Retail Strategy and Operations
This subject is available under ICMS undergraduate degrees, please click the button below to find an undergraduate course for you.
Subject Code:
FBM301A
Subject Aim:
The retail industry is a global business, and intrinsically linked to our day- to -day lives, this dynamic industry is in a constant flux of change and evolution. Retail provides the connection between consumers, brands and companies selling consumer goods. Getting retail strategy and operations right is critical to a business’s success and longevity. Good companies need astute purchasing and supply chain management to deliver customer value whilst maintaining operational cost and profits to an increasingly sophisticated consumer. Purchasing and supply chain management today reflects an integrated approach, with a focus on building relationships with a more collaborative approach with suppliers. The breadth of retailing expands across traditional bricks and mortar stores, e-commerce and online retailers. Across these platforms, we examine the functions of retail strategy, supplier relationship, performance management, strategic cost management, enterprise resource planning (ERP), operational technology, sustainability and logistics. Internal and external influences factors affecting strategy and operations as well as the frameworks and critical thinking needed to become successful in the industry.
The aim of this subject is to expand on student’s critical analysis, and knowledge of retail strategy and operations. Students gain real world experience and skills in the management and supply of goods in fashion and the broader retail industry through simulations of retail and supply chain management. This knowledge is a critical asset in a constantly changing business environment and is the stepping -stone for students to transition as a professional working in retail operations.
Learning Outcomes:
| a) | Evaluate the purchasing process and its relationship to the supply chain management |
| b) | Identify and propose a suitable supplier and evaluate supply quality |
| c) | Examine purchasing and supply chain analysis tools and information technology |
| d) | Demonstrate how to effectively manage negotiation and conflict in the supply management |
| e) | Identify and develop ways to manage and improve inventory, transportation and supply chain network |
| f) | Implement a performance measurement and evaluation |
Student Assessment:
| No | Assessment Task | Weighting | Subject Learning Outcomes |
| 1 | Retail Strategy Proposal Part 1 | 35% | a,b,e |
| 2 | Value Chain Simulation | 30% | a,c,d |
| 3 | Retail Operation & Financial Plan Part 2 | 35% | a,b,c,d,e,f |