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Fundamentals of Retail Management

Retailers have direct, daily interaction with consumers and knowledge of and insight into consumers’ daily needs, wants and challenges. This does not guarantee success since retail businesses often fail due to poor management. There is an acute need for strategic, scientific, ethically responsible retail management.

The course provides you with a solid grounding in the strategic and tactical side of the business, applicable whether your enterprise is large or small, provides goods or services, and is a domestic or global concern.

This course will benefit entry-level managers in the retail environment, store managers and branch managers wanting to hone their knowledge and skills, entrepreneurs and individuals who are keen on establishing a career in retail management.

Exit Level Outcomes

Upon completing this course, you should be able to:


Understand the fundamentals of management within the context of the retail value chain

Develop and apply the components of the retail value chain

Understand and apply retail planning to merchandise, financial and sales planning

Calculate the impact of sales margins on

Explain the concepts of stock turn, days forward cover, mark downs, and the knock-on effect

Plan, execute and evaluate retail purchases

Understand warehousing and distribution within the retail sector

Certification


A Certificate of Competence will be awarded to all participants who successfully submit and pass their assignments, and exams*

A Certificate of Completion will be awarded to all who successfully submit and pass their assignments

A Certificate of Attendance will be awarded to all who attended the training session

On successful completion of this short learning programme, the participant may be considered for exemption from the equivalent course in the respective qualification, provided that he or she meets qualification entrance criteria. Exemption fees may apply.

Duration

2-day course contact time including facilitation and group activities

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Fundamentals of Retail Management