Has the improvement in high street retail logistics made us all more loyal customers??

Introduction To most businesses, the main objective is to make profit for the shareholders and satisfy the needs and interests of all the other stakeholders in the business. However, profit making is gradually getting more difficult as the liberalisation of markets has led to massive competition in most industries (Kumar et al., 2013). Consequently, companies have had to evolve in order to remain competitive and achieve their goals and objectives both in the short-term and in the long-term. One of the means commonly used by companies to ensure sustainable profitability is through capturing the loyalty of customers. The more loyal the customers are, the more businesses get recurring income and reduce the costs of doing business (Pepe et al., 2011). The retail stores in High St have been in the process of improving its services to their clients and the general public. This is with the aim of improving the levels of customer loyalty and thus increasing sales (Alessandra, 2007). This paper explores t he logistical improvements that have been made by high street retail companies to make their service to customers more effective. It seeks to establish if those improvements have related to customer loyalty to the company and to the brand. This will be achieved through the critical analysis of the supply chain and the detailed evaluation of the systems employed in relation to the benefits gained by High Street Logistics in its business. Findings and Analysis on High Street Retail Logistics Agrawal and Smith (2009) define retail logistics as the flow of goods from the suppliers to the stores and then to consumers. There is a specific logistical model through which this flow is managed to ensure efficiency and cost effectiveness in the process of doing business. The level of competition in high street retail is very high and all companies need to have a competitive advantage in order to be able to survive and thrive in the industry (Bruce & Daly, 2011). As such, there is need for companies to evolve and adapt to the latest trends so as to continue being profitable. Customer loyalty is critical in the performance of retail stores globally. The cost of retaining customers is far much cheaper than that of acquiring new customers thus reducing the cost of doing business for an organisation (Chan & Ip, 2011). The other advantage that is derived from customer loyalty is that the loyal customers will help in the marketing process of the brand name (Alessandra, 2007). Statistics from McKinsey.com (2013) indicate that more people tend to use brands, products or services that have been recommended by people that they know. Thus, such references can only be made by customers who are loyal to the company or brand. To make the customers loyal, retail stores have come up with incentives to entice their clients to continue shopping with them (Lawfer, 2004). Such incentives have involved logistical changes which have improved over the years and part of such an improvement is multichannel retailing. This section intends to address some of these logistical improvements that have been made by high street retail stores. Multichannel Retailing Within the last decade, there has been a shift of retail logistics principles from the traditional modules to the multichannel retailing (Waters, 2010). This evolution has been facilitated and necessitated by technological advancement, the rise and expansion of the internet, and change in purchasing habits. Convenience for the customers has been the primary focus in the evolution of the logistical processes where the needs and wants of the clients are met through all means possible (El-Manstrly et al., 2011). The level of logistical improvements by companies is dependent on how forward thinking the companies are. The future oriented companies have put in place measures in its logistical process to ensure that needs of their techno savvy clients are met in the best way possible (Agrawal & Smith, 2009). As a major improvement in the retail logistics in high street retailing, multichannel retailing is termed to be customer centric and transformative to the manner in which the both custo mers and the retailers relate (Miller, 2012). The process starts with research of the tastes and preferences of the consumers even before the products are stoked. The emerging trends of the market are also monitored and scientific analysis conducted to ensure that the company is able to predict the needs of the customer (Poloian, 2009). The anticipation of what the customers need has been able to help in satisfying the needs of the customers better and more effectively thus creating a perfect relationship between the company and the customers. This in turn fosters customer loyalty to the highest levels (El-Manstrly et al., 2011). Multichannel retailing involves the use of multiple channels to facilitate trade and other transactions, which include after sale service to existing and potential clients, browsing for the desired goods and services, purchase of the goods and services, returning of faulty goods