Retail Buying
- Submitted by: carmelo
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- Category: Other
- Date Submitted: 02/12/2014 02:24 PM
- Pages: 12
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CONTENT
LIST OF ACRONYMS AND ABBREVIATION 2
Summary 3
1. Introduction 4
2. Importance of CM 4
2.1 The introduction of CM 4
2.2 Importance for retailer and supplier 5
2.3 The limit of CM 7
3. Importance of ECR 7
3.1 The introduction of ECR 7
3.2 Importance for retailer and supplier 7
3.3 The limit of ECR 8
4. The importance of CRM 8
4.1 The introduction of CRM 8
4.2 Importance for retailer and supplier 9
4.3 The limit of CRM 10
5. Case study: Tesco 10
6. Conclusion 13
References 14
LIST OF ACRONYMS AND ABBREVIATION
CM - Category management
ECR - Efficient Consumer Response
CRM – Consumer Relationship Management
QR – Quick Response
Summary
CM, ECR and CRM are really important for both retailer and supplier, and they are widely used in retail management in the recent time. So in this paper, it will critically assess the strategic importance of these concepts for both retailers and suppliers and after that, it will make an example of Tesco relate these concepts in the development of competitive advantages.
1. Introduction
Nowadays, by the increasing of the household income and urbanization, the food consumption increases rapidly. It causes the food market becomes more and more competitive. There are a lot of companies enter into the market, also a lot of companies disappear in the market. So if the companies want to survive in the food market, they must to apply the modern management concepts to the retail buying and use them in developing a competitive advantage. And in these concepts, CM, ECR, and CRM are the key concepts for companies. Companies should understand them, implement them and critically assess them.
2. Importance of CM
2.1 The introduction of CM
Brian F. Harris coined the phrase “category management” (Pradham, 2007). “Category management is a real breakthrough in trade practices,” it said by Dussart, C (1998). This means CM changed the structure of the traditional management. In traditional trade...
LIST OF ACRONYMS AND ABBREVIATION 2
Summary 3
1. Introduction 4
2. Importance of CM 4
2.1 The introduction of CM 4
2.2 Importance for retailer and supplier 5
2.3 The limit of CM 7
3. Importance of ECR 7
3.1 The introduction of ECR 7
3.2 Importance for retailer and supplier 7
3.3 The limit of ECR 8
4. The importance of CRM 8
4.1 The introduction of CRM 8
4.2 Importance for retailer and supplier 9
4.3 The limit of CRM 10
5. Case study: Tesco 10
6. Conclusion 13
References 14
LIST OF ACRONYMS AND ABBREVIATION
CM - Category management
ECR - Efficient Consumer Response
CRM – Consumer Relationship Management
QR – Quick Response
Summary
CM, ECR and CRM are really important for both retailer and supplier, and they are widely used in retail management in the recent time. So in this paper, it will critically assess the strategic importance of these concepts for both retailers and suppliers and after that, it will make an example of Tesco relate these concepts in the development of competitive advantages.
1. Introduction
Nowadays, by the increasing of the household income and urbanization, the food consumption increases rapidly. It causes the food market becomes more and more competitive. There are a lot of companies enter into the market, also a lot of companies disappear in the market. So if the companies want to survive in the food market, they must to apply the modern management concepts to the retail buying and use them in developing a competitive advantage. And in these concepts, CM, ECR, and CRM are the key concepts for companies. Companies should understand them, implement them and critically assess them.
2. Importance of CM
2.1 The introduction of CM
Brian F. Harris coined the phrase “category management” (Pradham, 2007). “Category management is a real breakthrough in trade practices,” it said by Dussart, C (1998). This means CM changed the structure of the traditional management. In traditional trade...