directory. You can also send bulk SMS to all or selected persons. At any time you can view the history of SMS send to any particular person or to all and can also select the text of previous SMS for resending. You can also store standard SMS text for future reference.

EasySol POS is perfect for Retail Store POS, Retail Management Software, Point of Sale for Retail business, Departmental Store Software, Departmental Point Of Sale, Inventory Management, ERP

Specialty Retail POS Systems : Graphical Management Dashboard

Specialty Retail POS Systems

Specialty retailers can be found in every community regardless of how big or how small that community is. By definition, a specialty retailer sells products that are more specialized and specific items. For example, cell phone outlets or video game stores are considered to be specialty retailers. Additionally, they have more specific needs and requirements where a POS system is concerned compared to other types of retail operations. A retail chain that specializes in a particular brand of clothing may also be defined as a specialty retailer.

As a result of this growing market, specialty retail POS systems have become more popular and even necessary. The type of POS system that you purchase will depend on the demands of your everyday business operations. Do you operate a single location or are there multiple ones? Is your retail business a “mom and pop” operation or are there a number of employees that you manage? These are just a couple of the questions you will need to answer when you start searching for a POS system that best facilitates the daily needs of your business.Home > Retail Industries > Specialty Retail

Solution Brochure

Specialty Retail POS Software
The Radiant Retail Solution for Specialty Retailers

Specialty Retail POS Systems CounterPoint is customizable, allowing you to configure the software to fit the needs of your business. Our local support teams can tailor your solution how ever you see fit. Our portfolio of clients is diverse, including battery stores, apparel retailers, franchises, zoos and aquariums, universities, museums and coffee shops.The Radiant Retail Solution helps thousands of retailers of all sizes maximize their profit opportunity with a solution that is both innovative and time-tested.

CounterPoint includes a robust inventory management system, touchscreen point of sale (POS) ticket entry, built-in customer loyalty programs, automated purchasing and impressive reporting capabilities. Instant inventory updates let you know what’s in stock, on order, and in transit. Track your customers, control your purchasing, retain detailed sales history, or open an online store-CounterPoint includes everything you need to streamline your business and boost your bottom line. CounterPoint has all the features you need to efficiently and effectively operate your business at its fullest potential.

Features beneficial to Specialty Retailers:

* Three dimensional grid for inventory, ordering, and reporting in color/size/width
* Kits at point of sale for bundling items
* Graphical management dashboard
* Quick Reports-Create custom views of what you want to see, and how you want to view it. Add that View to a button in the POS for future reference
* Print admission tickets at the point of sale
* Manage sales, returns, orders, special orders, backorders, and layaways on the same ticket
* Track customers’ favorite colors, size, etc. with user-defined profile fields
* Suggest items, substitute items and link Items
* Robust Multi-store capabilities. Easily view and transfer items from store to store, while each store data is synchronized across multiple sites
* View your history from any point in time-6 months, 12 months, 2 years, or 20 years.
* Integrated credit. Radiant hardware builds in the credit card swipe directly on the terminal. Eliminating EOD transaction reconciliation and double-entry
* Open-database enables you to easily pull your information out of CounterPoint into other programs such as Microsoft Excel or Adobe Acrobat
* Wireless Inventory Scanning-With inventory management, handhelds are instrumental in streamlining receiving, counting, ordering, and audits
* Modern touchscreen interface allows you to train employees in 30 minutes
* Enhanced Security features

A specialty retail POS system can provide you with certain advantages that you normally don’t encounter with the traditional cash register and checkout operations such as:

o real-time visibility of the operation whether it is one location or multiple locations
o detailed information about your customers, inventory, and sales
o customer service applications

Additionally, if you have a larger business, the demands will be greater and a more advanced specialty retail POS system may be a wise choice. The key is to investigate the POS systems and the companies that sell them as thoroughly as possible in order to find the best quality at the best price. Naturally, if you have budget concerns or restraints you will have to really fine tune your search.

Here are some additional considerations to be aware of where installing a specialty retail POS system is concerned. Look for a system that:

o can enhance your customer service levels and can increase your sales using customer loyalty programs, promotional messaging, and suggestive selling
o optimize your inventory so that you have the right products available to your customers when they need them using critical merchandise allocation and planning applications
o reduce the training time of new employees so that they can deliver attentive and responsive customer service
o is easy to install, easy to learn, and easy to learn
o analyze and identify your customer purchasing trends as well as new opportunities in the market
o perform extensive searches for new items that will broaden your inventory

Another suggestion is to search for a specialty retail POS system company that has a physical location, not just a website. You want to be assured that they are available whenever you need them.

MBA in Retail Management- Build a successful career in Retail.

The retail industry is growing at a high pace in India and that too with innovative business models. With a number of emerging Indian brands, the penetration of international brands in the Indian market, and many such factors is the reason behind the boom in the retail industry. JDBIMS offers MBA Retail Management, which is a comprehensive course that teaches all aspects of retail management.

Introduction: Functions of Retail Management

The first thing that we notice before entering a store is the window display. The window effects our decision to enter the store a great deal. And who is responsible to make it look attractive? It’s the Visual merchandiser. The look and feel of the store as well as the window of the store is the Visual merchandiser’s job.

Buying the right merchandise, in correct quantity and quality is the merchandiser’s job. A visual merchandiser is different from merchandiser. A merchandiser buys stock and deals with distributers, manufacturers and designers. Retail supply chain management are related to product procurement and controlling product quality, inventory levels, timing, and expenses. Logistics are also involved in moving the product from source to destination, handling and storing them.

Other functions include applying retail communication mix for promoting and selling the products, human resource and training, finance and administration, information technology and customer contact service.

About MBA in Retail Management
MBA in Retail Management at JDBIMS SNDT Mumbai is a 2 year full time course. This course is ideal for a student who seeks a career in the retail sector, for professionals who aspire to grow in the industry. The function of retail industry such as supply chain management, merchandising, store management, visual merchandising, are a number of opportunities to build one’s career in the retail sector. This course will help you understand retail industry and help you chose the job profile that suits you the best

Highlights of MBA Retail Management at JDBIMS

Sectoral Specialization
Internship (Summer and Winter)
Concurrent Fieldwork undertaken on two days a week
Emphasis on research project. Every student undertakes a yearlong research
Business Ethics an integral part of the course
Sound theoretical insights about managing modern retail business.

Broad Objectives
A student who completes this retail management course would be industry ready to contribute and manage the various functions in a retail environment. The programme is designed to enable the learner to gain hands-on experience and practical exposure as well sound theoretical insights about managing modern retail business.