and post sale services to the clients (Poloian, 2009). Based on the channels that a company uses to make sales, the logistics of the retail company are customised to suit the clientele and the goals/objectives of the company. For instance, Argos only used to sell to their clients through their retail stores. However, there was need to develop an online presence in order to be as competitive as companies such as Wal-Mart (Miller, 2012). As a result, the company started an online store which has turned out to be very effective and profitable. Customers prefer the online store as they can window shop without much hustle and get better prices for the goods and services that they need (Pearson, 2012; Grewal et al. , 2011). The online stores also created a need for delivery systems to be part of the logistics package. The goods that have been purchased by the clients are delivered to their door steps for their convenience. Multichannel retailing has contributed towards increasing customer loyalty because regardless of what could be termed as an inconvenience to make a purchase via one channel, there is always an alternative. As such, customer needs are catered for in a better manner, which also increases loyalty (Bruce & Daly, 2011). Even though researchers have established that multichannel retailing is highly beneficial for customers, the fact that customers are always looking for better deals – especially when shopping online – makes it challenging for a single business or brand to maintain certain loyal customers. This is especially when other brands are also trying to attract the same customers (Pearson, 2012). Data Mining Data mining has been one of the most conspicuous forms of improvement in the retail logistics that has been experienced in high street retailing. It is conducted by companies by reviewing the shopping trends of their clients and enables them to make predictions on the types of products or service that will be needed by their clients (Kantardzic, 2011). For instance, a company can check on its online stores which goods have been purchased most and by what category of their customers for instance, the products could have been purchased by female customers with young children and from a specific region of the country or part of the city (Linoff & Berry, 2011). By possessing this data, the store can be able to stock the product for an anticipated need or to maximize on the profitability of the product. The same case applies to seasonal products which need strategic stocking for limited resources not to be wasted (Phan & Vogel, 2010). Clipper, the leading retail and high value logistics company in the United Kingdom investigated the changes taking place in the retail logistic that are taking place in high street retailers presently and that are anticipated in the near future (Clipper Logistics, 2013). The company notes that in today’s ever changing world, high street retailers cannot afford to lack creativity and innovativeness the way that they do business (Clipper Logistics, 2013). Thus, it is necessary for companies to formulate strategies that will give them a competitive edge over their competitors. In some cases, however, companies have been sued for mining client data through unauthorised means (Kantardzic, 2011). Whereas data mining is intended to provide more customized customer services that will increase customer loyalty, such incidents are detrimental to the achievement of this objective. For companies that use the appropriate means to mine data and provide services tailored to meet the needs of clients, there is a definite potential of increased customer loyalty (Linoff & Berry, 2011). Other Logistical Improvements Many retail logistics companies offer a full redesign of a company’s logistics system, which includes fully automated or semi-automated warehousing systems which run most the retail channels for their clients (Agrawal & Smith, 2009). The other service that is offered is inventory management for the purposes of improving the shelf availability of the products and services. Distribution to clients and dealing with suppliers is another role that has been taken over by retail logistics companies as service providers (Poloian, 2009). Most of the high street retailers have outsourced these services while others have decided to have an in-built system but seek the consultancy services of retail logistics companies. No matter the approach taken, the main aim is to improve on service delivery, reducing the costs of doing business and ensuring that the customers’ needs are met (Bruce & Daly, 2011). Many high street retailers also have follow-up surveys to ensure that the quality of customer service is up to the required standards. With the current level of internet accessibility among consumers, if feedback is not collected from the clients directly, it is received on social media platforms where most clients air there grievance (McKinsey.com, 2013). To avoid such situations, logistics of retail high street retailers have undergone several improvements to ensure prompt and adequate communication with customers (Phan & Vogel, 2010;Grewal et al., 2011). All these improvements that have been made by companies have been done with the aim of increasing customer satisfaction as well as improving their competitive edges (McKinsey.com, 2013). This has also led to an increase in customer loyalty for high-street retailers. Conclusion All businesses have to evolve at one point or another in order to remain relevant in the business world. High street is no different from other competitive markets for retail business and most companies have come up with ways and means to ensure that their retail logistics are up to the latest standards and that all the customers are satisfied. Improvements in the logistical processes, such as the delivery of goods, e-commerce through mobile applications and online store and the innovation in new channels for retail, have played a great role in customer satisfaction. Customer satisfaction in turn translates into more sales for the company and most importantly it translates to customer loyalty. The level of customer loyalty has been enhanced through the new services that have been brought about by the improvement in the logistics of these companies. However, the fact that some logistical developments require a lot of customer information has raised some scepticism among several custom ers. Based on technological advancement, the level of competition in the market and the changing consumer needs, more changes and improvements are still expected. Recommendations Although much has been done in the retail logistics sectors, there is still more to be done through technological advancement. Application of artificial intelligence to the logistical process is recommended for the retail stores to serve the purposes of automating processes and making predictions of future consumer trends with higher accuracy (Bodhani, 2012). The use of artificial intelligence will not only raise the integrity of the companies and the transactions in which they are involved, but will also aid in fully satisfying the needs of the customers even without the mentioning of the needs by the clients (Phan & Vogel, 2010). Such high quality services will lead to customer loyalty and thus profitability of the high street retail stores. One of the limitations of this recommendation, however, is the fact that it needs a lot of financial capital to implement. References Agrawal, N. M., & Smith, S. A. (2009). Retail supply chain management quantitative models and empirical studies. New York: Springer. Alessandra, A. J. (2007). Stairs of customer loyalty. New Jersey: Electronic & Database Publishers. Bodhani, A. (2012). Shops offer the e-tail experience. Engineering & Technology, 7 (5), 46-49. Bruce, M., & Daly, L. (2011). Adding value: challenges for UK apparel supply chain management–a review. Production Planning & Control, 22 (3), 210-220. Chan, S. L., & Ip, W. H. (2011). A dynamic decision support system to predict the value of customer for new product development. Decision Support Systems, 52 (1), 178-188. Clipper Logistics. (2013). Evolution vs Revolution. ‘Death of the High StreetRetrieved July 18, 2014, from http://www.clippergroup.co.uk/wp-content/uploads/2012/10/Future-Forum-Conference-Brochure.indd-2.pdf El-Manstrly, D., Paton, R., Veloutsou, C., & Moutinho, L. (2011). An empirical investigation of the relative effect of trust and switching costs on service loyalty in the UK retail banking industry. Journal of Financial Services Marketing, 16 (2), 101-110. Grewal, D., Hall, K., & Robertson, J. R. (2011). Innovations in retail pricing and promotions. Journal of Retailing, 87, 543-552. Kantardzic, M. (2011). Data mining: concepts, models, methods, and algorithms. New Jersey: John Wiley & Sons. Kumar, V., Sharma, A., Shah, R., & Rajan, B. (2013). Establishing profitable customer loyalty for multinational companies in the emerging economies: a conceptual framework. Journal of International Marketing, 21 (1), 57-80. Lawfer, M. R. (2004). Why customers come back how to create lasting customer loyalty. Franklin Lakes, NJ: Career Press. Linoff, G. S., & Berry, M. J. (2011). Data mining techniques: for marketing, sales, and customer relationship management. London: John Wiley & Sons. McKinsey.com. (2013). Reorganizing to build customer loyalty. Retrieved July 18, 2014, from http://www.mckinsey.com/client_service/organization/case_studies/improving_on_success Miller, J. (2012). Preparing the High Street for online shopping. Journal of Urban Regeneration and Renewal, 6 (2), 122-130. Pearson, B. (2012). The loyalty leap: turning customer information into customer intimacy. New York: Penguin Publishers. Pepe, M. S., Abratt, R., & Dion, P. (2011). The impact of private label brands on customer loyalty and product category profitability. Journal of Product & Brand Management, 20 (1), 27-36. Phan, D. D., & Vogel, D. R. (2010). A model of customer relationship management and business intelligence systems for catalogue and online retailers. Information & Management, 47 (2), 69-77. Poloian, L. G. (2009). Multichannel retailing. New York: Fairchild Books. Waters, C. D. (2010). Global logistics new directions in supply chain management. London: Kogan Page.

Ratio Analysis Essay

The aims and objectives of this report are to compare the two companies, Kingfisher Plc. and Home Retail Group Plc., using their annual report published for the year 2011. With the help of the financial statements, it will be possible to calculate different ratios that are relevant to the comparison between the two businesses. Through this comments can then be made on the performance of both companies for the year, stating some of the possible factors that could have made affected this. Comparison will be on a year-to-year basis and then between the two companies as a whole. When comparing two companies like Kingfisher and the Home Retail Group, there are a few limitations needed to be considered before this is possible. The first would be the different accounting policies that each corporation have chosen to adapt to their financial statements; this could be in regards of the depreciation or inventory valuation method used for the preparation of relevant statements. Another important point to note is that financial statements are based on historical information and therefore this would not be as objective to when we come to use them for the comparison. Expanding on this, the closing balances on the statement may make the ratios appear misleading when comparing the two companies for the period, i.e. seasonal sale boost; Christmas and New Year promotion. The main issue that should be considered is the date that they have published their account Kingfisher being 31st January 2011 and Home Retail Group at 28th February 2011. So it would not be possible to make a more accurate comparison, as the economic conditions may have changed for that one month Kingfisher did not trade. Although it would suggest comparing the two businesses is not ideal, the two companies are somewhat similar. Therefore this should make the approximation more accurate and thus the comparison more meaningful. Kingfisher PLC Kingfisher is a company that focuses on mainly offering its customers home improvements products for DIY and such likes. Its main retail brand in the UK is B&Q with a market share of 14% and they are currently top of the market. They are also making a respectable breakthrough in France with their brands, Castorama and Brico Depot taking 21% of the market share with the top place. Moreover they have expanded to Germany, Turkey, Spain, China, Poland and Russia

Interoperability Paper Essay

Health information systems having the power to work together within and across organizational boundaries in order to advance the effective delivery of health care of individuals and communities is called Interoperability. Interoperability enhances the significance for information technology to make the networks and integrations work. It also affects care delivery, continuity of care, and the ability to share information with patients for patient engagement. The term is most widely used in product enhancement and marketing. In human services different providers employ interoperability to communicate with other systems and services for better results. (Margaret Rouse, 2006) ACF Interoperability Initiative The Administration for Children & Families or the ACF is known as an important Department of Health & Human Services America. ACF supports the economic and social well-being of children, families, communities, and individuals through offering many state of the art programs. ACF’s human services provide a vast range of groups consisting of individuals and families earning low income, Native Americans, refugees, and many others. (ACF, 2013) ACF has a mission to fulfill, and is also struggling to do so. They want to be able to provide grants to non-profit groups, state and local governments, faith and community-based organizations, Native American communities, and American Indian tribes. ACF also provides technical assistance, supervision, and administration to fund beneficiaries that, in turn, are responsible for direct delivery of services. (ACF, 2013) There are many barriers and issues in providing the grants to the end recipients for which the initiative is taken to implement the interoperability. â€Å"Interoperability† is acknowledged as a national effort of technological and programmatic coordination to mitigate and even diminish those barriers. Today, the emergence of â€Å"interoperable technology† provides the opportunity  to unite systems cross wide traditional boundaries in exciting and rewarding ways. This integration through interoperability corresponds to the need for expansion of new service models and techniques to make best use of constructive outcomes for children, families and communities (ACF, 2013). Models of Interoperability There are different ways and methods to implement interoperability. Almost every organization creates its own interoperability models and methods. The three models of interoperability are information interoperability, business interoperability, and technical interoperability. Information interoperability allows the separate systems to understand the format, meaning and also the quality of the information being exchange, and it includes knowledge management, business intelligence, information management, and trusted identity. Business interoperability is an interface that enables business interoperability between organizational systems. It includes delivery network, e-Democracy, e-Business, enterprise resource management, and relationship and case management. Lastly technical interoperability means the ability of two or more information and communication technology applications, to accept data from each other and perform a given task in an appropriate and satisfactory manner without the need for extra operator intervention and this includes IT infrastructure ( Togaf, 2013) Advantages and Disadvantages There are many benefits of interoperability. Interoperability is significant in linking health and human services. It improves the client’s experience by caring for the whole person with enhanced and advanced care coordination, enhanced timely contact to getting critical information for decision making, prevent illness, reduce exacerbating conditions, decrease hospital reentries and help build individuals self-sufficiency. Interoperability helps in providing the ACF timely and accurate information to provide a more compatible enrollment process. The system will also enhance the access of information. The system helps access a wide range of data from every human service organization to link the clients to. The transparency through interoperability across programs will also enhance the ability of systems to reduce fraud, waste and abuse. I don’t think there are any disadvantages. Back-up It is very important for you to protect the data because it is the heart of the organization. And to protect your organization’s data, you need to implement a data backup and recovery plan. Backing up files can protect against accidental loss of user data, database corruption, hardware failures, and even natural disasters (Microsoft, 2013).The way the files are backed up vary according to the data that is required to be back up and also the convenience regarding the recovery process. Normal/full backups: In this method every file that is selected is backed up, apart from the setting of the attributes of archive. If there is modification required in a file, this attribute is set, which shows the requirement for file back up. Listed below is the backup plan concerning the interoperability. * Copy backups: Every file selected for back up is backed up fully, without the consideration of the setting of the archive attribute. Contrasting a normal backup, the modification does not occur to the archive attribute on files. It gives rise to opportunity to create other backups in future. * Differential backups: Invented in order save the changes to files since the last backup of the system. Only files with the archive attribute are backed up. The files with the archive attribute aren’t modified. This lets you perform other kinds of backups on the files at a later date. * Incremental backups: This is designed to generate backups of files that have changed since the most recent normal or incremental backup. The existence of the archive attribute indicates that the file has been modified. Only files with this attribute are backed up. The archive attribute is cleared when a file is backed up. If the file is modified later this attribute is set. When the attribute is set it indicates that the file needs to be backed up. * Daily backups: Designed to create backup files on the date the file was created. The file will also be backed up if the file has been changed on the same day as the backup. Daily backups do not change the archive attributes of files (Microsoft, 2013). The ACF is hoping to accomplish full backups on a weekly basis and complement this with daily, differential, or incremental backups. The organization also wants to generate an extended backup set for quarterly and monthly backups. This can include files that aren’t being backed up on a regular basis. References ACF, (2013), â€Å"ACF Interoperability Initiative†. Retrieved from: http://www.acf.hhs.gov/initiatives-priorities/interoperability Margaret Rouse, (2006), â€Å"Interoperability†. Retrieved from: http://searchsoa.techtarget.com/definition/interoperability Microsoft, (2013), â€Å"Data Back Up and Recovery†. Retrieved from: http://technet.microsoft.com/en-us/library/bb727010.aspx Togaf, (2013), â€Å"Interoperability Requirements†. Retrieved from: http://pubs.opengroup.org/architecture/togaf9-doc/arch/chap29.html

Mcd’s Current Strategy Essay

Do we have a contradiction here? †¢ Can we develop many successful segments, as many as McDonald’s would like, create a new image and having their main business continue to be burgers and fries? †¢ Is the CFO correct in assessing that the main business of the company is to compete with other burger companies? †¢ What do you think of the current suggested strategy that McDonald’s develop a healthy line because this will continue to attract people whose main demand is burgers and fries? †¢ Do you think that the current socio—economic demographics will continue to positively react to the McCafe’s? What would you suggests as strategies or main strategy for Mc? I dont think there is a contradiction in this case. In my opinion, we say it is a contradiction because McD company uses different strategy to different segments in the market. The company has been trying to build a new image of â€Å"healthy food† to go along the need of modern adults. On the other hand, however, the burgers and fries still take large pile of market. McD is well-known by there traditional products– burgers and fries and there is one thing that we have to admit is that many people order burgers and fries in McD because customers eating habit has been changed by McD. As far as I know, I think McD can sell their original products as well as doing more advertisements of those new and healthier food to appeal new customers. Since McD has been playing a very important role of domain people’s eating habit, I suppose that McD should develop more, or I say different, concept of healthy food. With specific stores selling different stuff then analyze which chain is better to suit modern people. So I agree with the CFO’s opinion. McD wants to be the NO.1 then it has to win in the market with other fast food companies. And to attract more customers is the point to gain more profit. To develop more healthy food, will definitely get more people to buy its stuff. As for the McCafe, lower price and better quality will be the motivation that people want to buy a cup of espresso in McC. But since there are more and more coffee companies already existed in the market, I suppose it might not be that positive to McC. Except for the price and quality, the service and the diversity of products are important too.

Critically review literature relating to leadership styles for your Essay

Critically review literature relating to leadership styles for your own nation and two other nations of your choice, considering - Essay Example This is due to the fact that such differences influence how employees view their leaders, the kind of attitude they have towards work, their expectations, as well as other significant issues. Leadership across cultures therefore calls for cultural adaptability on the part of managers, since managerial work gets more complex across cultures. According to Deal and Prince, â€Å"cultural adaptability is the willingness and ability to recognise, understand, and work effectively across cultures† (2011, n.p.). Cultural adaptability therefore supports that despite the fact that management across cultures is a complex task, success can be attained through satisfaction of the diverse employees, achievement of goals, and completion of tasks. Managers who want to be successful in a global environment are therefore called to embrace cultural adaptability as a value. This paper reviews leadership across Thailand, the United Kingdom (UK), and Germany focussing on how managers from Thailand may need to change their leadership style, when working in subsidiaries in the United Kingdom and Germany. ... rs, Nardon, and Sanchez-Runde point out that the challenges faced by managers leading in a multicultural environment include lack of clarity on which culture to follow and maintain, the challenge of coming across many cultures within a short time making it difficult to learn about them due to time constraints, and the event of multicultural encounters taking place virtually through video conferencing and computers rather than through physical interactions (2013). Lack of clarity on which culture to embrace mostly takes place if an international project team, comprises of individuals from different cultures. Melkman and Trotman also support that â€Å"in large multi-national companies, young managers will often find themselves working in virtual teams with colleagues from all over the world, sometimes without ever meeting face to face† (2005, p. 4). This makes it difficult for these managers to discuss what each one of them believes are the roles of a leader and come to an agre eable conclusion, as well as how to measure success and a range of other essential factors. In addition, Melkman and Trotman point out communication is also a challenge (2005). According to Biech, â€Å"communication in a multicultural setting is much more complex and can result in inefficiencies† (2011, n.p.). Complexity in communication increases greatly when a team and customers are dispersed within different geographical regions. Deal and Prince assert that despite the fact that it is impossible for managers to exactly know how different people in different places behave, they should possess cultural adaptability skills (2011). Bhattacharyya supports this point when he asserts that at any time that managers of a certain company are need to travel and work in a culturally different country â€Å"it

Challenges And Benefits Of Mammalian Cloning Essay

Challenges And Benefits Of Mammalian Cloning - Essay Example This is indeed, far from reality! Daily life experiences we go through and the environment we are brought up in play a decisive role in making us what we are irrespective of our genetic similarity with a parent or a sibling. Another big challenge in the way of mammalian cloning is the widespread conception among people that cloned mammals are perfect and that all weaknesses have been weeded out from them. This, again is nothing more than another theory about mammalian cloning that is frequently referred to by the opponents of cloning. Last, but not the least, mammalian cloning is threatened by people’s religious beliefs and practices. Practicing people from many religions are simply against the idea of mammalian cloning because they consider it to be fundamentally the expertise of God, and believe that no human can or should make an attempt to cross the limits. Although many of the generally believed theories about mammalian cloning are far from reality, yet they have posed ma ny hurdles in the way of research and development in the field of mammalian cloning and implementation of the techniques thus found. Benefits: According to Dr. Richard Seed who is a leading proponent of the technology of mammalian cloning, knowledge about cloning has been developed to such an extent that methods may soon be developed that would not only retard the process of aging in mammals, but also reverse it (â€Å"Benefits Of Human†).

Summary Essay Example | Topics and Well Written Essays - 250 words - 77

Summary - Essay Example The Gallop Poll of 2011 shows just 26% for handgun ban. The issue with the thinkers is whether gun control can stop tendencies for violence. Whereas the arguments and counterarguments continue amongst various bodies concerned with controlling gun and violence, the measure does not get the legal support. â€Å"With a 5-4 decision in the District of Columbia v. Heller case heard by the Supreme Court in 2008, the court’s new reading of the Second Amendment indicates that handguns cannot be banned even at the local level because there is an individual right to handguns in the home for self-defense.†(Ryan, n. p.) This seals the issue in favor of keeping the handguns. The other method suggested is health screening of the people and the background check from the â€Å"federally licensed dealers.†(Ryan, n.p.) This suggestion is good in theory but its implementation is not practicable. One can easily buy the â€Å"gun from a private seller.†(Ryan, n. p.) But the suggestion to ban AR-15 type assault rifles merits consideration, as these types of weapons have role for civilian purposes. Congress did ban 9 types of semi-automatic weapons in 1994 and the â€Å"ban expired in 2004 and was not renewed.†(Ryan, n.p.) Going by the General Survey there is a marked reduction in gun related crimes all over the country in the last 40 years. But the Church is deeply concerned about gun trafficking and suggests that the members of the community should exercise moral authority to educate the people about the gun culture and finally guns should have no place in a society governed on moral principles. The faith community has the responsible and c onstructive role to play in this